While it does feel great this time of the year. With so much buzz around with everyone running around to get Christmas gifts, finalise holiday preparations or stock up to entertain and feed visitors. I feel we should remember our situation here in
So what I think we should do is first think of our January 2008 commitments before we spend the little we have. Ensure we have enough money to meet those much needed expenses like school fees, groceries, etc. Then let us think about the saving.
Let us look at saving in two ways. (1) Being how much of that bonus you can invest and (2) being actually paying more than you need to for your current debt since you would be saving on interest. This of the second as a future saving or a cash flow management strategy since you may even reduce your monthly payments in some cases.
And worse if you do not have cash try not to give into those “buy now pay later” schemes if you can. Remember a bargain is no bargain if you do not have the money for it, even worse when you won’t be able to meet the repayments next year.
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