Have you started Budgeting for the festive season?

Did you spend money on things you shouldn’t have

last festive season?

Here are some tips on how to budget  your money so you won’t be eating crackers in January

1. Do your research on what it is that you would like to buy with your money

With technology today, you can log onto any online shop and compare the prices of the presents that you would like to buy. Some of these online shops have massive deals so you can save on some great gifts that would help you save some money for Jan when you step out on campus.

2. You need to work out a budget 

It is dangerous spending money without knowing how much you actually have to spend on gifts. Work out what you will have to pay during December AND January in terms of bills (debit orders, rent, water & lights, phone bills, clothing accounts etc) and living essentials (food, transport, airtime) to see how much extra money you have left to spend on your gifts.

3. Think before you swipe

If you have a debit or credit card, you’ll know how easy it is to swipe and pay for something that’s caught your eye at the shops without thinking about your budget. If you’re about to go shopping, stop and think about your budget, then limit yourself to a maximum amount of money you should allow yourself to spend while shopping.

4. Make lists

It sounds silly, but making a list of presents and other things you might need to buy if you’re going on a trip or having a party will u money. If you stick to the list, it will prevent you from getting distracted by other things in the shops.save yo

5. Take out your family cookbook

Buying cakes and other ready-made Christmas treats from the shops is so easy, but you could save so much money by making some great homemade treats. This year, do something different – your festive delicacies will be a hit with friends, family and neighbours, and your efforts will be totally worth it. This way you skip going to lavish parties and rather entertain with the snacks or food that you have prepared. You could even suggest a braai – where most guests would ask if they can bring something along. Score!

Contact Seed of prosperity for a budget mentorship (010 900 3064)

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