So many South Africans will spend way too much money they don’t really have this festive season.
Ingram spoke about some ways to avoid overspending this festive season.
The first, and most important step – draw up a budget.
This ensures you know straight away what you are able to spend.
Bear in mind that your general expenses over the holiday season are likely to increase.
Times are tough and maybe you didn’t get the bonus you expected - be realistic.
Also ensure your spouse is on the same page.
Don’t buy on credit
If it busts your budget; don’t be put it on your credit card and make it next year’s problem.
Holidays with family and friends
Some people, unfortunately, tend to take advantage and often don’t contribute towards grocery bills and other joint expenses.
Don’t be afraid to speak up about sharing food and other costs.
Prices tend to skyrocket over the holidays.
If you find things you like; buy them earlier.
You could even take advantage of Black Friday and Cyber Monday deals.
However, be careful with specials, as some shops don’t give true discounts, but merely inflate their “normal” prices.
Keep track of your spending
A good way to keep track of what you spend – instead of just mindlessly swiping your card - is to, once you have your budget, draw the cash that you can afford to spend.
Once this is finished; so is your spending.
Keep things simple
Instead of buying presents for everyone in your family, consider the “Secret Santa” method.
Names are drawn out of a hat and each person buys and receives one gift.
Also, keep in mind that there is a lot of free entertainment this time of the year such as night markets, carols by candlelight, etc.
For more detail; listen to the interview in the audio below.
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