Survive financially this January
JOBURG – Some people tend to overspend over Christmas time and panic in January when it comes to low finances. These tips can help you out this month.
With Christmas and holiday time over, many people will struggle to financially survive January.
According to FNB, the current exchange rate is R16.78 (at time of writing) to the USSD. The high exchange rate will cause a fluctuation in food prices and other necessities. Marietjie Esterhuizen, president of Rocci Roodepoort Chamber of Commerce and Industry has compiled a list of useful tips for readers to manage their finances this month.
N Compile a shopping list
Make a shopping list before going shopping and stick to it. According to Esterhuizen, it has been proven that people tend to over-spend when shopping on an empty stomach, so eat something, before shopping.
- Draw up a budget
And stick to it. “Get into the habit of saving a small monthly amount,” said Esterhuizen.
- If you cannot pay your debts talk to your creditors
- Do not buy brand names, if you cannot afford it
- Compare prices
Look for specials and shop around. According to Esterhuizen, it’s easy to look up advertisements on the internet.
- Clear your clutter
“If it’s not used in months, sell it. You will be surprised about the value of these items,” said Esterhuizen.
- Pay cash if you can
Stay away from credit cards. “Credit is expensive.”
- Use loyalty points to pay for your purchase
- Plan ahead
“Start planning for next month and even for next Christmas. Put a fix percentage or amount in a separate account. This will help you get into the habit of saving and will prevent overspending next Christmas.”
- Pack homemade lunchboxes for school or work
By doing this you can save money. It is also a much healthier option.
- Plan lift clubs
Start a lift club and save money on petrol by travelling together to school, work and the gym.
- Use electricity and water wisely
“You will not only save money, but will also assist with the country’s shortage.”
By making small, but much-needed changes it will be easy to not only save money this January, but can also take on habits that will last a lifetime.
Details: Roodepoort Chamber of Commerce and Industry, 010 595 9644.
