It\u2019s not called the silly season for nothing.<\/p>\n
It\u2019s time to let loose with endless parties, a time to spoil yourself and others.<\/p>
But it doesn\u2019t mean you have to be silly with your finances, too.<\/p>\n
With a little planning and strategising, you could ensure your bank balance stays on the positive side of zero in the new year.<\/p>
Expenses often seem to spiral out of control at this time of year because there are so many temptations to spend.<\/p>\n
However, there are a few things you can do to keep costs as low as possible and still enjoy the festive spirit of the season.<\/p>\n
The first thing to do is to sort out your regular monthly expenses.<\/p>\n
When you receive your salary, make sure you put the correct amount aside to cover monthly bond and car payments and any other expenses you may have before starting your Christmas spending.<\/p>\n
In an ideal situation, you already started saving for Christmas earlier on in the year, but even if you haven\u2019t; it\u2019s never too late to start planning.<\/p>\n
Once you\u2019ve \u201cpaid yourself\u201d, figure out how much you can afford to spend on presents, food and entertainment during this period \u2013 and make sure you stick to it.<\/p>\n
When it comes to buying presents, remember it\u2019s not about the size of the present or how many presents there are.<\/p>\n
Make a list of people who you would like to buy presents for and include a budget for each present and avoid impulse buying.<\/p>\n
Many families nowadays have introduced a \u201cchildren only\u201d rule which helps to lower the present bill significantly.<\/p>\n
An option for the adults is to have a Secret Santa, where each person buys a present for one adult, usually drawing a name out of a hat and sticking to an agreed upon budget.<\/p>\n
Taking the time to make gifts for your loved ones is another great way to save money, and these small, thoughtful gifts are usually more treasured than anything you\u2019ll buy in a department store.<\/p>\n
A quick search for \u201cDIY Gifts\u201d on Pinterest should get the creative juices flowing.<\/p>\n
One of the best ways to spend within your budget is to look at buying previously owned goods, especially when it comes to electronics.<\/p>\n
\u201cIn September and October we usually see an increase in people looking to sell their electronic goods, particularly items like tablets, laptops, cellphones, gaming consoles and games and TV\u2019s, DVD players and sound systems.<\/p>\n
\u201cThey\u2019re usually looking to fund the purchase of new gadgets and holiday gifts.<\/p>\n
\u201cJanuary is also a month where you\u2019ll find excellent second hand electronics as people trade in older models to make use of the newer gifts they received,\u201d said Richard Mukheibir, CEO of Cash Converters, the largest second hand goods franchise in the world.<\/p>\n
\u201cThe recent SA launch of the iPhone 6 saw many people trading in perfectly good phones so they could upgrade to the newer model.<\/p>\n
\u201cFor people looking to spoil a loved one with gadgetry, it\u2019s a good idea to take a look at what\u2019s on offer at previously-owned stores like Cash Converters.<\/p>\n
\u201cYou can buy something that\u2019s as good as new, for two thirds or half of the price.\u201d<\/p>\n
Besides gadgets, you will also find a host of functional and practical items like furniture, DIY tools, kitchen utensils and appliances and sports equipment, etc.<\/p>\n
Musical instruments are also a big selling item, particularly for children starting to play an instrument.<\/p>\n
Mukheibir cautions that when you purchase previously owned goods, make you\u2019re getting a good quality item.<\/p>\n
A six-month guarantee on most Cash Converters products ensures that any faulty goods returned within six months will be replaced, repaired or refunded.<\/p>\n
This year, keep the financial stress out of Christmas.<\/p>\n
Look for fun and innovative ways to cut back on expenditure \u2013 and remember, holidays are about giving love more than they\u2019re about giving material goods.<\/p>\n
Think about why you celebrate Christmas and get back to basics.<\/p>\n