POLOKWANE – These obligations can include the purchasing of essential back-to-school supplies for their children in January.
With this in mind Review spoke to Munyaradzi Tazvarirweyi, accountant and the Founder & CEO of Brownstar Enterprise Solutions (Accounting & ICT Consultants firm) to find out how people can spend wisely so that they are not faced with a financial crisis in January.
“Immediately after the celebrations comes January with all it’s financial worries and obligations. While most school going children will be excited to go back to school and see their friends the same cannot be said for their parents who start to worry about cost of school fees, uniforms, transportation etc,” he explained.
He explained that financial planning and discipline is key during the festive season and advises everyone to draw up a budget for January before they start planning their festivities. “As a parent you have to make sure that you set aside money to cover the back-to-school essentials your child will need. Even though this sounds tough it will be possible if you decide to be being financially disciplined,” he added.
If an individual knows that they may be tempted to use the money they have saved Munyaradzi urges them to rather buy the needed back-to-school essentials as soon as they receive their salary for December. “Back-to-school essentials are often cheaper in December, moreover, when you have a limited festive budget, this forces you to look around for best deals in shops, hotels etc and avoid impulse buying and unnecessary fruitless expenditures,” he said.
“By following the above advise and tips one is likely to have good holiday and a peace of mind knowing that they have vaccinated themselves against the so called January disease. Financial planning and discipline is the best prescription for the sometimes avoidable January stresses,” he concluded.
