HOW TO SPEND WISELY

BE THRIFTY IN YOUR GIVING

HOW DO you save on gifts?

◆ Ask people what they would like so you don’t waste money on something that will not be appreciated. For family, negotiate on bigger gifts by giving jointly for the festive season as well as a birthday.

◆ Look for discounts on bulk items that can be split and repackaged for individuals. “Three for the price of two” discounts are common leading up to the festive season. Big bags of sweets or biscuits or soaps can be repackaged to become individual gifts in new baskets or glass bottles, also bought in bulk.

◆ For teachers’ gifts, ask around and club together to buy a voucher. Teachers love it as they can choose what they want.

◆ Buy presents during the year at sales.

How can you ensure that sales before Christmas don’t put you into debt?

◆ Keep your budget in mind.

◆ Know that the price as a discount is not always a bargain (check around).

◆ Use a list to keep your spending in check. Don’t look around aimlessly, as you might be tempted to buy something you don’t need.

◆ Keep the interest on your credit card in mind, as the discount might not be as good as you think when you have to buy on credit.

◆ If you are already in debt, stay away from the shops as much as possible.

| Rita Cool, a Certified Financial Planner at Alexander Forbes Financial Planning Consultants