Get pumped, fam, Dezemba is only a few months away and that means friends, family, time in the sun, fashionable masks and socially distant fun! I bet you want to know what will make this sunshine-filled month even more exciting? Being able to spend that cash without being stressed about busting your savings, of course. Having a savings strategy ahead of time can definitely help you cover all of your vaycay costs without racking up any debt. It is all about being prepared!
Which is why we have enlisted the help of Shaakira Nalla, the accountant and blogger behind ‘Pout and About’. If you have not spotted her on the interwebs yet, you had better get searching! Shaakira is all about helping you become your best self in every way – from what skincare to use, where to eat and where to travel, to how you should manage your money.
Here are five easy-peasy tips by Shaakira to get you started:
1. Make a budget and stick to it.
1.1.Ensure that your budget includes a savings section. My personal favourite is the 50:30:20 budget.
i. 50: Needs
- Groceries
- Housing
- Utilities
- Medical aid
- Car and other payments
ii.30: Wants
- Shopping
- Dining out
- Hobbies
iii. 20: Saving
- Keep your savings safe by opening a savings MyPocket on your Nedbank or Unlocked.Me Account.
1.2. This tried-and-tested method will ensure that you have extra money for December without being broke in January.
1.3. Learn more about this method.
2. Start buying your Christmas gifts early.
Start your shopping early and make use of deals that stores or online stores have during the year. My favourite splurge for gifts is Black Friday. Just make sure you practise social distancing this Black Friday or do your shopping online this year. Stay safe.
3.Plan how you are going to use your December salary to ensure that it lasts the whole of December and January.
Prioritise spending by putting your debit orders and essentials first. Then analyse what you have left and plan your holiday splurge.
4.Plan your December travels way in advance.
The closer to the date of travel, the more expensive the flights and accommodation are. If you know you want to travel in December or January, look for deals during the year as there are often steals.
5.Tuck your credit card away until you’re back from vaycay.
Owning a credit card is great to get a good credit score if you need to buy a house or car, however credit cards often give a false sense of having more money than what is actually in your bank account. Pack it away while you plan for your holiday so that you keep yourself in check. Avoid being tempted to swipe for more than you have, as this will end up putting you further into debt.
Give Shaakira some love!
- Find her on Instagram: @shaakira_nalla
