December is the time of the year where more money is spent. Thousands of people, over the world, buy presents, food and clothes for the holidays, other prefer to travel. Some ask for loans, use their credit cards or spend the only cash they have without taking into account that the following month they will not have enough capital to cover all their home expenses.
Below we list five tips so that you can get over the crisis of the beginning of the year:
- Take advantage of the January Sales: It is common that the stores and supermarkets have big sales in January. You can benefit and buy your needs at this time of the year and that way, you will be able to save a percentage of money and invest it in another need that you may have in your home. Remember that if you are going to buy something it must be a real necessity.
- Organize Your Finances: Any time of the year is as good as any other to set up some time to organize your financial life. Why not taking advantage of a new year to write an annual budget or consolidate your debts or establish a savings plans or maybe save 1 thousand dollars ? The sky is the limit !
- Avoid visiting restaurants during January: Going to restaurants in January will increase your expenses. Instead, you can get groceries and cook them at home. That way, you will save money and you and your family can eat healthily as well.
- Reduce your Entertainment plans: If you usually go to the movies, parks, shows, sports events or any type of entertainment, you can sacrifice yourself in January and avoid doing so, since this type of activities will increase your expenses. Remember that you already spent a lot of money in said activities in December and you need to recover your home´s economy.
- Benefit from coupons: If you definitively have the habit of eating out, collect the greatest amount of discount coupons and buy your food only in these places. This will allow you to keep your habit at a lesser cost.
For the following year, it is important that you establish a budget and establish as well which are the expenses you can have in December, that way you will not have to worry in January for the lack of money.
You can start the year with a directed part of your savings to cover the expenses that you will have at the end of the year; that way you will have eleven months to save and then only spend in the holidays, what you intended for such objective. You can also buy, in the course of the year, the Christmas gifts, any time you see an offer or when you consider it is a good bargain and have the money. Remember that in December things are more expensive. That way you can buy them and keep them until the end of the year. You can start a worry-.free year depending on your financial organization.
