In two weeks we will be in December and that means the festive season is drawing close.
The festive season is a time to look forward to, but it's also a time of year you may dread as the costs mount up from overspending.
So how can you save money over the festive season?
Read on to find out…
Festive money saving tip #1: Work out how much you’ve got to spend
Before you start making lists of what you need to buy for gifts and groceries over the festive period, you need to draw up a budget first. This is a vital money
You need to work out how much you can afford over the festive season and then work your shopping lists from there.
You should only spend what you can afford. Racking up loads on your credit card isn’t a wise choice, neither is your January credit card bill.
Festive money saving tip #2: Cut down your gift list
Buying gifts for all your nearest and dearest is a costly exercise. It’s a good idea to start discussing cutting the number of gifts by chatting to family and friends now.
You could opt to only buy for the children or do a ‘Secret Santa’ amongst your friends to reduce the number of gifts you need to buy and the amount you spend.
Festive money saving tip #3: Start preparing for next year
This year, keep a record of everything you spend over the festive season. Using this as a guide, start putting away a monthly amount once the New Year begins to start preparing for next year.
For example, if your festive season spend costs you R8,000 this year, to save up enough for next year and to take the pressure off, you need to put away R667 a month from January.
So there you have it. Three top ways to save money over the festive season.
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