The Egyptian family faces a difficult challenge to control the Ramadan budget and meet the requirements of the holy month of food and sweets for invitations and the usual feasts among families on such days.
Dr. Manal Khairy, Professor of Economics at Helwan University, revealed a group of the most common mistakes in managing Ramadan expenses due to the tendency toward extravagance.
She added that extravagance in Ramadan arises due to viewing the month as a season of invitations and a variety of dishes on the table, which is usually linked to the concept of generosity, but ultimately leads to irrational consumption.
Controlling the Ramadan budget… consumer habits
She explained, during her interview with the Noon Al Qimma program broadcast on Extra News Channel, that wrong consumption habits lead many families to prepare items that exceed their actual needs, stressing that being satisfied with two or three items on the table is sufficient to meet needs without waste.
Merchants take advantage of the Ramadan season
She added that merchants take advantage of the holiday seasons and the month of Ramadan through promotions that may be deceptive, and some even raise prices, stressing the importance of the consumer going to stores with a specific list of what he actually needs, to avoid falling into the trap of buying unnecessary goods.
Dr. Manal Khairy stressed that the budget for the month of Ramadan must be treated as a budget for a normal month, through rational thinking that balances income and needs, while choosing products that are appropriate to the financial capacity of the family, to avoid economic pressures resulting from extravagance.
Commodity prices in Ramadan
The prices of food commodities, poultry and meat are rising as the holy month of Ramadan approaches at the end of this week, due to the demand for purchases by citizens.
The increase in consumption of food commodities during the month of Ramadan is estimated at about 20% compared to other months of the year.
