We've all been there: festive season is over with little money left in January. It's kind of hard to resist letting our hair down (and our wallets open) in December though. Here's a little reminder if you do want to play Scrooge this holiday.
Draw up a budget well in advance. Put aside money for all your festive needs and January expenses. Note everything you have to cover at the beginning of the year and put aside enough funds for that. For those lucky enough to receive a 13th cheque, consider using it to pay off small dept, that way you have less to pay for in January.
Purchase stationery and school uniform before the end of term and also groceries enough to last until the end of January. Apart from knowing how much you will be left with for pleasure, you will avoid the rush and unpleasant January surprises. Planning in advance will also give you the opportunity to look for bargains and compare prices.
Don’t get trapped into buying sale items you don’t really need. Rather use the opportunity to purchase items you need on discount. If it’s not on your list, it shouldn’t be in your basket!
BUY GIFTS WISELY
Opt for cheaper alternatives when purchasing gifts. Consider social buying sites like Groupon and Wicount or better yet, go for homemade gift for a personal touch.
Being a social butterfly can be costly. Be selective about parties and lunch dates you attend. Spending on petrol, refreshments and restaurants can add up, so be mindful of your social activities.
PAY CASH AND RESIST CREDIT
Paying cash and constantly checking your balance will keep an eye on your finances thus helping with avoiding impulsive spending. As for the plastic, rather keep it for emergencies.
- Koketso Mashika @koketsoMashika