Stretching your money until the end of January can be difficult, but it’s not impossible. With a few actionable tools at your disposal, you can make the most of your December income by making it last through the festive season and the first month of the year.

Pay All Your Bills Upfront

To start with, you need to pay your bills before you start spending on yourself. Get the rent or bond payment out of the way, along with your water, rates and electricity bills, mobile phone, insurance etc. If they are deducted by debit order, calculate how much you need to cover those costs and put it in a savings account that you won’t touch.

Categorise Your Expenditure

Once you know how much money you have left to spend over the December and January period, you can categorise it into spending pockets:

• Work out a weekly food budget. Plan your meals for additional cost-saving and try to avoid eating out where possible
• Work out how much you will need for petrol or transport on a weekly basis. Share lifts with friends and try use a designated driver instead of costly taxi or Uber fares
• Calculate your weekly entertainment budget. Factor in entrance fees and drinks or food, and make use of specials or happy hour where possible
• Calculate any other New Year expenses that will be required on a weekly basis

By adding up all these weekly amounts, you will arrive at a budget or allowance for each week. Make sure you don’t spend more than your weekly allowance, or you will fall short the following week. If you have a big event that was not budgeted for, be prepared to take budget from the following week to cover costs.

Unplug Appliances That Aren’t Being Used

If you are going away, empty your fridge and freezer and turn them off as they use a lot of electricity unnecessarily. Unplug all other major appliances when you’re not using them – dishwasher, washing machine, tumble dryer. Turn off your geyser or put it on a timer for when you need hot water. This requires a lot of electricity to stay warm, which is unnecessary for most of the day.

If you have a swimming pool, put the motor on a timer so that it is not running all day and night. Unplug TVs, decoders, Wi-Fi, toasters, kettles and anything that relies on power to work and only plug them in when you need them. Each small action will noticeably reduce your electricity bill and help you make your money go further.

Go Through Your Cupboards

See anything you don’t use anymore? Sell it on Facebook Marketplace. Get rid of unnecessary items or clothing and give your home a spring clean at the same time. You will be surprised at how much extra cash you can make by selling unused items. Facebook Marketplace also geo-targets your location so you will only find customers in your nearby vicinity.

Offer To Walk People’s Dogs

Dog-walking is also a sought-after service and can be offered to people in your community. Most dogs need to be walked daily. Not only is it a great way to make money, but it’s also an excellent way to stay fit. You could fill each morning and evening with a few customers and make a decent amount of extra cash in the process.

Resources: https://www.busybudgeter.com/; https://www.iol.co.za/

Photo by Michael Longmire on Unsplash