January follows December like night follows day, and yet we are so often caught with our finances in a mess when the New Year party is over. Let’s all do things differently in January 2024.
In South Africa, we often talk about Januworry as if it cannot be avoided. At Bayport we believe differently, hence we asked some of our team members to share what they do to keep December spending under control so that January can be a month of new beginnings instead of old worries.
- I transfer my additional salary to my savings account so I can move it back into my account when I need to pay my bills. (Michelle)
- I always withdraw my December salary around the 24th and the remainder in January the day before the school opens. (Sizakele)
- Been saving monthly to spend on groceries for December. (Lucy)
- My plan is to spend more time at work and take leave after the festive season so that I spend less. (Grace)
- My plan to avoid over-spending in December is to treat December like each and every other month by still sticking to my budget. It is not a must for me to spend on the festive season. I can choose to celebrate it whichever way I want to celebrate it. What I’m also doing is buying school clothes and stationery bit by bit for my daughter as she starts school next year. January is often not a good month so am using that opportunity now in order to plan ahead. (Zanele)
- I am going to draw up a budget for both December and January. I will be disciplined and committed to save where I can and avoid unnecessary expenditure. (Irashnie)
- I am not going to take leave during the period, this will eliminate late night socialising and having to spend more. (Lorraine)
- I have taken all necessary measures for January like saving the whole year so that I can use my savings in January. (Charmaine)
- I have already planned and sorted the issue of December. To prepare for January, I am intending to put more into my credit cards as a way of saving. (Mpho)
- I have joined stokvels so I won’t have any issues thus far. I think I will manage December till January when we get paid as I won’t spend a lot from my salary. (Dimakatso)
- I started saving for December during the year. (Vinolia)
- My plan is to save while its early so that when January comes, I don’t have to struggle with taxi fare to make it to work weekly. (Mano)
- I already have my Dec-Jan budget plan in place. (Linda)
As you can see, there is nothing magical about a worry-free January. It comes down to planning and saving during the year, and to keep January in mind as the festive season approaches. Several of our Bayporteers also know what their weaknesses are, and have decided to rather work in December so that they have fewer opportunities to spend.
These are all great tips. Why not see which of them can work for you?
