It is always interesting to see people rushing off to the shops as the year comes to an end. With bulging pockets and that carefree feeling, it is difficult to curb your spending, but do keep your budget in mind.
Here are some tips for setting up a budget and how to stick to it:
First calculate how much money you have coming in during December and January, this includes your bonus or 13th cheque.
Write down every single bill you have to pay during the next two months, from electricity/ water, rent/bond, to credit card repayments, then make the payments in advance if possible. Make a list of all your everyday expenses, such as petrol and groceries (including the extras for the Christmas lunch or dinner). Buy all your back to school items now, so you know it is done.
Make a list of the items you have to buy for friends and family, and try to get accurate quotes. Make sure you have enough money spare in the case of emergency, such as a new tyre or a sick animal.
Deduct your total costs from your income over the two months, and see how much you have left to spare. Then you can go and spend it on a well deserved holiday with your family with total peace of mind.
Whatever you do and where ever you are this holiday period, let it be a safe, fun time for you and your entire family and friends.
We wish all Your Money readers a safe and festive season.