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 Here are six top savings tips to help you stretch your cash this festive season:
START WITH A BUDGET
Draw up a list of the bills you have to pay each month. Whatever cash is left is what you have to spend on luxuries and fun activities. Impose a daily spending limit – in other words, a budget – so you don’t blow your extra cash in one go.
HAVE A SIMPLE SPENDING TEST
Ask yourself if you really need something or simply want it. If you need it, pay for it.
Don’t lose sight of your money priorities Saving is not as much fun as splashing out on gifts and exciting activities, but it will give you the peace of mind that you have cash for emergencies and unexpected bills. Before you spend on non-essentials, set aside money. A good way to build a cash nest egg is to save 10% of every cent you earn.
SET A GIFTING BUDGET
Make a list of people for whom you want to buy gifts. Allocate a budget for each gift (see box below) and consider buying presents with other family members and friends - agree on one great present for each person.
ENJOY GOOD TIMES FOR LESS
Alternate more expensive activities with ones that are fun but don’t cost much. Have coffee dates instead of lunch dates with friends, because this is less pricey than a meal. Opt for “bring and braais”. These are just a couple of ways you can help curb the costs of being on holiday.
PLAN AHEAD AND HUNT FOR GOOD DEALS
With air fares, for example, the earlier you book, the easier it is to find specials. But if you’ve left it too late, consider sharing costs with someone who is driving. Trains and busses can also be cheap, fun ways to get around. Remember that you can book with Mango and Greyhound using your Edgars account. |