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Mum’s Spending Plan Part Of Her Financial Strategy

Mum’s Spending Plan Part Of Her Financial Strategy
Shalin Reddy (left) and daughter Tannish Singh shopping at Charan Jeath Singh (CJS) supermarket in Nabua, Suva on April 6, 2018. Story: Page 2. PHOTO: Nacanieli Tuilevuka
April 13
11:00 2018

It is two weeks away from the end of Term One holidays, Bitu Investment financial controller Shalin Reddy is making sure her pantry is stocked with healthy food items for her six-year-old daughter.

“My daughter would be home with my mother-in-law over the two weeks, I don’t want them to be without the food items they need when I am away at work,” Ms Reddy said.

“It is a hassle when you are at work and then need to rush home with the items they need for their meals,” she said.

There is always something the chatty 30-year-old of Cunningham, Suva always has at the back of her mind when shopping.

It is her family’s health that is why regardless she makes sure she buys the right food for them.

“Diets rich in foods containing fibre, such as some vegetables and fruits, reduce the risk of heart disease and obesity,” she said.

“I buy a lot of vegetables and fruits, so that my daughter (Tannish Singh) could eat healthy food during the two weeks school holiday.

“I check the expiry dates and the conditions of the foods that I buy. I incorporate this advice into my own shopping habits because I think it has merit, especially when kids tag along,” she said.

Though the family lives at Cunningham of which there are other shopping facilities close by, she prefers to shop at Charan Jeath Singh (CJS) supermarket in Nabua.

“I love shopping at Charan Jeath Singh supermarket in Nabua because it’s clean, spacious and has a wide range of products to choose from.

Ms Reddy said budget was an important component to any successful shopping activity.

“Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you,” she said.

“Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.

“Once you create your first budget, begin to use it and get a good feel for how it can keep your finances on track, you may want to map out your spending plan or budget for six months to a year down the road.

“By doing this you can easily forecast which months your finances may be tight and which ones you’ll have extra money. You can then look for ways to even out the highs and lows in your finances so that things can be more manageable and pleasant.

“Using a realistic budget to forecast your spending for the year can really help you with your long term financial planning.

“You can then make realistic assumptions about your annual income and expense and plan for long term financial goals like starting your own business, buying an investment or recreation property or retiring,” she said.

Ms Reddy shares her favourite recipe of boneless chillie chicken and rice.

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