Are you a salaried worker or someone working on a fixed income? Then you may be part of the train of workers across the world who often see the new year's month of January as a marathon to run.
Here in Ghana, many workers have complained about how long the month of January is and how much of pauper they have become considering the spending spree they engaged in during the Christmas season.
Let's not get it twisted! Christmas is a season of love and sharing. This season is the ripe moment when families get together at parties and picnics to catch up on lost time in the cause of the fast-dying year.
But there are some best financial tips that will aid us still have monies in our pocket no matter the pressure from Christmas.
1. Save throughout November to December 20
Between now and Christmas comes the opportunity to save some little cash so that you don't need to cash out your salary for a party. Saving is the best culture to ensuring financial freedom and this could just work considering the economic climate in Ghana.
2. Invest in Treasury Bills
Buying treasury bills is another surest way of gaining extra income ahead of Christmas. The investments attract interest so that instead of spending so much without reaping the benefits you could as well cash in on the intelligent move of attracting investments from your savings.
3. Planning on expenditure
Let's face it, most of us are addicts to compulsive buying especially at the malls and this urge strangely builds up during the Christmas season.The best way of not remaining victim to this trend is ensuring that you always go along with a strict list of all the things you wish to buy plus cash of the exact estimate of things you aim to purchase.
4. Choose Christmas indoors
Most of us often mistake Christmas as that season of parties and hangovers! This is never the case. Christmas can best be celebrated on the low side at home. This often reduces cost and helps us save some cash!
5. Invest fees of children ahead of time
Many couples surviving on disposable income often raise issues regarding their inability to pay the fees of their wards but this trend can be ended. This is through the habit of investing at least half of your ward's fees in a lucrative venture. This is so you can reap interests on these funds once you withdraw them in January!
So never be part of the masses who always see January as a cursed month. Remember that the way you financially plan towards Christmas will definitely reflect in the way you embrace January 2018.
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