Hey there, its Christmas already, but I bet you already know from the decoration that don the walls you favourite mall. So have you planned your finances for this holiday or will you still circle the familiar pitfalls of December festivities and then January’s financial dip?
Maybe you have not thought this through ey? Well, we have a few hacks that will give you financial continuum come January. Here we go:
It may seem like an old an inefficient trick but you will understand its perks once you try it. Doing all your shopping at once gives you economy of scale, loosely translated to mean the more items you buy in large quantities the cheaper it is especially since larger quantities mean lower prices. This is a great way to save some money for you this Christmas, write a list of everything you need and get it in large quantities. It also gives you longer periods of peace of mind.
Before you set money aside for pleasure, focus on the more important stuff like school fees and textbooks that will without a doubt be staring at your face come January next year, once you have set money aside for this then you can divide the remainder between the festivities and subsistence. This is a watertight plan that ensures that come January you will still have a grip of all your finances in check despite having had fun.
During festive seasons, it is easy to find shops that inflate their prices. It’s nothing new, to circle the pitfalls of losing your money to inflation by such shops it is important to compare prices of items that you intend to buy this way you can have an idea of how much the item costs and where you can get the best deal for it.
It’s been a long year, you have been a loyal customer at your favorite supermarket right? You must have accumulated a good number of loyalty points right? Now is a great time to use them for shopping. Don’t you think? Then you can reset the clocks and begin gaining new loyalty points at the beginning of next year. That will sure help you on saving this holiday season.
On average, going out ends in a lot of spending, in the spirit of Christmas we could opt to stay indoors and have great family time. Isn’t that the whole point of Christmas anyway? This way not only do you save on money that you would have to spend going out but you also improve family bonds and ties.
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