'Budgeting may be tedious but it has its benefits'
While enjoying the month of December and splurging on Christmas gifts and food, its easy to forget about checking bank balances and budgets.
JOHANNESBURG - Now that the holidays are fast approaching its end many people may be worried about finances for the rest of January.
While enjoying the month of December and splurging on Christmas gifts and food, its easy to forget about checking bank balances and budgets.
Financial planner, Gareth Collier advises that one should remain realistic when spending.
"You know we’re kind of programmed unconsciously to be consumers and therefore when we get this lumpsum it's easier to think about the here and the now than it is to think about the future and when we are used to living on a monthly salary or a weekly income. A monthly lumpsum we tend to have a very distorted perspective on how much that really is."
Collier said that while it may be tedious budgeting does have its benefits.
"Budgeting, certainly works. You know this time of the year, the best way to be prepared for it is to prepare now for this time next year."