Posts Tagged ‘frugal’

The Humble Envelope – Your Ideal Budget Buddy

When it comes to budgeting, a lot of people tend to either freeze at the idea, or turn and run like hell, because it seems like an overwhelming task.

Relax, it actually isn’t. In fact, compiling a budget is actually a lot easier than you realise, and will make your life a lot easier and a lot less stressful as well.

It will be far easier to see where you may be going wrong once you have everything down on paper and staring right back up at you. You will go from a case of, “It can’t be that much that I spend on take aways” to, “We spent HOW much on take aways??????” Once everything is down on paper, it’s far more difficult to ignore the financial freefalls that have been draining your cash faster than you can zip your wallet closed.

You may be wondering by now, where the envelopes come into the whole budgeting process. Everything will be explained as we go along. Promise.

First things first though. When you take that important step to compile a budget, you will need to know exactly what your income is for the month (or week, depending on how you are paid, of course). This may include a spouses income, as well as rental income from an additional property etc.

Start by taking a sheet of paper (or 2, depending on how large your budget is going to need to be). At the top of the first sheet, list all of your incoming finances.

Once that is done, you will need to then start listing every single expense that you have for the month/week. A typical budget would generally include things like rent (or mortgage payment), gas/fuel, phone bill, medical plan, school fees, groceries, utilities, internet fees, magazine subscriptions, an entertainment allowance, as well as any other expenses that recur each month.

Starting with your income amount on top, list each expense below this, and subtract each amount from your income amount, until you have listed all of your expenses. If you are still in the green after this exercise, well done! Most people end up going into the red before they are finished.

This is where your envelopes will start to play their part. They are normally used for the ongoing expenses that need to be met during the month, such as gas and groceries.

Sure, you budget an amount each month for these two important items, but many times, after the first two-week, you may find that your budget for those areas has run dry. This will be where your envelopes come into play.

Set aside an envelope for each week of the month. Take the money that you have set aside in your budget for groceries, and divide it up evenly as per the amount of weeks in the month. You can also do the same for gas, or any other expenses that recur on a weekly basis.

A fair bit of self-discipline will be needed here though, to prevent yourself from simply ‘borrowing’ from the following week’s budget., as this will defeat the purpose of this exercise.

Once the money in each  envelope is finished, then you have nothing left for the rest of the week, until the following week rolls around. It does take some getting used to at first, and you may find that you run out of cash. But I can promise you, that in most cases, there are truly very few items that you will die without having until the following week (emergency medication and things like baby food are obvious exceptions).

After a few weeks have gone by, you will get used to the system, and you may even find yourself with a few pennies or even a dollar or two left over from the budget. Congratulate yourself.

The fun doesn’t necessarily have to stop here though. Bring another envelope into the game, and label it ‘extras’ or ‘overs.’ Should there be anything left from the previous week, put it into this one. You will be surprised at how fast it adds up. These ‘overs’ or ‘extras’ can then be put into a savings account once a month, or they can even simply be set aside to do something fun with. There is no end to the possibilities which this can be used for. Should you wish, you could also use is as an additional debt repayment, or even add it to your initial mortgage repayment.

I am making use of this system ,and it is working very well for me, so I am sure that it will also work very well for many of you out there who need a little help along the way with learning how to budget, and how to spend wisely during the month on essential items.

Comments, ideas or suggestions? Feel free to post them below.

Want it now? Be prepared to pay twice

“Special Offer!! Prices never to be repeated!!” “Buy now, and pay over 36 months.”

One of the oldest marketing ploys in the book, yet so many people still seem to fall for it hook, line and sinker.  It’s amazing how signage like that in a store window can cause people to behave like frenzied squirrels on an acid trip.

Often, people will tell themselves, “I will only buy what is on special,” but we all know that we will end up leaving the store with so many other extra items, simply because they were advertised as being “on special” – nevermind whether they were needed or not. The marketing monster manages to dig its claws into almost every single one of us. Because, at the end of the day, many of the so-called “items on special” actually really aren’t that cheap anyway.

 The flip side of the situation is that a lot most of the items advertised as being “on special” are actually absolutely non-essential luxury items. I mean, think back. When last were basic foodstuffs advertised “on special”? Or gas for that matter? Nooooo….99.99% of the time, it will be frivolous luxury items that will supposedly be “marked down” in order to sell them.

Hire purchase makes things so easy these days. But, at the end of the day, you could will end up paying double, or even more than double, for the item that you have purchased. One example I saw in a local store catalogue this morning was a classic example of this.

According to the New Credit Act in South Africa, it is mandatory to list the payment terms, amount per month which will be repaid, and the total amount that you will end up paying for the item at the end of the payment term. Almost every single item listed, would require you to repay double the purchase price for the item. Definitely not a wise way to purchase anything!

It’s pretty much like a 2 for 1 offer that you often see, but the only difference here is that you are paying for 2 items, but only receiving 1. If that had to happen at the checkout, I’m sure you would kick up a fuss. So why should it be acceptable to do that at any other time? I for one, do not see the logic in paying for 2 items and only receiving one. Sounds like daylight robbery to me.

Next time you see a “Never to be repeated” offer screaming at you from a store window, do yourself (as well as your budget and bank balance) a favour, and walk away. Do not give in to the voices in your head telling you that you “need” the item that is on special. Back away slowly, or better still, take off at a sprint.

Need vs want – teaching frugality from a young age

“Mommy, I need a chocolate,” or “Mom, I really need those brand-name sneakers and jeans” or “Honey, we need a new car. This one’s so outdated and old.” So often, I have heard those words while traipsing through the stores.

It seems like many folks have forgotten what truly constitutes a need these days. The true definition of a need is: something that you cannot survive without, such as food, water and shelter.

Yes, clothing is a need in today’s world, but brand-name clothing that will cost you a months’ mortgage payment, is definitely not a need. Speaking from personal experience, I have often found the quality of generic, or non-branded items just as good, and in a few instances, even better than their branded counterparts.

Our children are learning from us. They learn far more from our actions and words than we can begin to imagine. When they hear us saying things like, “Honey, we need a new car,” or “Love, I need new curtains for the living room,” they perceive it as a true need, rather than the want that it really is.

Truthfully, nobody really needs  a new car. In many instances, we buy a new car, simply because someone we know has recently purchased one, or because we couldn’t be bothered to do comparison shopping and buy a gently used vehicle, which is still in excellent condition. I have never yet owned a new vehicle, and do not ever plan to. Simply because of the fact that you lose far too much of the purchase price when driven out of the showroom or off the lot.

Food is a need as well. Dining out, and take out is not a need though. Most times, we choose to dine out or order pizza simply because it is more convenient than taking the time to lift our posterior from the couch, and prepare something ourselves. Fair enough though, there are many folk out there who work very long hours, and who do not have the energy to cook each night. But on the whole, it is simply sheer convenience that draws us to the take outs like bees to honey.

Your child is starting grade school. Yes, she will need school clothing, stationery, a backpack or trolley case, and books. But she certainly does not need a branded backpack, expensive clothing and overpriced branded stationery products (which are often misplaced or stolen anyway).

My niece started school today, which is what prompted me to post on this topic. After seeing the clothing and branded items that were bought for her, I was shocked. I, for one, know that many of these items could have been obtained a lot cheaper, simply by putting in a little effort and shopping around, instead of grabbing the first items off the shelf, simply because it was convenient, and could be charged to a store card.

Three examples that I noted, which almost made me tear my hair out, were a backpack, a pair of summer floppies/sandals, and a pair of jeans.

Branded backpack: $18 vs non branded, which would’ve cost $5.30.

Branded floppies/summer sandals: $7/pair vs non branded, which would’ve cost $2.

Branded jeans: $20/pair vs non branded, which would have cost $7.

Total of branded purchases: $45 vs the non-branded counterparts which would have come in at a mere fraction of the cost, at (insert drumroll here)…$14.30.

Her mommy could have saved $30.70, simply by shopping around, and not giving in to buying expensive branded items, simply for the sake of convenience, and the fact that all had been charged to a store card. Now, I don’t know about you, but $30.70 is definitely not an amount to be scoffed at, especially now that things are so expensive, and more and more folk are becoming aware of what they are spending their money on.

The sad part about this situation is that my nieces’ conception of need vs want will be totally incorrect by the time she becomes an adult. Now is the time to teach your children the true difference between needs and wants. Not when they are teenagers, because by then, it is difficult enough to convince them to roll out of bed and slouch their way to school, nevermind anything else!

Parents, choose your words very carefully, and think before speaking in front of your children, because you are the ones they will be learning from. Take the time to explain the concept of need vs want to them. Teach them about comparison shopping (note: you will have to take the time to engage in this activity yourself if you expect them to learn how to do it).

If there are nags and complaints about having to “make do” with non-branded items, that becomes an excellent time to start teaching them the value of money, and budgeting. Take them through the shops with you, and point out the difference in price between the non-branded, and branded items.

As a form of encouragement to teach them a little about frugality, give them a specific budget or allowance for clothing or whatever else they may need to purchase for the school year. Tell them that if they exceed it, they will need to make a plan to cover the shortfall themselves. But, this is where the fun comes in. Tell them that if they spend less than the budgeted amount, they can them keep the difference (or part of the difference – whichever suits your budget).

Another idea may be to put part of  the saved funds into a savings account for them, and have them add to it during the year, or add to it for birthdays or special occasions. The possibilities here are endless. The only ingredient required is a little creativity.

Parents, this lesson applies to you as well, not only to your children. Yes, a vehicle is a need. Tyres, gas, and services are essential. But a fancy stereo system and detailing, are not. A home is a need, but expensive furniture and fittings are not. You can get by on curtains purchased from a wholesale store, instead of calling in an interior decorator. Do you really need a fitted basement for entertainment? Whatever happened to the living room. There is inevitably a tv in there already, as well as a dvd player and cable connection. Sure, the tv may not be a 50 inch plasma, but again, that is not a need. That is purely a want.

Parents, be the example to your children that you expect them to become. If they see you practicing frugal habits, and comparison shopping, they will follow suit. But there is no way in hades that you can expect them to be frugal, and learn to save, if you are spending every penny you earn, and then some.

How have your spending habits changed since the onset of the recession? Feel free to reply, or leave a comment.

Small sneaky savings

People often hit a speed bump in the road when they realise that they need to start spending less, be it due to debt that has spiralled out of control, or worse, a job loss, resulting in loss of income. Changing one’s habits are seldom easy, but the results of changing them, can be very rewarding, especially for your wallet or savings account!

Along my frugal travels, I have come across, and implemented quite a few money saving tips. While none of them will make you a millionaire overnight, each one has the potential to assist you in paving the way to substantial savings. I’ve decided to share a few of them here, and while my list may not be completely comprehensive, I’m sure that there will be a few tips that you have not yet discovered for yourself.

Feel free to share your own money saving tips…

When purchasing cheese, grate the entire block before use:

It goes a lot further than if the block was simply sliced away.

Dilute dishwashing liquid:

Recommended ratio for dilution is 1 part dishwashing liquid to 1 part water. It will last a lot longer, is just as effective, and also makes for easier rinsing of dishes, so therefore a saving of water is achieved as well!

Use cereal or other sturdy cardboard boxes to line pet cages, and toilet paper as nesting material:

If your child has a hamster, guinea pig, mouse, bird, or gerbil, you can save a lot of money by asking your local supermarket or grocer for cardboard boxes to use as lining at the bottom of the pet cages, instead of using the expensive cage liners you purchase at the pet store. Simply measure the bottom tray of the cage, and cut the cardboard accordingly. It then becomes a custom fit to your cage as well, eliminating messy cage trays and leakages. Toilet paper can be torn into strips and used as nesting material, instead of saw shavings. From personal experience, the scented as well as the plain saw shavings can cause recurring sticky eye infections in your furry critters.

Plant prices driving you potty?

Instead of heading to your local nursery to purchase plants each season, speak to friends or neighbours, and see if they are perhaps able to spare cuttings or shoots from existing plants. Perhaps offer some of what you are growing in exchange for what they may have. This is a brilliant way to cultivate your garden at a fraction of the cost.

Breaking the bank with batteries?

If your electronic gizmos and gadgets are able to operate with rechargeable batteries, consider investing in a few sets, as well as a good quality charger. Yes, the initial outlay is more costly, but you will see substantial savings after just two or three uses. Understandably though, not all makes of cameras or gadgets operate properly on rechargeable units. Be sure to consult the user/instruction manual(s) beforehand.

Rent for once off usage:

Needing an expensive power tool for a DIY job around the house? Consider renting or borrowing one from a friend or neighbour instead of going out to buy one. It will simply end up causing the clutter in your garage or store room to breed.

Reuse and recycle:

Couch looking a little tired or worn in places? Don’t rush out to buy a new couch, simply because that’s what the neighbours did. Consider shopping around for a throw cover, or have it recovered. Either option is considerably cheaper. Your neighbours may have the new couch, but they also have the hefty debt bill to accompany it.

Plan errand trips in advance:

I’m sure many of us have heard this before, but if planned properly, a well organised errand trip will not only save you gas, but time as well – both are important and non-renewable resources!

Consider the fine art of regifting:

Received a gift that you know you will never use? Consider rewrapping it, and gifting it to someone else. But always make sure it doesn’t land in the hands of the original giver!

Scrutinise checkout till slips:

Always check till slips to make sure you have not been overcharged, or charged more than once for an item. Also be on the lookout regarding shops that offer items on special. Make sure that the markdown price is in fact reflected on the till slip.

Accumulate memories instead of possessions:

These are far more cost effective, and last forever.

Be content with what you have:

Have the neighbours bought a new vehicle, or computer? Chances are, they are deeper in debt that you will ever know about. So take a pass on buying something new if it is not needed, and enjoy the peace of mind that comes with being debt free.

Engage in the art of not spending:

Not only will your wallet love you for it, but so will your house, for not being cluttered with unnecessary possessions.

Consider subscriptions:

Do you often read a particular magazine or newspaper? Consider subscribing to it, and saving substantially on the newsstand price. On the other hand, if you find that you have countless subscriptions, and find that you aren’t using them, cancel them, and read the publications online whenever you have the time. The same can be said for gym or cable tv subscriptions. If it is not being used, lose it.

Wash your own car:

Yes, you read right. You drive it, so wash it yourself, dammit! Not only will you save money, but you will burn a good few excess calories at the same time.

You are who your friends are:

Friends can, and often do,  greatly influence our behaviour. Try to spend time with those who are as budget conservative as you are, and you will find that you will no longer need to spend money to impress anybody.

Try to avoid takeouts as much as possible:

Not only does it trim your budget substantially, but you will also see a sharp reduction in your waistline – without the need for diet gimmicks that needlessly fill our drug store shelves.

Research aftermarket and long term costs when looking to purchase a vehicle:

When buying a vehicle, you pay not only the purchase price, but also for gas and running costs such as tyres and replacement parts. No use having the fanciest vehicle in the neighbourhood if you can only afford to take the family for a push around the block in it once a month because the gas bill is eating more of your finances than your food bill for a family of five!

Early saving:

Yes, it’s the end of December, but now is the best time to open, or start, a Christmas savings account for next year. Use this to deposit spare change into each week, or even money saved at the grocery store from week to week. It all adds up surprisingly fast, and by halfway through the year, you should already have enough funds to start your festive season shopping, and be able to take advantage of sales that come up during the year.

Go digital:

Using a digital camera eliminates the need for printing photos. Mind you, a frugal gift idea is a printed photo in a frame – especially for the people in your life who already have every gadget under the sun!

Learn the forgotten art of mending clothing:

Missing a button, or stitching pulling loose on your favourite shirt or pants? Don’t toss it. Grab a needle and thread, and repair it. The cost of the time spent stitching and repairing the time, will by far outweigh the cost of buying a new item of clothing.

Paper compost:

Use shredded paper to bulk up your compost supply. Paper is made from trees afterall!

Use less toothpaste, shampoo and body wash:

These items foam for a reason. There is no need to fill your hand with shampoo, or spread toothpaste from one end of the brush to the other end. Most of it will end up going down the drain anyway.

Turn shampoo, sauce and lotion bottles upside down when they are running low:

This way, you will get a few more uses out of the product. Ensure that the bottle being inverted, seals properly first, to prevent waste and spillage.

Scrape those bottle insides until they scream:

Use a knife or spoon to scrape remaining spread, peanut butter or jam from a jar. You will often find that there is enough left in the jar or container to cover one or even two more sandwiches.

Save on air freshener during winter months:

Has someone given you a bottle of essential oil that you aren’t quite sure how to use? Take a few drops, and sprinkle on your central heating unit or space heater, to make the room smell wonderful, instead of spraying air fresheners. Far more environmentally friendly too – less propellants being expelled into the air!

Recycle food wrapping:

Plastic cling film and foil wrap can be washed and reused. No need to toss after one use.

Buy appropriately for your needs:

Looking to buy a replacement vehicle? A 4×4 or large SUV is absolutely unnecessary to use as a commuting vehicle. Not only are they extremely heavy on gas usage, but they also have a tendency to annoy fellow shoppers, because they often end up taking up more than one parking bay at the mall. So rather selfish on more than one count – they are also bad for the environment!

Buy specials in bulk:

One example here is cheese blocks. These can be frozen for later use. Take advantage when there are specials.

Batteries no longer running your mp3 player?

When the batteries in your mp3 player, or other high-powered device, seem to be dead, they actually still have a little use in them. Consider using them in battery powered clocks, or other items that do not require full strength batteries to operate.

Vending machine vendetta:

Avoid purchasing snacks and drinks from vending machines, as the prices are often inflated by as much as 35 to 40%, purely for convenience purposes.

Germy gym contracts:

Consider cancelling unused, or little-used gym contracts. Not only will your finances thank you, but you will find that if you are able to exercise outdoors,  you will be exposed to far less germs than you would be if you were cooped up in the sweaty gym environment. Speaking from experience here, while making regular use of the gym, I was making regular use of my doctors’ office as well, because it seemed like I was more prone to airborne germs, and sick a lot more with colds and flu. Since exercising outdoors (cycling and walking), I haven’t set foot in a doctors’ office.

Drive a little slower:

Not only will this save you gas, but it will also reduce your chances of receiving a speeding fine to zero! Pretty much a win-win situation if you ask me. Always running late and feel the need to speed? Shake that posterior end of yours and get out of bed a little earlier in the morning! Less speed = less stress = better day to be had by one and all! Again, pretty much a win-win situation all round.

Fruit juice causing yours or your children’s teeth to grow little furry jackets?

Add a little water to fruit juice drinks. Not only does this make them go further, but it also reduces calorie consumption, and tooth decay in children.

Growing pains:

Does it seem like just last week that you bought that expensive sweater for your child that he seems to have grown out of in his sleep? Shop around for childrens’ clothing and shoes, as there is no need for them to wear expensive items, because they will either grow out of them, or ruin them while playing. Far better to stain or damage a $3 t shirt and jeans than a $35 outfit that you bought, simply because it ‘looked cute.’ Young children will never know the difference between a Target t-shirt and a branded item.

Always pay up on time:

Forgotten to make that credit card payment and ended up paying a few days after the due date? Not only will this cost you heavy penalty fees and additional interest charges, but it can also negatively impact your credit rating. Always be sure to pay bills on, or before the due date if possible.

Freeware freebies:

Needing computer software, but balking at the cost? Often, there are freeware or open-source alternatives out there. The only cost involved is the time spent searching for it, and possibly the cost of downloading it if you are on a restricted usage plan. These will, however, far offset the cost of the software in question. One example is Gimp, which is a great freeware photo editing program, that has many of the same capabilities that Photoshop has, but without the hefty price tag. Please note that this does not apply to illegally downloading software, or using torrent or crack sites.

Avoid temptation:

It was once said that “The only thing I am not able to resist, is temptation.” Do not go mall-trawling if you know that you will be easily led to making unnecessary purchases.

Don’t only turn off, but unplug:

Studies have proved that appliances that are switched off, but  plugged into the outlet, still consume electricity. Unplug all electrical items/gadgets while they are not in use. This also applies to phone chargers, that are guilty of consuming up to 15% of their normal power usage by simply being plugged into the outlet!

Do you have any money-saving tips that you would like to add to the list?

Stupid Season Is Upon Us

A little satirical festive season humour..can be sung to the tune of ‘Deck the halls with holly’:

Storm the malls and load those trolleys,

Tra la la la la la la la la,

Tis the season to go moggy,

Tra la la la la la la la la la,

Down the aisles we barge in gaggles,

Tra la la la la la la la la,

Trawling through expensive gadgets,

Tra la la la la la la la la,

Seeing the ‘specials’ stacked before us,

Tra la la la la la la la la,

Fill that trolley, join the chaos,

Tra la la la la la la la la,

Max those cards for instant pleasure,

Tra la la la la la la la la,

Pay forever for these treasures,

Tra la la la la la la la la,

Credit limits see their asses,

Tra la la la la la la la la,

Watch the masses act like asses,

Tra la la la la la la la la,

Skip the payments on the mortgage,

Tra la la la la la la la la,

Heedless of the debt and wastage,

Tra la la la la la la la la…

Once again, it is that time of year again folks. The time where everyone appears to take leave of their senses and sensibility, in order to apparently ‘celebrate’ the festive season.

When one stops to think (heavens above, you mean to say that people actually still do that these days?) about it, how insane is it to rush around like a headless fruit maggot, shopping up, and spending a storm financially (even when many shoppers out there truly cannot afford to), to celebrate one day of the year? Many people punish themselves year after year by falling into the same spending trap, and then regretting it for the next 11 months…until the next round…

Another form of punishment can be summed up in one word…namely…tradition. What worse punishment can one inflict upon oneself, than to go through the same rituals year after year, all in the name of tradition? If there are certain family members who simply annoy the living hell out of you, then why in hell’s name invite them around again for another round? It is, after all, supposed to be a day for enjoyment and relaxation (although with all the pre season stress, shopping and gift wrapping, one would wonder just how much enjoyment we are actually able to derive from it??).

Gift buying is another stress factor for many reasons. Some people are as predictive as their gifts year after year, simply for the sake of giving a gift. For goodness sake, if you do not know what to give a person, rather come to a consensus early on in the month, by asking them outright if there is anything that they would prefer to receive. If it is not within your means financially, team up with a few friends or family members (those whom you do get along with), to pitch in towards the cost. Believe me, the person will rather receive one gift that they will truly enjoy or use, than 73 useless gifts that not even their great aunt twice removed would know what to do with.

That brings us to another part of the gift giving nightmare. Yes, for those of you as frugal as myself, you may already have guessed it – the cost of the stupid season.

How many people fall into the trap year after year, of spending money that is not their own to spend, to purchase gifts that the recipient will politely grin and bear face to face, but in private, would rather take along to their nearest pawn shop or Goodwill as soon as the opportunity arises?

Included in this post, are a few money (as well as sanity) saving ideas to make 1/365th of your life just that little bit easier to stomach for the other 364/365ths of the year.

1. This is probably the most important piece of sanity saving festive season advice you will read. For those who may be offended or peed off with it – tough – live with it! If you are using credit to finance your festive season, then you cannot afford it!! Only make purchases that you can honestly afford!! Do NOT use your credit card or store cards to finance one measly day of the year, especially when deep down, you KNOW that it will take you the rest of the year to pay for it all! (in some cases more like decades).

2. If possible, keep eyes open for festive specials or markdowns when it comes to gift buying. Often, the best specials can actually be had in January, after the stupid shoppers have stupidly spent all their (or their charge cards) money on ridiculously overpriced goods and commodities.

3. Make a list of those whom you intend purchasing gifts for, a month or two in advance, if possible. Keep it with you when doing your regular weekly/monthly shopping, in order to minimise last minute rush purchases that normally cost more than the national debt of a small country to finance.

4. To lighten the workload (and financial load), ask family members who are joining you on the day, to bring part of the meal along. That way, it is a far smaller chunk for each person to contribute, both time and money wise.

5. If possible, try to limit the consumption of sugar and preservative laden foods by children, to a minimum. As it is, this is normally a rather exciting day for them, often to the point of bordering on overwhelming, and an overdose of these two food items will merely add to the stress and exhaustion.

6. If possible, try to lay places at the lunch/dinner table the night before.

7. Do a little spring cleaning each day as the special day gets closer, instead of trying to do it all the day before. Pay attention to the most important tasks only. Do not stress about moving furniture to vacuum under it, as nobody will be inspecting under there anyway!

8. Try to finish gift shopping a week or two before the day, so that you have a few days to wrap gifts, rather than rushing like a deranged turkey the day before to get everything wrapped. Remember, perfection is not important, especially when wrapping children’s gifts, as the wrapping will definitely be ripped to shreds in the process.

9. Do not purchase expensive gifts for children under 10, as many times, they do not know or appreciate the value of it, and in the case of very young children, often the wrapping or box it comes in, provides far more entertainment than the gift itself.

10. If possible, explore the idea of home made gifts. A batch of cookies will often go down far better than a green and orange polka dot shirt that the receiver would never be seen wearing in public.

11. Old, but still good, advice. Try to limit decoration buying during November and December, as the prices are extremely inflated over this time. You will be surprised to see how many bargains you can find on decorations and gift wrapping in January. If possible, stock up then, which will in turn, eliminate some of the stress for the following year’s festive frivolities.

12. If you’re as frugal as me, and love finding ways to save your hard earned cash, you may want to explore alternatives to purchasing gift wrap. One example is using an item of new clothing to wrap smaller items in, and securing with a pretty bow, instead of killing trees..all in the name of the so called festive season.

13. After all of the unwrapping is done, be sure to go through the discarded gift wrap and salvage that which is not torn or damaged. Nothing wrong with saving it for next year. Besides, most people will have forgotten who purchased which gift wrap anyway!

14. Once the meal is finished, be sure to wrap and pack leftover food in the refrigerator to prevent wastage. Many times, we are definitely not in the mood to cook for a day or two after the festivities, and the leftovers will then come in very handy.

Last, but definitely not least, I know it has already been mentioned, but DO NOT PURCHASE WHAT YOU KNOW YOU CANNOT AFFORD, OR GO INTO DEBT TO ‘FINANCE’ THE FESTIVE SEASON!! At the end of the day, you are only fooling yourself, and hurting your finances in the long run.

How do you feel about spending money over the festive season? Do you think people go overboard? Post replies or comments.