The holidays can be a lot of fun and they can be very stressful. It is the season of giving, which often means it is also the season of spending. One of the best things you can do to help make the holidays a lot less stressful is to create and stick to a holiday budget. Creating a holiday spending plan will reduce your stress. And make sure you don’t go into debt this holiday season.
To combat seasonal budget blues, commit to ditching credit card spending entirely. Instead use cash only during the holidays. If you don’t have it, don’t spend it. I discovered that with this approach, planning is everything. If you plan early, you’ll have a comfortable nest egg built up by the time you start making a list and checking it twice. (more…)
Impulse buy, we’ve all done it! We go to the store for one or two inexpensive items and end up throwing a few extra things into the trolley. They look appealing or seem to a great deal. These impulse buys can drive up the amount you pay at checkout. And we often kick ourselves afterwards for spending money on them.
Before you start feeling guilty about it, know that you are not alone.
You can, resist the urge to add unnecessary items to your cart. The first step is knowing what the stores are trying to tempt you with so you know what the impulse triggers are. (more…)
Let’s imagine for a second that tomorrow your car breaks down tomorrow. Your anxiety is building wondering how you are going to get to work and then there is the repair.
How do you plan on paying for the repair? Do you dip into your emergency savings, or pull out your credit card?
The truth is, these types of expenses can be detrimental to your budget. You need to have a system in place that will allow you to pay for certain planned expenses with cash. So you are not getting into debt.
That’s where sinking funds come in handy. (more…)
Sick of making home loan payments? They can be a huge drain on your budget, especially if your bond is eating up a large part of your income. Not to mention all the interest you’re paying on the loan over 20 years.
A home loan is one of the cheapest ways to borrow money for most of us. But it can still rack up some serious interest over a typical 20-year loan term.
Want to say goodbye to your bond before the 20 years?
Here is how some people pay off their home loan early. And shave thousands off their interest payments. (more…)
Wouldn’t it be nice if there was a magic formula or one easy trick that made it so you never had to worry about money again? If you’re tired of feeling stressed out about money it’s time to get a hold on your personal finances.
The realization of being broke at the end of the month is nothing short of a nightmare. You will be unable to do anything except to contemplate about where all the money went.
Here are a few things that can help you get control of your finances. Follow these steps, and your financial problems will start to lessen. (more…)
It’s interesting that most people think about money all the time and don’t know much about how it works. Let’s think about it for a moment…
You trade your labor (mental, emotional, or physical) for money. And then you take that money and you trade it for the labor of someone else. Whether it’s a retailer, grocer, or restauranteur.
Getting on the road to financial success is within your reach. If you are like many people today, you are probably feeling stuck or overwhelmed with your life. Feel like you can’t get ahead fast enough, save more money or even know where your money is going? (more…)
The holidays sneak up on us faster than the sudden emergency. So it’s important to start planning for them now.
As the holiday season gets underway, fine-tuning your budget may be a top priority. When you have a firm spending plan in place, it becomes easier to avoid the overspending trap. This can lead to racking up debt.
There is a trend for consumers to spend far more on their credit cards over the December period. According to FNB Credit Card, credit card customers spend, 22% more than the rest of the year.
Making a detailed shopping list and checking it twice can help you stick to your budget. But it’s not always foolproof. As you head to the stores here’s what you should be aware of to avoid wasting money during the holidays. (more…)
Habits are the regular tendencies we have that are hard to break. They are the things we do over and over without even thinking about. Our habits shape our lives – both for the good and the bad.
Even if you have the best of intentions, you can still find yourself getting into trouble with your money.
If you’ve been struggling with your finances, take a look at this list to make sure you’re not sabotaging yourself with these bad habits.
If you want to go with the flow, live in the moment, wind in your hair kind of life, you need a forward thinking prepared for anything kind of plan.
The news is out – South Africa is in a technical recession meaning you could be getting a lot less bang for your buck! Yikes!
It has been increasingly harder to make ends meet.
Here are some ways in which you can make sure that you don’t feel the pinch of the recession too much.
An expense here, a new credit card there. Repeat the process a few times and the next thing you know you have a stack of bills to pay every month. Having too many bills is a situation that’s ripe for financial ruin. If you don’t change something soon, your money troubles will only get worse. Exhausting your income each month is one of the spending habits that can lead to debt. Particularly if you’re using your credit cards to fill in gaps. (more…)