In a few weeks it will be 2015. It seems that it was not so long ago we were on the verge of welcoming 2014.
In fact, the time spent shopping goes really fast but when the bills arrive in the new year, the time slows to a crawl.
The bills in January are doubly hard since there no bonuses to look forward to or any other relief from the incessant financial pressure.
Some schools collect fees on a termly basis, so that is an additional burden during the early part of the year. If you bought anything on credit, likely you will now have to begin paying your first installments.
How to be Debt Free!
There are a few things that can be done to help consumers remain debt free for the new year.
Do not buy things you do not need, just because they are on sale.
I have seen persons jump at buying things that were on sale only to realize that they have no real need for the item.
It is a trap that sometimes I find myself caught in as it seems like a mistake to pass up a good deal
Sell items you do not need for extra funds.
This time of the year everyone does spring cleaning.
So why not look through the items you have and while you can donate some of them there might be some items in very good condition that you can sell. Garage sales while not as popular in Jamaica can still make a profit if organized properly.
Pay more than the minimum amount owed on credit cards.
Instead of just paying the minimum amount, consumers should endeavour to have a good credit history and eliminate any charges or fees.
Make a list of expenses and the dates they are due.
Although some persons might have a budget, it can also be beneficial to have a list of expenses along with the dates they are due. This will help to reduce the stress of trying to find a lot of money at once!
The most important thing is to keep your expenses down during the holidays. Wise spending is critical to enjoying your new year!
What’s your take? Let me hear from you!
Teri Ann Renee Paisley
Gleaner online writer