If our offices were twitter, the most trending topic at this stage would be #LetsNotEvenTalkAboutIt.
I’m sure most of you would agree that whenever you mention the words “money” and “holiday” in the same sentence at this time of year, you probably will get the above hashtag from a depressed colleague. My budget was slightly in the danger zone by mid-December already, but this didn’t mean I had nothing left. …
I’m sure most of you would agree that whenever you mention the words “money” and “holiday” in the same sentence at this time of year, you probably will get the above hashtag from a depressed colleague.
My budget was slightly in the danger zone by mid-December already, but this didn’t mean I had nothing left.
Most people get their December salary earlier than usual. This money fuses with the remaining funds in their accounts and automatically becomes part of the December cash flow. Another critical aspect that also is forgotten frequently is that debit orders go off later than usual. Yup, everything still needs to be paid.
Although we cannot change these facts, we can take a few precautions to ensure that next year our plans work out better.
Take your salary, divide it by 12. Try to save that amount every month until the end of the year. You will then be left with your entire salary above your December income. That’s a debit-order, guilt-free lump sum salary that you can abuse as you wish. I know you might think that you cannot afford that amount every month, but I assure you that if you work wiser, you will be able to do it.
Another option to consider is to pay your second salary in December together with your bonus (if applicable) into a savings account. Only use your end-of-November salary for the luxuries you desire during December. When you have completed the countdown to welcoming the new year with a cheer, transfer those funds from your savings account to your current or active account. Wait for all debit orders to go off successfully and enjoy a stress-free January.
Whether you will use any of my advice or not, is up to you. Either way, I urge you all to compile and adhere to a monthly budget. Keep the slips and make sure every cent is taken into consideration. Don’t whine about your financial status if you don’t manage it wisely.
That is my R200-worth.
Happy new year to all and may 2014 be your year.
Until next week
