Are you receiving a little extra this December?
If you are lucky enough to be getting a thirteenth cheque or an annual bonus – congratulations! But before you start making wish lists, it might be a good idea to stop and think before spending it on a holiday, or other luxuries – whether for yourself or those you love.
The December holidays tend to make us all act a little less cautiously when it comes to money. As much fun as you want to have while making new memories, try to remember that you do still have to get through January. If you have children, January can add additional financial pressure with the cost of new school uniforms, books and so on. It is also important to keep in mind the rest of the year or the years to come. In these trying times, many months are tough ones, with rising food, petrol, and electricity prices, to name but a few of the challenges that we are all facing.
It might be worth it to take a minute to consider how valuable that gift, holiday, or outing really is in the long term. Here are a few ideas to help put a safety belt on your spending this summer.
Go easy on the gifts. Consider starting a ‘Secret Santa’ tradition where everyone draws one name out of a hat, and buys a gift only for that one person, with an agreed-upon spending limit attached. This has the added advantage that you will be getting a single thoughtful gift from someone in your friendship circle or family group rather than multiple token gifts. It also means spending less time in the frantically busy shops too. What’s not to like?
Local is lekker. We live in a remarkably beautiful country. There’s no need to travel very far to experience natural beauty. Similarly, your accommodation doesn’t have to be five-star! After all, if you’re on holiday, you won’t be spending very much time in your residence in any case. So, get out there and explore your province on a shoestring budget.
List your limits – and let others know. If you have a budget for the holidays, which is highly recommended, be sure that you share it with those you will be with and encourage them to support your planned expenditure. That way, everyone can prioritise what they most want to do. It will be far less stressful than trying to squeeze in everyone’s demands even when you know that you can’t actually afford them.
The information in this communication is for information purposes and is not intended to be detailed advice described in the Financial Advisory and Intermediary Services Act. The fund, administrator and trustees cannot be held liable for damage or loss suffered as a result of any action that you take based on the contents of this communication.