It’s that time of the year again.
Christmas and New Year is just around the corner and despite it being the time to lean back and relax, there is still the issue of overspending that is looming and will probably dampen the holiday spirit.
It is understandable to spoil yourself and your loved ones by spending more past your intended budget during this season; so what happens when the much dreaded January arrives and you suddenly remember that you still have bills to pay and house shopping to do?
Here are some helpful tips to prevent you from getting into a pickle after the festive season.
Save! Save! Save!
This is probably the most logical solution to the problem of overspending.
Centonomy founder Waceke Nduati strongly advocates for saving especially when it comes to recreational activities.
“Identify the things you want to do, budget for those things and put money aside for them now,” she advises.
In other words, have a holiday budget so that when January creeps in you have a back-up plan.
Maximize on deals
Contrary to popular belief, taking up deals is actually not being cheap.
Beyond the Limit author and Residual Income coach Paddy Jayson Mwangi advises on maximizing on holiday deals to help relieve the need to overspend during the holidays.
“Plan to go on holidays as a group. Don’t just go on holiday by yourself. You can all pre-book for a holiday and negotiate as a group in terms of payment,”
Paddy further urges on the need to negotiate as a group so as to fully exploit the offer on the table to receive the best prices.
Stop inviting everyone at once
If you are planning a get together for the holidays, it is okay to not invite the entire community to your soiree.
“A good trick is not to invite everyone at once. Create a list of those people that you want to come and those that you can meet some other time besides the holiday season,” says Paddy Jayson.
By doing so you help reduce costs, stress levels and actually end up enjoying your party as the host which can be a rare luxury when you have to worry about a large number of people in your house.
Avoid places that are going to make you spend money
Hanging around places that tempt you to spend money is one of the reasons behind overspending.
“If you hang out in places like malls, chances are you are going to want to spend money,” says Ms Nduati
Ms Nduati advises on avoiding such places in order to reduce your chances of spending money that was not intended to be spent.
Focus on what is important
It has been a long year and you have not been able to interact with your loved ones properly- this is the time to do that.
There you have it, simple ways to cut down on costs during the festive season.