Tips for surviving the financial pinch this Christmas

Manage your budget and debt better over the holidays

As the festive season approaches, we all feel the pressure on our pocket, whether it’s the cost of a holiday, the price of gifts or the cost of entertaining family and friends

Holiday Season Budgeting

We often put ourselves under financial strain which can have knock on consequences well into the new year. We can help you manage your budget and debt.

Tips for surviving the financial pinch that comes with Christmas.

Happy holidays

Consider the most economical way to travel. If you are on your own a plane ticket may not be much more than a car drive once you have factored in the petrol, wear and tear on your car and tolls. However, for a family of four travelling by car would almost certainly be cheaper than four air tickets. You may also want to consider public transport such as minibus taxi, bus or train, which would also provide with an opportunity to enjoy the scenery.

Make sure that you choose holiday accommodation that suits your pocket. If you have the option to stay with family or friends do that instead of paying off someone else’s bond.

If you are going away make sure you have turned off all electrical items in your house that could carry on costing you money like the geyser or an empty fridge that doesn’t need to stay on.

Festive food

During the festive season we tend to eat out more, or cook more elaborate meals. In our recent health hub article, Registered Dietician Melanie Sher, provides 10 tips for healthy eating on a budget. This includes proper meal planning and much more.

Make sure you budget accordingly

Failing to plan is planning to fail. Ensure you have setup your budgets both for the festive season and the new year. First take our budget quiz and then read our budget guide. Once you are in the right frame of mind, take the time to sit in a calm and quiet space and setup your budget using this handy template.

Remember to set aside savings for unforeseen expenses, and big ticket items like new school clothes.

What if I’m already in financial trouble?

Legal & Tax members have access to our Debt Assist service operated by professionals who include registered debt counsellors, attorneys and experienced negotiators. If you do not wish to be placed under debt review, we can negotiate payment arrangements on your behalf and assist by asking for extensions to avoid repossession of your assets or assess whether sequestration may be the best option to relieve your financial stress.

We offer you access to unlimited advice, from budgeting to taking out loans and offer protection from being harassed and pressured by credit providers and debt collectors.

We’ll help you restore and improve your credit record profile.

Need more information

For more information or to speak to one of our professional debt advisors, call 0860 587 587, email info@legalandtax.co.za or sms SMS “Debt” to 31690.

Read more articles

More articles can be found on the info hub.

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