Did you spend money on things you shouldn’t have this festive season? This could leave you in a difficult predicament for when you step out on varsity in Jan next year. Here is some tips on how to budget so you won’t be eating crackers in January when you start your new varsity adventure:
1. Do your research on what it is that you would like to buy
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 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 save you money. If you stick to the list, it will prevent you from getting distracted by other things in the shops.
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!
6. DIY because anybody can!
Instead of going to a shopping mall, taking time to handpick each gift for family and friends – have you thought of rather making them something with materials that you already have in your house?
Remember: thoughtful gifts don’t have to be expensive. You probably aren’t the only person in your circle who wants to cut back on holiday spending. So, talk to everyone that you have invited for your festive event and setup some rules that you all can agree to:
- exchange only things you can eat or drink;
- give handmade gifts only;
- give money to a charity or
- do not exchange gifts at all
Hope that you have a great festive season with your friends and family!