With many South Africans going on holiday, enjoying a well-deserved break this December, the same cannot be said for the nation’s rollercoaster economy. Due to the country’s financial uncertainty and the upcoming Janu-worry, saving every single rand counts this festive period.
Below are a few tips you can put in place when trying to save money this holiday season.
Save on food
For some, food is an important part of the holidays, but if you want to save some rands, you will have to reconsider some of your edible purchases. According to Home-Connect (a local internet services provider), one way to save on food is to pick the cheaper option. “Every extra R20, R30 or R40 that you spend on premium items, though you may not feel it in the moment, often leaves you with too much month at the end your money.”
Budget correctly
Local financial service provider OneDebt notes that budgeting is a key skill that most adults take for granted. Through budgeting, you can have a better idea of your shopping costs and prevent yourself from carrying extra money that may tempt you into overspending. “Once you get the hang of budgeting for smaller sums of money, budget for the big expenses in life. Such an expense could be gifts for the whole family or a vacation trip during the holiday season,” says OneDebt.
Rethink holiday gifts
Bigger is not always better and the latest may not be the greatest for your pocket this holiday season. OneDebt suggests, “Consider forming new family traditions like having home-cooked meals and hand-made or personalised gifts. Share experiences and create treasured memories rather than focusing on material things.”
