DON'T GO BROKE BEFORE JANUARY PAYDAY
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source January is few days away and it's believed to be the longest month in the year. Many people believe January is long due to the fact that December salary are paid early in December and due to the spending that comes with the festive period, there may be little or nothing left to cater for January needs. So, the long wait for January's salary to be paid makes it look like a long time. The festive season is what we all look forward to from the start of the year to enjoy with friends and family which comes with some financial responsibilities.
It is important not to spend without proper account for what you are spending on in the last few days in December and as a new year starts. After spending a whole lot during the Christmas celebration, you may want to be cautious in how you celebrate the new year so that you still have some money on you as well as for savings. There's a need to cut cost as much as possible in order not to get broke.
source Do you want to avoid going broke in January? Here are some helpful ways to reduce cost in the first month of the year and beyond.
- Create a new budget that will include only important things and ensure that you follow through with it. Starting the year with a fresh budget helps you to control your spending by eliminating the unimportant things that you may be tempted to spend on. Be sure that the budget is realistic and easy to follow.
source - Business wants to start making huge sales as fast as possible in the year and they may may entice you with promo sales. Promo sales are quite enticing and will make you spend all your money even before you know it. You may be tempted to buy the things that you do not need just because you feel the prices are low.
- Just like December, most artists and comedians will be having their shows and concerts in January and it is a very good time to spend more. You don't have to be in attendance in all parties or shows in January. If you feel like hanging out with your friends, there are places where you can have fun for as low as free. You'd be saving more money when you cut down on your outings.
source - It is more economical to eat homemade meals, so try to cut down on the amount you spend on food by trying to cook your meals. Eating out is expensive and it will make your expenses increase in January. Cooking at home will take your time but save you money.
- Don't ruin your income and savings for the year with the wrong decision you make in the first month of the year. Buying on credit could disrupt your flow of income because you have to remove the debt (in your mind) even before your income is paid. Most times when we see fancy items we'd like to buy, we pick them and plan to pay later, you may live on debt throughout the year if you are not careful enough. If you make buying on credit an habit, it may be difficult for you to ditch the habit.
