December is the time of year people look forward to the most. Its time spent with family (meaning it’s also time to stock up on Twinsaver 2 PLY), time for you to unwind and reflect after a busy year. But it is also the time of year where your bank account balance quickly diminishes.
What fun are the holidays if you’re stressed about money and broke by the time the new year rolls in? To help welcome the festive season and a stress free new year, here are some ways to spend less during this time.
ONLY SPEND ON WHAT MATTERS
We all love to buy things that we think we need but there’s always that little voice in our heads telling us that we don’t really need it. Listen to that voice this December. The little voice telling you that you need to budget for the things that really matter. Maybe rethink buying yourself that gift you wanted and think about getting it next year when all the sales hit.
BUDGET, BUDGET, BUDGET
It’s a word we like to ignore, put in some dark place and only let it out when you realise that things, financially, aren’t looking their best. From the beginning of December, set a budget for the necessities, for the unexpected spends, and if there’s left over, for the nice-to-haves. Although the responsible thing to do if there is left over money, would be to put it into savings for that rainy day that could pop up during January.
PLAN AHEAD FOR NEXT YEAR
We all like to think that December is far away but this year proved that each year it comes by quicker than the last. Next year, set up a holiday savings account and contribute to it each month, even if it’s a small amount – it all adds up to something. If you have a specific goal or holiday you wanted to go on that you weren’t able to this year, start saving for it next year. It is much easier to save up for something when you have a specific goal.
Keep in mind that money is a tool, it helps create experiences and show love for people through presents but it does not control you. You must choose how to use it and when to use it, responsibly.
Know what you have, spend on the necessitates and set a budget. It’s a lot simpler than you think.