Tips for the December budget

Every year Christmas and New Year are two big days that come with an excuse to spend. It‘s very natural to delight in parties and shopping but we have to be careful not to let expenses get over the top and leave us penniless after the holiday season. This season is not an excuse to spend every penny you have saved, you only need to be creative on how you spend your money and you still enjoy your season. Here are some tips to follow: TIP I Know your income: If you for example earn Rwf300,000, and you have your regular expenses, make sure you clear them first. Do not try to spend at least 4 percent on your new expenses because it might be too much to recover later. TIP 2 Make a list: One thing I like about the list is that you keep track of what you really want and those that you can do without. Your list should include the pledge you made at a friend’s wedding meeting, house rent, groceries, saloon (for ladies), and fro a new attire for a party or dinner you might be invited to. TIP 3 Shop as early as possible: Do not wait when everybody is paving his/her way in shops around town because you will not get the attention you need from the shop attendant. Also one thing you should note here is that business owners take advantage of clients when we do late shopping by increasing the prices of items. Be careful and don’t get carried away with the fake adverts claiming to have cut price by 50 percent or less yet in actual sense it is an increase by the same amount. You only need to know the original amount to be sure an item’s price has been reduced. TIP 4 Save as much as you can. For those with monthly salaries and allowances it’s a bit tricky when your salary remains the same. But for the self employed, try your best to work extra hours because you do not want to miss a penny coming in at any cost.All you need to remember is that, there is a normal life a head of you and you will still be responsible for the small financial mistakes made. Therefore, do not miss out on what makes you happy and plan accordingly as we welcome the birth of our saviour and the New Year. Happy Holidays! umurungidiana@yahoo.co.uk