Think twice before you spend

PUBLISHED : Thursday, 02 April, 2009, 12:00am
UPDATED : Thursday, 02 April, 2009, 12:00am

There are a lot of shopaholics in Hong Kong. They can never resist bargains.

Whenever they see a 'sale' sign, they rush into the shop and snap up items they think are very cheap. But they seldom consider whether they really need them.

A lot of the items end up being thrown away. This is a waste of money and valuable resources.

The world is experiencing a recession. People are having a difficult time and nobody can tell how long the economic slowdown will last.

The city's shopaholics should grab this opportunity to kick their bad habit.

We need to be smarter with our money these days.

Kiko Chow, Tsuen Wan Public Ho Chuen Yiu Memorial College

From the Editor

Thanks for your letter, Kiko. There are two ways of looking at a recession. The first is that people need to save money because they never know when they might be out of work and will need whatever savings they have to live off. The second is that if people do not spend their money, the people making those items normally bought by shoppers will lose their jobs and the economy will worsen.

One could also argue that in the bad economy one could find many bargains. But it is best to only spend on things that were planned for. For instance, if you have been planning to buy a new television set, you might find it best to do so now, while prices are low. If you are going to invest in property, now is the time.

But in the long run, it's never a good idea to buy things we don't need. It does lead to a lot of wastage, and that is something everyone can do without.

Susan, Editor