6 Perfect Ways To Avoid Being Broke In January

Tomorrow being the first day of December means the start of the festive season is upon us and people have been paid or about to be paid for November. This is a time when everyone spends money. Be it on travel to upcountry, holidays, going out with your friends or whatever your holiday plans are.
However, it is important to remember that right after December there is January which is commonly referred to as njaanuary. This is because almost everyone is paid early in December and they end up using this money during the holidays.

So How Do You Go About Ensuring You Are Not Really Broke In January?

1. Set your spend limit
Planning is an important element when it comes to saving money. Since you cannot avoid spending money during this time because of gifts you have to buy or travel expenses, you need to set a limit on how much you can spend over the holidays.
This requires discipline in order to ensure that you do not exceed the amount you had set aside.
2. Avoid taking loans
Most institutions take advantage of the holiday season to offer small short term loans as well as holiday packages. This is not necessarily such a good thing considering you will have more to pay back come next year. During this festive season you should avoid taking loans so that you don’t have any debts come January.
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3. Don’t spend more than you earn
Most people make the mistake of spending money they do not have. We are all victims when it comes to spending more than you earn.
For example why do you need to stay in a to bedroom apartment where you have to pay 30K per month in rent yet your salary is 25K?
This means that you will always be in debt. Borrowing form one friend to pay another friend.
There is no point in trying to keep up a lifestyle you cannot afford. Do not borrow money to spend on things that will not provide you with income.
You will be better off in January if you do not have any pending debts to pay.
5. Use your talents to explore opportunities
Everyone has a talent if you have discovered your, the better. You need to figure out what you are good at and how you can use that to earn money.
Take for example; if you are a good DJ, even if you have formal employment, you can play gigs on weekend to earn extra money. As a baker you can start selling what you bake you never know you might just be the next Alice Simba founder of BlackForest House.
You can use this ti earn extra cash that you can spend over the holiday season as opposed to using your salary and being broke in January.
6. Plan Ahead
You need to remember that you still have bills to pay come January. It is therefore important to ensure that you plan your money in a way that ensures you have enough cash to spend on your bills in January.
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Keep in mind that your financial habits during this festive season will determine whether you go through January broke or not. It is therefore paramount that you make smart financial decisions to ensure you don go through January complaining about your lack of money.