We are officially in the festive season. Despite the pandemic, the festive cheer somewhat provides that much needed brightness after a very dark and grim 2020.
Part of the many traditions and norms that come with the festive season are our spending patterns.
From the usual Christmas shopping, vacations, and entertainment festivities, we often find ourselves overspending during this time of the year.
So, how can we avoid festive overspending by being more financially savvy with our money?
Economists recommend the following tips:
1. Decide on your budget
Setting a holiday budget before you begin your festive shopping is always a smart move. Allocating a budget for the holidays will enable you to minimize overspending and avoid unnecessary purchases.
2. Spend your Christmas bonus wisely
If you’re lucky enough get a year-end bonus or a 13th cheque, you might elect to put that money towards your home loan or add it to your retirement fund.
3. Avoid using credit to get through the season
The biggest financial killer for many people during the holidays is the reliance on credit cards to get through the festive season, especially when it comes to buying gifts. Avoid credit at all costs during the festive season.
-daily sun
In other news – Men are trash – Actress Letoya Makhene’s father rubbishes men, congratulates his daughter for marrying another woman
Legendary artist Blondie Makhene said he was happy and proud that her daughter is married to a woman because men are trash.
Actress Letoya Makhene has tied the knot to her sweetheart businesswoman Lebohang Pulumo on Tuesday (22 December). The traditional wedding took place right in the heart of Soweto in Moletsane Sports Complex. Learn More
