MyMoney Online

Only 3 pay days to go to get through the festive season

So let’s do something different this year.

Your mission is to get through to the end of January without going further into debt. A starting point is to plan for the festive season now while you have a chance.

With only three pay days to go before the end of the year time is running out to get a mini plan in place to cope with the financial demands of festive season.

Typically, many of us spend far too much over the period and then take most of the new year to repair the financial damage. Listen to Paul's chat with Sam Cowen here...

It follows that prevention is better than cure. So why not do something different this time around. Here are 3 areas which will help you through:

Create a mini budget

Calculate what you can afford to spend without going further into debt. The total of your expected income for the next three months less your normal living expenses for the period is the amount you can target for the festive season.

Set aside the savings from each pay day into your credit card or access bond so that the money is freely available when you need it.

Get creative on your spend

Spend on gifts that are meaningful rather than expensive. For example, a mall shopping voucher is very practical as you offer a wide variety of optionsfrom the various stores in the mall.

Furthermore, most stores go on sale after the 25th December, so your voucher will go a much longer way.

Keep January firmly in mind

Many of us are paid early in December which means that you will need to stretch yourself for a longer period until the January payday. You will need to make sure that you cover debit orders, and all the “must have” expenses for January.

You will be a hit if you manage to stay away from extra debt by the time you receive your January pay slip. Furthermore, you will start 2017 ahead of the curve.

Read more from Paul Roelofse at www.investforlife.co.za

Read More
2 best investments on the JSE right now (and one from the USA)

2 best investments on the JSE right now (and one from the USA)

It’s Stock Pick Monday on Bruce Whitfield’s The Money Show. He interviews I-Capital Managing Director Lance Williams.

Women are better investors than men

Women are better investors than men

Warren Ingram explains why it is that women clearly outperform men.

Hottest shares you can buy right now (by Fairtree Capital)

Hottest shares you can buy right now (by Fairtree Capital)

The Money Show’s Bruce Whitfield interviews Portfolio Manager Jean-Pierre Verster.

Unsure where to invest? These are the best shares right now (by Anchor Capital)

Unsure where to invest? These are the best shares right now (by Anchor Capital)

Sumitra Nydoo (on The Money Show) interviews Anchor Capital Analyst Henry Biddlecombe.

How accurate (or off the mark) stock pickers on The Money Show have been in 2017

How accurate (or off the mark) stock pickers on The Money Show have been in 2017

Bruce Whitfield grills three stock pickers he interviewed in January on the performance of their picks for 2017.

3 epic shares to buy right now (by Herenya Capital Advisors)

3 epic shares to buy right now (by Herenya Capital Advisors)

These are the three hottest investments you can make right now, according to Petri Redelinghuys.

Popular articles
Grace Mugabe invokes diplomatic immunity as Zim-SA relations get tense

Grace Mugabe invokes diplomatic immunity as Zim-SA relations get tense

Grace is still in South Africa and her husband, Zimbabwean President Robert Mugabe, is due to land in the country this afternoon.

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Cyril Ramaphosa's ex-wife says abuse allegations spread by EFF leader Julius Malema are an attempt to tarnish his reputation.

Bob Mugabe flying in, could sort out his wife's legal woes

Bob Mugabe flying in, could sort out his wife's legal woes

Political analyst David Monyae says this puts everyone including President Jacob Zuma and Robert Mugabe in an awkward situation.

Advanced communication system for Cape's neighbourhood watches

Advanced communication system for Cape's neighbourhood watches

The system allows neighbourhood watches to relay incidents, post warnings or request emergency assistance.

Grace Mugabe has a history of violence

Grace Mugabe has a history of violence

Mail & Guardian Africa editor, Simon Allison says the recent incident of violence by Grace Mugabe is certainly not the first.

Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

The Money Show’s Bruce Whitfield interviews the advertising expert about the best and worst new advertisements.

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

Gabriella Engels says she is saddened by people who are calling her names on Twitter before they understand the full story.

Discovery CEO (and founder) Adrian Gore bares his soul about money

Discovery CEO (and founder) Adrian Gore bares his soul about money

The Money Show’s Bruce Whitfield interviews Gore about his attitude to money (hopes and fears, successes and failures, etc.).