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.

These tips can stretch your money a little bit further. Photo CC search.

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.”