Festive season spending: How to plan so you can avoid the Janu-worry blues

If you're taking a break over the festive season, it's wonderful looking forward to gathering with friends and family, giving and receiving gifts, and generally having some end-of-year fun.

At the back of your mind, though, is probably the dawning of Janu-Worry when the holidays are over.

Personal financial adviser Warren Ingram emphasises that preparing for this expensive time can prevent a bad start to the New Year.

It starts with the basics of drawing up a gift list and, importantly, setting a spending limit for each recipient.

"If we leave these things to the last second... we can build up this pressure on ourselves and buy, buy, buy."

"Then before we know it, we've overspent on gifts before we've even got to meals and entertainment and all those other things."

Warren Ingram, Executive Director - Galileo Capital

In the case of large gatherings where you feel pressured to give gifts to everybody, he suggests speaking to the others ahead of time and suggesting you skip the gifts - 'just get the very young kids something, but stick to X rand'.

Ingram shares practical tips to help you enjoy the festive season without dreading the New Year:

1. Create a Gift List

Gift-giving is one of the most significant holiday expenses. To manage this, write down everyone you plan to buy for and assign a spending limit for each person.

Consider alternative gifts - Handmade items or experiences (like tickets to an event) can be more meaningful and often more affordable than traditional gifts.

2. Plan your meals

Food costs can escalate quickly during the festive season. To keep these expenses in check, plan your meals. Create a menu that focuses on seasonal ingredients rather than the traditional, more expensive meals.

Consider potluck gatherings: Encourage guests to bring dishes, which reduces costs and adds variety to your meals. Bring and braai is a great way to save money.

3. Embrace local activities

Instead of splurging on expensive events, look for community markets, festivals, or concerts that offer festive entertainment without the hefty price tag.

4. Monitor your spending

As you shop and celebrate, track your expenses regularly. Use budgeting apps or spreadsheets to monitor how much you’ve spent compared to your budget.

Avoid impulse purchases: Stick to your shopping list and take breaks if you feel tempted to buy unnecessary items.

Finally, take time to reflect on what really matters, Ingram suggests.

What do the holidays mean to you and your loved ones?

Focus on quality time rather than extravagant spending, which could well result in more joy and connection.

Scroll up to the audio player to listen to Ingram's detailed advice