Durban - A long weekend is something people look forward to because of the prospect of more leisure time.
With the excitement of an extra day to unwind, and the silly season upon us, people may start to splurge money, in many cases money they don’t have.
Here’s how you can avoid getting caught up in the urge to splurge:
Budget
Look at your monthly budget to see if you have any money that can be used for the long weekend. If you have the money in budget, create a separate mini-budget for the money that you have allocated for your long weekend.
Be motivated and disciplined to stick to your money budget to stop yourself from overspending.
Prioritise
It is important that you keep in mind the differences between needs and wants. Before making any purchase, think carefully if the item is a want or a need.
You should also prioritise your spending for the day. Instead of buying coffee in the morning and getting takeaways for dinner on the same day, you can save that money and celebrate the end of the long weekend by going for a fancy dinner.
Cash versus card
You need to remember that if you can’t pay for something with cash then you can’t afford it.
You should only use your credit card for emergencies and pay for items with cash or debit card. By doing this you are living within your means and not getting into unnecessary debt.
IOL Business