Do you find that you are in the red every month but don’t know how you got there? You may not know it but your spending habits could be why your finances are a mess. Angelique Ruzicka surveys four spending habits that you could be following that is making you poorer every month.
31 March 2015
It is possible to spend almost as much money over the Easter Holiday period as you would over the December festive season.
Be conscious of the amount of money you spend during holiday periods is so that you do not overspend and end up with post-holiday debt.
Wouldn’t you like to have a memorable Easter holiday without spending your total monthly budget? Here are some suggestions on how you can enjoy the Easter holidays within your financial means:
1. Don’t use your savings for Easter festivities
- Your savings are there for your retirement or emergencies, and should not be touched for unnecessary expenses that you have not budgeted for.
- If you have a lump sum of cash, rather settle outstanding debts before spending on holiday festivities.
2. Celebrate Easter at home
- Easter activities in the comfort of your home can be the most rewarding and fun.
- An Easter treasure hunt is sure to keep the family entertained and busy all of which can be done on a budget.
- Easter is a time for family to spend time together. Activities which involve the whole family makes the day more enjoyable without having to overspend.
3. Don’t overspend on clothing
- Do not buy brand new clothing just because it is Easter. Rather get a “new to you” outfit from your local consignment store for much less than the retail cost.
- Easter is just another day and spending a fortune on clothing that you will only wear for a few hours is not really worth it.
- Get an outfit that can be worn for all special events and festive holidays.
- Retail stores tend to increase their process during the holiday period. Consider purchasing your Easter outfit in advance so that you do not end up overspending on clothing items.
4. Be Creative – Make home-made gifts and sweets
- Be creative and limit expectations when it comes to Easter presents.
- Use odds and ends that you would usually throw away to create gifts.
- Left over paper towel tubes and colour paints are a great way for your children to create Easter bunnies which they are likely to play with for hours on end.
- Create fun Easter baskets using old newspapers which you can paint and decorate rather than purchasing expensive ready-made baskets at the store.
- Unused wrapping paper is perfect for home decorations. Easter decorations are used for one day so it would be best to not throw away your decorations and use it the following year.
- Home-made chocolates and sweets which are easy to make can be a good opportunity to get the family involved.
- When it comes to Easter dishes search for creative recipes/ methods that you can use within your household that are used on a weekly basis, and make a list of items that are required and only purchase those items.
Enjoy Easter within your means. Avoid purchases and gifts which you cannot afford and spare yourself having unnecessary debts to repay after the holidays.