Cheap­est isn’t alw ays a s aving

Weekend Witness - - Medical File -

SOME­TIMES buy­ing the cheap­est ser­vices and it ems can c ost you more in the long t erm.

“There is a big dife­frence be­tween be­ing pru­dent, and try­ing to save money by t aking short cut s and pick­ing the cheap­est prod­uct or ser­vic e,” said Eu­nice Sibi ya, head of c on­sumer ed­u­ca­tion at FNB . • BUY­ING IN BULK Goods are usu­ally cheaper in bulk, but this doesn’t mean thatit will nec­es­sar­ily save y ou mone y o ver the long t erm.

Do you have stor­age space for them? What is the e xpiry dat e?

Will you end up con­sum­ing more just be­cause you have a prod­uct that is easy to a ccess?

Buy prod­ucts in bulk that you use on a reg­u­lar ba­sis but al­ways check the ex­piry dat e. • IN­SUR ANCE Cut­ting out vi­tal in­surance such as car, house­hold or life poli­cies to try to save a r and or t wo is risk y.

If you are young and sin­gle with­out a car or home, y ou may be able t o get away with no in­sur ance.

If y ou ha ve r espon­si­bil­i­ties such as a f am­ily, car and home or house­hold goods, it is never worth the risk to skip or skimp on in­sur ance.

“In­surance is fi­nan­cial pr otec­tion against the pos­si­bil­ity that an event or sit­u­a­tion will lea ve you or y our fam­ily fi­nan­cially worse off ,” said Sibi ya.

“You are in­sur­ing against some­thing that may not hap­pen, but if it does, you could stand to lose some­thing you have worked t owards f or a long time, such as your home, car or even a hol­i­day that you have spent months sav­ing for if you haven’t taken out travel in­surance,” said Sibiya. • US­ING CHEAP SER VICES Tak­ing the cheap­est op­tion for any ser­vices, from re­do­ing your bath­room to ser­vic­ing you car, is not al ways a good idea. Rather see the ser­vice as an in­vest­ment.

“If you want your geyser to be run­ning smoothl y in a f ew y ears or y our car to get you safely from work to home, it is bet­ter to use a rep­utable ser­vice provider that may be a bit more pricey but the work is guar an­teed,” said Sibi ya.

— B.E.

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