SPEND WISELY THIS FESTIVE

As we enter into December we dive straight into the festive season. This is a season to be with friends, family, loved ones, just to be chilled and enjoy life when the hustle and bustle of work pressures and school-related work dies down. This is also the time that most of us will be sharing stockvel monies and getting dividends, most will be getting their bonuses and this season is also rife with consumeristic tendencies, this is a peak time for the retailers and commerce. Today I am going to invest my thought into how we can navigate the festive in a responsible manner, since the December income is to sustain you until the next pay date in January 2023, I put the 2023 deliberately because with wasteful expenditures, the first 15-20 days of January to the next pay date will feel like a whole year.

Set holiday spending limits

I know this will be difficult for most to do once the festive frenzy sets in, yet it is the most imperative of the festive spending tips. Impromptu trips, and random hand-outs become a thing during the festive season. It is important though to enjoy that within the feasible limits. Setting limits will make your money go further. One way we can ensure that we spend within the limits is to separate your money, move your money from your transacting account, leaving only that which you are prepared to spend. Make sure that the account that holds the extra money is not linked to your debit card, you do not want to overspend unintentionally. The safe account should not have cellphone banking, internet banking and a debit card since all these modalities are highly liquid (the money can be easily accessed when needed). Also, plan for the bonus and that stockvel money before it hits your account, make a list of the things you will do and a budget of how much they will cost.

Do not go on holiday

If you have not yet booked your holiday, then it is too late to go now. Hotel destinations are at peak this time of the year and because the demand is high, the price also goes up. Hence if you have not yet paid for your holiday do not go anymore. If you want to go on holiday book as early as May to ensure that you get the best deals. If you have friends and family by the coast, pay them a visit instead of going to a holiday destination, such last minute destinations will cripple your budget and you might recover by the end of the first quarter of 2023.

Enjoy the outdoors

Spend most of your time out in the sun with friends, this will be more cost effective instead of spending most of the time inside entertainment establishments. The beauty of the festive is that it happens right at the thrust of summer where the grass is green and the rivers are flowing. Let’s normalise having those outdoor picnics, in our back yards even, that barbeque in the sun with friends with supplies bought straight from the retailers. The costs of such events are way cheaper and cost effective, it will save you a lot. Also, do not be the Great Gatsby, every attendee of the parties we host the must contribute something, this way we all pool our resources and we all enjoy within reasonable limits.

Be a good guest

A good guest knows when to leave, the more you stay at a person’s place, the more additional resources they have to spend on you which likely puts them out of budget. Also, a good visitor brings their own provisions. If you want to drink tea, bring your own bread at least, that is common courtesy. A good guest should also contribute to the expenses of the household while they are around, none contribution is actually a transfer of the visitor’s costs of sustenance to the host, so do not be that person. Whenever the host plans activities, make your own contribution towards those activities, do not expect the host to subsidise your festive expenditures.

Plan for fun

It is advisable that we all plan for our fun expenditures and those activities to avoid blowing the budget. December is a month with 31 Saturdays, if you do not plan how you are going to pass the time you might find yourself overspending. Have a realistic fun budget that is within your means that way we will all sail into the New Year with financial ease.

Give within reasonable limits

Christmas is synonymous with giving, ensure that you give within limits, avoid very expensive gifts, remember the best gift you can give is the gift of your time. It is also wise to ask people for a gift register so you buy gifts that people will use and that way the utility received from the gifts will be commensurate to the value. Otherwise we risk buying gifts that are not useful. Spend wisely, the festive is only a few days and there is the whole of 2023 to get through.

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