There’s something about Christmas that makes most of us to spend, spend, spend! I have been buying gifts, clothes and food and finally I decided enough. I now leave my credit card at home and my clothing shop cards at home. If I see something that I really like then I will have to go back the next day to buy it. So far, I haven’t had to go back for anything. And oh, on my last shopping spree, I decided to ask Truworths to reduce my buying limit right there in the shop. The poor guy didn’t believe it and I insisted he does it. I’m very happy for having done that because now I no longer have any credit available to buy. After all I really don’t need R8000 clothing limit. I will be visiting Edgars soon to reduce my buying limit too.

Have you seen those ads on TV buy now and pay in March 2011? There’s a few going around where you can buy a lounge suite now and only start paying next year. To make it even easier for you, you don’t have to apply for credit, it is pre-arranged for you. Watch out, 2011 is just around the corner. There will be school fees, uniforms, etc… to buy just 6 weeks away from now.

That said; do spoil yourself a little bit. After all, Christmas only comes once a year. Just remember to have a “spoil myself budget” so you don’t overdo it.

My 2011 wish for you

• You will use your bonus to clear your excessive bad debts, if you have too much bad debt
• You will put money aside for a deposit to buy your own home, if you don’t have one already
• You will increase your debit order amount towards your home loan so that you pay off your loan much sooner than the 20 years given to you. I guarantee you; you can pay off that home in 8 years if you put your mind to it!
• You will get a Fundisa to secure the university education of your children

Enjoy your Christmas and wishing you a prosperous 2011

Article written by Phumelele Ndumo; author of the book, 7 Secrets why the rich own their homes and founding MD of ThuthukaSA. Remember to visit our website www.thuthuka-sa.co.za for more money tips.