Can you believe it, it is that time of the year again? The holiday season the time where we overspend of gifts and the Black Friday frenzy. I am going to talk to you about how to financially survive the crazy holiday season.
We worked hard throughout the year to follow the budget and save just to let all that hard work and savings go down the drain. The decorations are up my daughter pointed them out to me yesterday. she loves Christmas and the whole buy 3 and pay only for 2 sales. She is only 9 years old.
It is time to buy, buy and buy. The holiday season is the toughest to stay disciplined with our personal finances and the stores will be calling you now to start offering you credit left to right and center.
It is temptation overload, but you can survive the crazy holiday season without debt.
Here are some tips on how to financially survive the crazy holiday season;
1. Continue to live within your means
Don’t buy gifts on credit, it is a bad idea that you will feel at the beginning of 2019. Continue to live within your means.
2. Have a holiday shopping list and double check it
Just as you do your grocery list, make a list for buying gifts for your family. Having a list will help you set up a budget and will help you buy your gifts wisely and cost friendly. This will help you stay on your budget course without overspending.
3. Lookout for sales
Remember not every sale sign is worth it and budget friendly. Again, look out for deals that my daughter knows so well buy 2 and get one free.
Spend wisely just because the sign says its 50% does not necessarily mean it is, do your homework and make it worth your money.
Make the Black Friday and Cyber Sales work for you not against you. Make an R100.00 a gift game to encourage not over spending money on unnecessary material things.
4. Create a Holiday Account
This should have been done at the beginning of the year. Last minute holiday planning is costly and very expensive. You will end up paying more than you bargained for and go into that credit card you worked hard to pay off. Be smart about it and go on a holiday that you can afford alright.
5. Holiday Spending Money
Are you planning to seek out paid entertainment outside your home? If you then set a budget that will last, you for the entire holiday season. Once your holiday spending money runs out seek free entertainment and events.
6. Have a Game Plan
The holiday season is a time when people accumulate a lot of debt, which sets you back on your year-long progress. Have a game plan otherwise, you will be back to where you started, insanity is doing the same thing repeatedly and expecting a different result.
At the end of the day be grateful with what you have and what you can afford. Don’t worry about what the Khumalo’s are doing or going for a holiday.
Have a budget, shop early and save more.