WITH JUST a week or two left of the holiday season, we can all be tempted to overspend on traveling, entertainment, luxury gifts for our loved ones, and indulging in non-essential goods. The festive season is about spending time and celebrating with friends and family-and the best thing you can do is spend within your means, and not spend a cent that you didn't budget for.
Once you understand that money is a tool for reaching your financial aspirations in life, you will start thinking about money differently. You will start realising that money is not to be wasted, and each purchasing decision made needs to be done in a cautious manner and accounted for.
Financial wellness starts with the recognition of the bad spending habits you have and replacing those bad habits with good spending or savings habits. For instance, instead of encouraging a friend or family member to pay for everyone's meal at a restaurant when travelling, you can split the bill evenly between everyone.
Financial wellness has more to do with effective budgeting than people think. Managing your finances starts with tracking your spending. You should also aim to save three to six months' worth of expenses, so that you don't need to go into debt when emergencies arise.
Diese Geschichte stammt aus der January 2023-Ausgabe von Personal Finance.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January 2023-Ausgabe von Personal Finance.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Accounting tips for small businesses
It's important to properly manage your business finances
KIDS AND MONEY: FIVE WAYS TO START THE CONVERSATION
WHEN IT comes to teaching young children about the world, parents may feel that some topics—like politics and religion—are too tough to broach.
THE RISKS INVOLVED IN INVESTING
Finding the balance between eating well and sleeping well
TESLA: WHY IT MIGHT BE TIME FOR MUSK TO GO
What 2023 holds for the electric vehicle company
FINDING SOMEONE TO STEP INTO YOUR SHOES
The Eskom crisis demonstrates again the importance of proper succession planning—loDSA
WHERE NEXT FOR THE GLOBAL ECONOMY?
Why central banks face an epic battle against inflation in 2023
Back to Basics in 2023
Need-to-know basics to build your wealth
'I thought crypto exchanges were safe'
The lesson in FTX’s collapse
MAXIMISING INTEREST RETURNS
Navigating the trade-off between liquidity and return
BE A 'BRIGHT SPARK' WHEN USING ELECTRICITY
Saving energy helps relieve the strain on the planet … and your wallet