Okay it’s only January, you’ve just finished with Christmas and New Years and rumour has it hot cross buns are in stores already. BUT now is the time to plan for your 2019 festive season!
Why? Because if you didn’t plan this year there is a fair chance you are in for a big credit card bill or your savings have taken a hit. Or worse your after pay account is charging you interest 🤦♀️
So bite the bullet and plan now!
1. Work out how much you would like to spend on the festive season:
- Gifts – number x amount to spend on each
* Think of every extra cost you have during the festive season.
2. Review what you spent in November and December 2018.
3. Look at the two and decide which amount is appropriate and within your budget to spend on the festive season.
4. Divide this figure by 11 months (don’t count December)
5. Now you know how much you need to save from now until November to spend up guilt free in December!
6. Double check this monthly amount fits into your monthly budget.
7. Save this amount in a separate free savings account, cash in an envelope or jar.
8. Don’t touch it until you need to start Christmas spending for 2019.
And that is how you can have the Festive Season celebrations you want without a financial hangover and without guilt.
- If you have some left over debt from Christmas 2018. Knock them out before you start saving, work out a monthly plan.
- If you like to spend up big for NYE or holidays and activities over summer, work this into your budget too!
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