Spend wisely; the New Year awaits

During this period we often get in to the habit of ignoring the looming financial responsibilities, such as school fees, food and other bills that may come in the New Year, distracted by the more short-term excitement of Christmas shopping and holiday travels. Hard as it may seem, though, the best gift to give our families and ourselves this festive season is to make good financial decisions, and we have the power to do just that.

In order to start the New Year in a financially stable position, one must be aware of how they spend their money during this period. Indeed, it is crucial to budget and save for the New Year, allowing for both the expenses and necessities as well as catering for some New Year unexpected costs and “treats.” Paramount is to ensure avoidance of falling into a debt trap.