Finally! Phew, if ever there was a long year, this was it. Whether you’re working through December or taking some well-earned time off over the festive period, be careful with your spending, otherwise, you’ll be left with a financial hangover in January, and we all know that hangovers are no fun. Use these tips to avoid overspending this festive season so that January doesn’t turn into
Janu-worry:
- Make a budget and stick to it. It’s okay to include special treats and luxuries if you want to but don’t go overboard.
- When you do your festive season shopping make a list and – you guessed it – stick to it Really think about every purchase you make.
- Get creative with entertainment. A boerie roll at the park can be just as much fun as an expensive meal and drinks at a restaurant. Think outside the box. A movie night with popcorn and ice-cream at home, a picnic in the garden, homemade burgers instead of steak and chops on the braai. You get the idea.
- As soon as you get your salary set some money aside for January. It’s an expensive month so planning ahead for it is beneficial and will stop you from splurging the money just because it’s in your bank account.
- Don’t spend money that you don’t have. Avoid buying on credit and don’t take out extra credit to get you through the month. You’ll probably regret it. And loan sharks are a big NO NO!
- Discuss your financial plan for December with your family so that everyone’s expectations are aligned. That way there won’t be disappointment when you can’t fork out money constantly.
To speak to a financial coach or for help with debt management, contact LifeAssist at 0860 111 322.