Most people are just grateful to have made it to the end of the year.
For those who’ve had a horrible twelve months, they may be glad it’s finally coming to an end while others look forward to new beginnings.
There are also those who are looking forward to shutting down at work, relaxing and going on holiday among other things.
Though excitement and having a good time is a good thing, the one common mistake most of us make over the December holidays, is overspending.
We use most of the money we do have or live on credit, forgetting the dreaded truth.
In December, most of us get paid way before our normal pay day.
However, as soon as the money reflects in our bank account, we set out to buy the holiday groceries and clothing, then party and put aside traveling money.
The problems arise soon after December 31’s fireworks and January 1’s braais and picnics, however.
We realise that we haven’t put away enough money and that the next time we’ll be paid, is only at the end of January.
You then begin to panic, because you need January groceries.
Depending on the crèche or school your child goes to, there may also be a registration fee which is required at the start of the New Year.
And your children will need school uniforms, plus stationery to kick off their new academic year.
So before finding yourself in such a situation – before the December holidays even begin – ensure that you create a plan for what you want to spend your money on.
Make a budget so that you know what amount you’ll spend and where.
Cut down on all the unnecessary spending, trips or outings.
Instead, try and find cheaper places or ways of traveling, or entertaining your family over the ‘festive season’ period.
Make sure that you buy all your children’s school essentials at the end of this month, or before buying any thing else in December.
Try to get gifts that are a bit cheaper, instead of splurging your last cents on that ideal or perfect gift.
If you’ll be having gatherings or entertaining family and friends, rather make the affairs a bring and share – instead of having to fit the entire bill alone.
It’s also imperative to make sure you don’t just leave your debts unpaid during the holidays – just so you can have more spending money.
If you do, that will result in you having to pay double on debts in January.
