Smart Festive Finance Tips
By Monde Nyovane & Ofentse Montshiwe l 5 December 2024
The festive season is upon us again and with the rising cost of living, it can be tough to budget for all the festivities. Don’t let reckless spending turn into unnecessary debts that will dampen your holiday spirit and a fresh start in the new year. You can enjoy the holidays without breaking the bank. Here are some smart festive finance tips brought to you in partnership with Mjojo Finance Play.
1. Remember the difference between needs and wants- January is just around the corner.
Make sure all of your necessities are paid before anything else. Don’t let January become a rude awakening, put the money for debit orders aside so you start the year on a positive note.
2. It’s easy to overspend during the holidays, so set a realistic budget and stick to it.
Don’t let your time for rest and bonding with family slip by because of overindulging. Keep it simple, it is essential to stay realistic and stay within your means. Make your money last by buying essentials in bulk, spending more leisure time at home and eating healthy.
3. Focus on meaningful gifts rather than expensive ones.
Meaningful gifts can mean thoughtful handmade crafts, spending quality time and having responsible fun with those closest to you- and it doesn’t have to cost a fortune. A good getaway does not have to be a five star splurge that’ll leave you feeling guilty.
4. If you can, start setting aside a small amount each month early on in the year, for holiday spending- to avoid debt.
With proper planning and efficient spending, you can make your money stretch till the new year. By using your spare time to learn a new skill, you could create a new source of income to supplement your salary.
5. Small, thoughtful steps like these can make a big difference.
No one is perfect, so do enjoy yourself responsibly, keep hydrated, and make plenty of time to rest. Small, thoughtful steps can make your festive be a time of peace, love and joy.
6. Invest in yourself
Whether it’s a good book, regular exercise or learning a new hobby- your spiritual, mental, physical health and well-being should be prioritised at all times. Take the time to introspect, appreciate the small wins and set realistic goals for a prosperous 2025.