The cold winter months can cause higher spending, from having to buy winter essentials like blankets and heaters, to a higher electricity bill. It really can get easier to spend more. However, there are ways that you can save money and stay on top of your finances this winter. Keep reading to learn how.
Adjust your finances for winter essentials
In a previous blog post, we shared 5 Things to Consider When Budget Planning, and when it comes to winter, you might find that your finances need to be adjusted slightly to include the essentials you will need during this season. Think about the extra electricity that is needed for your household, any heaters or warm clothing that may need to be bought as part of the essentials you need.
Use banking apps to monitor your spending
Mobile banking apps have budget planning tools that can help you stick to your adjusted budget and monitor your spending habits during winter (and beyond the season too). Make sure you track your spending, set money aside for saving (if you can), and constantly keep an eye on your finances.
Plan ahead for loadshedding
Load shedding can increase during the winter time, so plan ahead and be prepared with alternative power options like a generator, inverter or extra batteries. Use our FASTACard to help you purchase these alternative power options from online stores like Takealot.
Avoid unnecessary over-spending
With the colder weather, plenty of fashion retailers will have new, restocked winter fashion items to purchase, and restaurants will tempt you with mouthwatering winter menus. While there is no harm in treating yourself, make sure you don’t purchase any unnecessary clothing items or enjoy too many new winter meals out. This is about managing your finances and avoiding any unnecessary over-spending so your wallet doesn’t turn cold!
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