The winter is official over, which means December is almost here. What better time to ensure your finances is in a better place than the run up to Christmas? Make sure you are ready for the festive season with a few of these tips to keep your finances in tip, top shape.
Make and stick to a budget
The best way to jump-start a new season is to get a “user-friendly” and manageable budget in place. It is important to balance your budget by not letting your expenses exceed your income. Refine your budget by eliminating splurges and luxuries, such as restaurant dinners or expensive clothes, replacing these with essential payments; such as medical aid fees.
Make use of convenient mobile apps, such as Unsplurge, JamJar or 22seven, to keep your budget on-hand. A budget shouldn’t be a burden, but an asset to help you manage your money better. It should help you avoid unnecessary spending.
Save a little wherever you can
You can educate yourself on money saving options by doing research on financial websites or by asking your friends about their savings techniques. Start by drawing up a savings plan and putting money into your savings account at the beginning of each month before all your debt orders go off.
You can save by keeping track of available bargains and by doing your homework before going shopping. The most important aspect of saving is to take the first step and to actually get started. Remember, when you are not saving you are certainly making more debt. By proactively focusing your efforts on saving, you can prevent excessive debt.
Resort to DIY before you head to the mall
Enjoy some fun in the sun this spring by getting creative and taking on a few do-it-yourself projects instead of buying new things. You will see that the few bucks that you manage to save do add some weight to your savings box in the end. Do small home repairs yourself to save a bit of money. Visit DIY websites to assist you.
Revamp your wardrobe rather than buying something new
Instead of buying a complete new wardrobe for the upcoming season, first look at what you can still wear. Try to fix old tops or turn that old dress into a shirt. Only buy a few absolutely necessary items for the summer.
Spread out your Christmas shopping
Instead of attempting to buy all your Christmas presents in December, start buying a few gifts now. Make a list of all the gifts you would like to buy and create a budget. Spread the spending over the next few months. By Christmas you will only need to spend a little bit of money, which gives you a bit of extra spending money to use on yourself during the holiday season.
Be open about your finances
It is always a good idea to talk to someone trustworthy about your financial situation and goals, especially if you are concerned about your finances. Say it as it is and reach out to your friends and loved ones. Don’t be afraid to approach professional financial advisor.
Put a spring in your step and take your financial situation to sunnier fields. By making use of these financial tips, you may not only enjoy the new season ahead, but also find yourself in a better financial season in the near future.