\u201cWe need to be financially responsible and financially smart throughout the year, but especially around Christmas and New Year, when money can fly out of your pocket at a pace.<\/p>\n
\u201cYour household budget should be able to withstand the test of the festive season considering that you will have almost six weeks before the next pay day,\u201d says Eunice Sibiya, FNB head of Consumer Education.<\/p>
Remember your January obligations and spend wisely.<\/p>\n
She says when you draw up your budget for this time of year; you should allocate the appropriate funds to all the extra costs at this time of year. These could include items such as travel, gifts and entertainment.<\/p>
If you\u2019re easily tempted and can\u2019t withstand the shiny lights and music that comes with this time of year, you\u2019ll need to put plans into place.<\/p>\n
\u201cIf you are going out for the evening, then only take a certain amount of cash with you for the night and once your cash is done, so is your evening. Also try to cut down where you can.\u201d<\/p>\n
Gifts<\/strong><\/p>\n The biggest culprit of excessive spending is shopping and spending time in malls, but you could stay out of the malls and do your shopping online or spend time elsewhere.<\/p>\n Shopping online will not only help with the temptation of spending more money at the shops, but it will save on petrol as well, as most online shopping sites provide delivery of goods for free, or at a minimal fee.<\/p>\n Start budgeting for presents now. There\u2019s no reason why you can\u2019t buy presents throughout the year. By December you\u2019ll have a stockpile of presents, it will ease the burden on your pocket during the mad rush and help you avoid falling victim to impulsive buying during this period. Also make sure that your gift is useful.<\/p>\n \u201cIf you are going out for the evening, then only take a certain amount of cash with you for the night and once your cash is done, so is your evening. Also try to cut down where you can.\u201d<\/p><\/blockquote>\n When it comes to affordable gifts, the value of getting creative should never be underestimated. Encouraging your children to make presents for their friends and cousins as opposed to buying them creates the culture that it is not \u201call about the gift\u201d but that it\u2019s truly the thought that counts and it is a great way to unleash their creative juices. Perhaps as an introduction to this idea, consider buying your children books that are filled with homemade gift ideas.<\/p>\n Children<\/strong><\/p>\n If you choose to buy, buy presents that two or more kids can enjoy, instead of buying individual presents. For example, board games will keep them busy indoors while promoting interaction even with adults, while sporting gear like a bat and ball set will keep them busy outside.<\/p>\n It\u2019s good exercise and develops social skills such as sharing. Another good idea for a present is to give your child an \u201cexperience\u201d as a present.<\/p>\n Encouraging your children to make presents for their friends and cousins as opposed to buying them creates the culture that it is not \u201call about the gift\u201d but that it\u2019s truly the thought that counts and it is a great way to unleash their creative juices.<\/p><\/blockquote>\n If you or someone you know has a cool toy, like a hot air balloon or four-by-four, then take your kids out on an adventure.<\/p>\n Children might like toys but also consider buying them interesting material or education toys for their next school year; this is a way of cutting future costs and investing in their education.<\/p>\n Adults<\/strong><\/p>\n Presents always add up, but there are ways to keep costs down, particularly for the adults. Try Secret Santa with family or a group of friends.<\/p>\n All the adults taking part put their names in a hat. Everyone draws one name and you buy a gift for that person only.<\/p>\n The group can decide on a monetary limit for the gift to keep everything fair. You could also create a \u201cwish list\u201d from which your loved ones could buy from, either as individuals or a group. This way, you\u2019re assured of getting something you really want.<\/p>\n Check out these gift tips for him<\/strong><\/em><\/p>\n