TIPS TO EXTEND THE LIFE OF YOUR FESTIVE SALARY

It’s been a long year. You’ve worked hard and the temptation to let go and splurge on yourself and loved ones is overwhelming.

After all – you deserve it.

But if you’re not one of the lucky ones getting a bonus, then December is no different from any other time of the year. Remember, you do not have more money to spend other than your monthly salary, so you’re going to have to make it go even further than during the year.

Here’s how:

GIFTS & SHOPPING

Agree with friends and family to only spend a certain amount on gifts. That way, you don’t feel pressured into buying expensive things.

Plan ahead for gifts – last-minute shopping is always going to cost you more.

Be careful of offers with “free gifts” or “gift vouchers” attached. It’s not a good deal if it’s not something you really want or need.

Now is NOT the time to open a store account. You don’t want to start a new year paying off sky-high accounts.

Ever bought something just because it’s on sale? Purchasing unnecessary items because they’re on an Xmas sale is a spending trap.

HOLIDAY SPENDING

When you go out, only take a certain amount of cash with you. Once that’s done, so are you.

Don’t spend all your time (and money) at restaurants. Invite friends over to your house for a braai and ask them to bring a side dish.

Make a realistic holiday budget, and stick to it. If you overspend on one day, then take it easy the next to balance it out.