Cut costs for the holiday and still have a great time
Christmas might be a time for sharing, but what about the stretch until the end of January?
The smart thing to do this festive season is to watch your spending so that you’re not left worrying or doing last-minute budgeting come the end of January.
“With the festive and holiday season here, people might think that it’s too late to start cutting costs or budgeting,” said Budget Insurance’s spokesperson, Susan Steward.
“Not everyone wants to crunch numbers at the end of the holidays, but there are some clever ways to save costs without marring the fun – or having to resort to leaving the coins out of the Christmas pudding.”
Susan suggested that one starts shopping intelligently from now and find ways to spend smarter, especially if there are new school books, uniforms and stationery that need to be bought.
She also cautioned not to depend solely on Christmas bonuses as a way to pay for a holiday, Christmas presents or January necessities. “Unless you know for certain you’re getting a bonus and what it is, don’t rely on one and its amount. Many companies are cutting back, and many people don’t get the bonuses they expect. While it might be tempting to spend it all on impressive gifts and good times, we advise you to put aside as much as 50 per cent of whatever your bonus is, which you can either save, invest or use for anything unforeseen,” she added.
Here are some budget-saving tips that Budget Insurance recommends:
• If you haven’t planned a holiday yet and are looking for something affordable at the last minute, investigate places off the beaten track, or away from the coast. There are some great towns and even camping spots that make for wonderful destinations.
• If you’re staying at home for the holidays, why not make it an affordable and fun “staycation”? You can have pool parties, movie nights, games evenings, braais and lots of series and reading catch-ups that don’t have to break the bank.
• Does everyone in your whole family need a present? Why not do a “Secret Santa” gift exchange so that you’re giving one gift, and receiving one.
• It’s a small yet significant thing, but the cost of gift bags adds up. Rather buy brown paper, and decorate your gifts with ribbons.
• Track your spending from now, and use a spreadsheet or app. Knowledge is power – you could save money now on lattés and convenience foods, just by being aware of how much you’re spending on them.
• Get an early start for 2017 – January is a good time to evaluate how you spent, and make realistic plans for the new year.
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