Effects of the global economic crisis have already started showing a negative impact on growing economies, such as Zambia, with only a few people managing to spend for Christmas.
According to a survey carried out this morning by ZANIS, people said it is hard to do shopping because there are no funds to meet the needs of many families.
Most people expressed concern about lack of funds to do shopping because prices have been hiked so much, making it difficult for many people to buy gifts for their beloved ones.
Alfonsaias Haamanjanti said people should not over-spend unnecessarily but consider critical things such as school fees and uniforms for children when schools reopen.
Mr Haamanjati said it is important to budget for the things that one needs by writing a list and follow it.
He pointed out that the global financial crisis may not be felt now, saying there is need to save money and shop only when it is necessary.
He said the global financial crisis may be felt so much next year, adding that most Zambians should consider saving their money and use it when there is real need.
Mr. Haamanjanti advised most Zambians to avoid unnecessary sales and advertisements which show that commodities are cheap yet they are spending more money on these commodities.
He said countries like America and most European countries have cut down their demand, adding that the government of Zambia does not have much income.
And a business lady, Mwape Mulundika, pointed out that it is important to keep a budget and avoid luxuries while Mrs. Genala Kamalata has called on government to consider reducing the price of staple foods and other essential foods.
Mrs. Kamalata said Christmas will soon be over, hence the need to avoid spending and to focus on more things of benefit.
Mrs. Roister Kafunda, however said the global financial crisis has led to high prices, adding that mealie meal is now costing so much, making it very difficult for huge families to survive because they use more than one bag of mealie meal per month.
She said long ago people would survive on their salaries, but now a lot of people have become sophisticated in order to make ends meet under these difficult circumstances, adding that more people have compromised their jobs because they want to survive, resulting in corruption and crookedness which have eroded the system.