Have you thought about how the impending implementation of the goods and services tax (GST) will affect your shopping or spending habits? Suddenly the price of things will be increased by 4% of tax, and that is assuming the price of the item itself does not increase in price. I shudder to think how much more we will spend on our overall basic needs, not even including shopping for leisure!
Will you be cutting back on your shopping? I suspect I will in the early months. But I also believe as time goes by and we have accepted that the tax is a fact of life and things are just going to cost more, we will settle back into our habits like before. Do you think so?
Oh well, I may just stock up on necessities like my skin care products before the GST is implemented. Skin care can cost quite a bit so it may be a smart thing for me to buy them before the tax system starts, of course provided that I watch the expiry date of the products too.
What are some of your tips to help with savings when the GST is in place? Although the government is going back and forth about its implementation date, I’m quite sure it will come along somehow. It’s just a matter of time. I just don’t like to be caught by surprise with a sudden short notice of implementation. So I like to set myself up to be ready for it.
Just when we thought things are getting better, suddenly we have increase interest rates and now the additional tax to pay. I guess if this comes with a pay rise it shouldn’t be too difficult to cope. But I do wonder if people will get increments at all as a lot of companies are still not quite out of the economic downturn. A friend in the US was telling me there still aren’t that many available jobs in Philadelphia so she’s very glad to be holding on to one even without any raise in the last 2 years.
So for those shopaholic friends out there, do be careful with your spending in the near future…I know I will be, at least until I’ve grown used to the idea of the GST.
