It’s silly season again and retailers are out in full force to try and share in the upcoming spending spree by consumers who are looking for those special deals. Here are a few tips to make sure you don’t spend your hard-earned money on deals that will turn out to be not-so-special…
1. Don’t spend what you don’t have.
A discounted item is only a good idea if you have the funds to afford the final purchase price. You don’t save money by purchasing something that is 40% off…you still have to pay for the 60%.
2. Stick to your budget.
Sit down and budget for this period. Compare your income/savings with your fixed monthly expenses as well as additional expenses over the holiday period. If you then have disposable funds left over then stick to that budget.
3. Make a list
Make a list of goods that you actually need and try to find specials for those items during this time. Although difficult, it’s a good idea to only look at items that you really need. Something that might have broken recently that you need to replace. It’s an expense that you are going to incur at some point, and this time of the year offers some good deals.
4. Put away the shovel.
If you are already struggling to keep up with your finances and debt repayments, then it’s better to not over-spend during this period. Don’t dig the hole any deeper by making even more debt. Rather talk to a Debtsafe consultant and let’s start your New Beginning towards healthier finances.
5. Don’t forget about January!
The longest month of the year when it comes to finances – make sure you plan ahead and put money away for 2026. Registration fees, school fees, subscription fees, tuition fees, extra travel expenses, groceries, and more.
Financial wellness is a journey that is built on consistency, discipline and one good decision after another. Spend wisely this holiday season.