“When you are used to getting paid between the 25th and 30th of the month and suddenly you get paid on the 15th or the 20th, January will be the longest month in your calender’’, says John Manyike, the Head of Financial Education at Old Mutual. Manyike explains that people have to try to survive for about 6 weeks which requires a lot of discipline.
The idea of overcoming the December fever can be hard but, you need to have a festive season budget and stick to it. Always be mindful of back- to- school expenses and debts that need to prioritised before over spending. “Spend what is left if you have money to spend, in essence your spending needs to planned and you should remain committed to your budget,” John advises.
January is generally a tough month for most people and this is primarily due to a lack of planning and the refusal to live within one’s means. “The reality is that when we overspend during December our debt obligations remain, and as expected debit orders will bounce because of ‘insufficient funds’ in the account. As a short-term measure, consumers may approach a lender to make up for the short-fall, but this only piles on the debt and makes situation even worse,” says Manyike.
persfinza A bit late IOL...A week before payday. We needed this tip the 37 day of January.
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แหล่ง: IOL - 🏆 46. / 51 อ่านเพิ่มเติม »
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