While it can be fun to engage in frivolous spending this December, it is wise to remember that January, which is arguably the longest month of the year, is also fast approaching. Yes, some don’t realize it yet but January is just a few days away and as you already know, January can feel like 3 months!
There are so many parties, shows and concerts to attend this December, which is why the movement #DettyDecember was coined. Some have saved up money in anticipation for all the many expenses this period, while some are dependent on their December salary. Some people quickly forget that the next time they will be paid salaries is at the end of January, at least for companies who do not pay the 13th month package.
In order to have a smooth January financially speaking, we’ve put together a few guides to saving money.
1. Choose your #Detty well
Just because an event is holding somewhere near you doesn’t mean you have to attend. Most of the concerts and parties to attend usually require a fee and this is where a budget would come in handy. Make a smart list of events you surely cannot miss, in order of priority. Also, avoid impulsive “treats” as those little expenses will add up and deal a large blow to your pocket.
2. Stick to cash
Since you working with a budget, the trick is to withdraw only the amount of cash within the ambits of your budget for that particular event. When you run out of cash, it will discourage you from spending more. And please, fight the temptation of spending from your debit/credit card, and other electronic means of making payments.
3. Make a Shopping List
Part of the rave during the festive season is splurging on shopping items like foodstuff, household items, clothes, gifts etc. Equipped with your budget, you should also endeavor to make out a shopping list of the essentials so you can avoid impulse spendings. Shopping for Christmas in December isn’t the best, as vendors tend to hike prices due to market demand. Hence, your budget helps even more to keep you in check.
4. Track your spending
Use tracking apps and other every book-keeping methods to keep an eye on all that you’re spending on during the festive periods. Have a notepad where you sum up your expenses if possible, so you exacting how much is leaving your purse. This will allow you follow your budget; it will also aid you to see when you’re deviating.
Do you have money-saving tips that work for you? Share in comments below