Just a reminder that Januworry is around the corner
Celebrate responsibly as you ring in the New Year this evening...
When the December holidays arrive each year, people are excited about seeing family, celebrating with their loved ones, and spoiling everyone.
But as the preparations close and the year wraps up, the harsh reality of January, aka The New Year, aka Januworry, creeps in and causes some anxiety.
This is why so many people in finance warn shoppers to avoid overspending during the festive season. Come January, the thoughts of 'back-to-school' shopping and other living expenses hit hard. Those who proceed with caution keep money aside for the harsh realities posed in January, but for those who don't, it's a real problem.
Watch the video below that got us thinking about the menu options for January for those who didn't budget well during the December holidays.
Video courtesy of Instagram.
Here are some tips on how to manage your Januworry if you didn't budget well during December.
- First, assess your obligations by writing down all your commitments.
- Check your bank balance and how much you have for your January expenses.
- Prioritise your spending; focus on expenses such as rent/mortgage, utilities, groceries, transport, and school essentials.
- Avoid takeout or dining out during this month. This is non-essential spending and should not take precedence.
- Cancel or pause subscriptions or memberships that are not mandatory.
- If you cannot make any payments, call and negotiate with service providers or create a payment plan option.
- To avoid this from happening again, plan out your monthly expenses for the rest of the year. If you are struggling with this, then seek advice from a financial expert.
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Image Courtesy of Instagram