Here are a few ‘unexpected’ expenses that tend to crop up every year (but we all somehow neglect to budget for):
If you have children in your home, they must be about ready to lose their marbles; school’s almost out! While this is all good and well for youngsters under the age of 18, it can become a major headache for parents who still have to work deep into December. Remember to bear in mind that you might have to pay a sitter or arrange enrolment in a holiday programme to keep your kids safely occupied while you continue with work over the school holidays.
Way more food than usual
South Africans are very enthusiastic hosts and we all tend to welcome lots of friends and family into our homes over the holidays. Naturally, they often stay for lunch or dinner (or both!). This is why it’s prudent to set money aside for extra groceries over the festive season to ensure that your household budget does not run dry in the second week of merriment.
If you own a car, the holidays come with its own set of temptations. After all, when you’re on leave, sitting at home, it can be very tempting to jump in the car for a drive or two, or to make your way to the next town to visit some relatives. All this driving adds up in the long run and you may very well spend twice as much on fuel as you would ordinarily do.
Once the tinsel comes out, there will be little gift-giving moments that creep up on you unnoticed. Your kid’s Christmas recital for instance – it’s always nice to present their teacher with a small token of your appreciation. It’s also the time of year when homemakers give their domestic helpers and garden personnel a bonus to thank them for a hard year’s work, so be sure to factor that in if your household employs assistants like these.
There you have it – a few ‘unexpected’ expenses to bear in mind when you plan ahead for the festive season. If you factor these into your budget for December, January should feel a lot less worrying come 2020.
Keep an eye on the blog in the coming weeks and months for more expert insight into all things budget related. In the meantime, feel free to reach out to a member of our Libertine Consultants team to find out more our debt services and credit services. We are here to help you pave the way to a more prosperous future.