by Kathryn Main, founder of Money Savvy Kids
The most wonderful time of the year is also the most expensive. When the Christmas spirit takes over, that one crucial ability to save is conveniently misplaced. This loss of ability is seldom noticed, but will deal a detrimental blow to your bank account in the long run. Money Savvy Kids (MSK) is built on the foundations of saving and budgeting, just to name a few. And it is here to help you through the hardest time of the year by saving and budgeting your way to a worry-free January.
Christmas past is key. Learning from previous Christmas spending blunders is a good place to start when it comes to creating a new and improved Christmas budget. Since you are turning a new financial savvy leaf, an in-depth look into your previous Christmas spending habits is the first step. Once this is done, it is easier to see where you can cut costs for the coming festive season.
Here are some tips
Cash in your loyalty points. That Dischem card you have been swiping all year will become the second most important card in your wallet or purse this Christmas. Make sure to ask in-store and browse online for all the rewards that you are owed, as well as all discounts available to you before handing over cold-hard cash when buying presents for loved ones.
Use a debit card as opposed to a credit card. This is crucial to making sure there are no outstanding balances that need to be paid once January rolls around. Having your Christmas savings configured to a debit card ensures that there will be a limit to what you can use for your Christmas spending list.
Don’t be tempted to spend your whole bonus on a holiday. Save at least 30% of your bonus and allocate 25% to paying off debt.
Don’t give yourself the gift of debt this December.
Christmas is the time to create new memories with family and friends. With MSK you can create a new savings story that will benefit you and your family’s personal finances for many Christmases to come.
More about Money Savvy Kids:
Money Savvy Kids is revolutionizing the way financial knowledge is disseminated to younger generations of South Africans. It is questioning the traditional schooling system, which currently produces more followers than leaders. It infuses children, from a very young age, with the problem-solving and critical thinking skills they need to make financial decisions now and, in the future, using the analytical skills they learn through the program. Find out more about Money Savvy Kids: www.moneysavvykids.co.za
About Kathryn Main
Some words that spring to mind when describing Kathryn Main are quirky, determined, visionary and masterful. She is a financial and marketing guru and brings a wealth of experience and knowledge to the table. Her money savvy formula is also the reason you can experience financial freedom in the workplace.
Find out more
WEBSITE | FACEBOOK | TWITTER | INSTAGRAM | EMAIL kathryn@moneysavvykids.co.za
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