How to save on fuel in January

But December’s indulgences and the start of the New Year heralds one of the trickier months to navigate financially, the dreaded “Jan-u-worry.”

Here’s a quick list of things to keep in mind during December as January, what some consider the longest month of the year, rolls in:
* It is important to understand and differentiate between how much “festive” money you have to spend during the holiday season and how much you’ll need to see you through January. Once money for the latter is set aside, draw up a budget to determine an amount you can spend on things like entertainment, presents and other items…and stick to it!
* Do not rely on a 13th cheque or annual bonus to get through January. If you are lucky enough to get a bonus, it is just that. Use it to boost your savings, as an emergency fund, or to settle or reduce any debt you have.You may be tempted to hit the January sales and you can definitely pick up items at reduced prices. BUT, you also may need that money to cover the month’s expenses such as groceries and electricity.

Also read: powered by Custom Search Financial tips for surviving holiday season
* Avoid falling into sale spending traps and prioritise a few items you want or need and then shop around for the best price before buying.Remember all those discount or loyalty points you’ve probably been saving up on your loyalty cards all year? Cash them in on January essentials rather than December luxuries.It is the time of year you’ll need to pay up for school fees and related expenses like stationery and uniforms.
* The more you have prepared in advance for these expenses, the less stressful January will be for you.Use your talents to explore opportunities to make some extra money for or during January. The “Slashers” phenomenon has steadily gathered momentum in South Africa over the past few years and the term refers to people who are employed but who also have a side-line job/business not at all similar to their primary job. For example: can you make jams or bake cakes that people always compliment you on?

Also read:How to survive the Christmas spending fever
* Sell to friends and family or at a food market to earn extra money.
PLANNING IS KEY – How many times have you heard or said “January is next year’s problem” Now, do you really believe it? Make an effort to increase your savings during the year so that you have extra money to see you through the following January and all the costs you will need to cover.

Learn to think of January as part of your festive season budget and try to put some money away each month to build your January cash reserves up in case you need the extra money.