Before going out and spending your hard-earned money, we would like to give you some saving tips to ensure that you are not one of those folks who declare January month as “I’m broke” month. Here’s some of the ways to keep your cash in check this holiday:
• Make a list of the things you really need and stick to that list before you go shopping.
• Set some money aside for January.
• Avoid unnecessary travelling if you have not budgeted for it.
• Avoid borrowing money for entertainment purposes. Avoid borrowing money at all, if it can be avoided.
• If a parent, set aside money for school uniforms and school fees for next year.
• Make what you can by hand, especially when it comes to gifts.
• Don’t buy unnecessary items/gifts on account.
• Set yourself a spending limit.
• Invite family and friends and share the cost of Christmas lunch between everyone.
• Make a list of the people you would like to buy gifts for, put a limit next to each name, and add it all up. If it’s too much money, review the limits you set.
• Don’t leave shopping until the last minute. Rather buy things throughout the year.
• Start a Christmas fund at the beginning of each year and add to it every month.
• Don’t rely on credit cards. It’s not worth spending money that is not yours.
If you want to create wealth, it is imperative that you believe that you are at the steering wheel of life, especially your financial life.
– T. Harv Eker