Like most employed people, in December, we received our monthly salary a little earlier than usual. This early payday may have tempted some of us to splurge on ourselves, family and friends (especially the significant other) as we got caught up in the festive season. Now that the season is over and the euphoric feelings are gone, we are hit with the reality that the next payday is not until the end of January and we’re broke….
In light of this reality, here are five pointers on how to manage the remainder of the month until the January payday:
Make sure all bills are paid off.
This should have been done before the splurge and will keep you in good standing with your service providers. In the case where you haven’t paid all bills, you have no choice but to pay the incurred charges and a higher bill when the bill comes around. It would also be wise to make arrangements with your service providers in order to prevent disconnection during the month.
Minimize expenses as much as possible.
Meaning no partying, no “turning up” as well as no going out with friends for a “few drinks”. You did all of that last month, so what if you dropped off the social radar for a bit? All expenses should be necessary and essential from this point onward.
Use savings or credit to get through the month.
If you’re fortunate enough to have a little savings, more than likely you’re gonna have to dip into it in order to get through the month, albeit SPARINGLY. After all, savings are for investments to be made right? If your credit card balance is in a good financial state, you can also use it as SPARINGLY as possible and be sure to pay the bill in full at the end of the month.
Share the load
You are not the only one facing this problem. Your friends and family may be going through this as well, so it would be best if you all collectively team up and help each other through the month. This could take the form of carpooling, buying groceries in bulk and generally sharing expenses so as to make the load lighter. This move also serves to strengthen relationships and creates better understanding among friends and family.
It’s a New Year! You lived to see another day and each day brings it’s own opportunity to improve and get it right. Try not to worry about the problems being faced but instead focus on ways to put that pay cheque to good use! Make this year better than the last and work towards making it so!
Hopefully, these pointers will help you to successfully get through the month until payday as well as shed some positive light on a dark situation.