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By Dr Pushpa Wood
Now that Christmas is a distant memory, the credit card statements and other bills are starting to make their way into your inbox or letter box and reality is starting to hit. You may not want to admit it, but you may have been caught up in the fever of Boxing Day and other sales and, before you know it, you’ve spent more than you intended to. Sound familiar? You are not alone. It happens to most of us at some time in our lives.
The question is, what do you do now?
On one hand you still want to enjoy life and prefer not to tighten the belt (or wallet if you prefer), but at the same time you also want be able sleep peacefully and not worry about your bills!
So, if you do find yourself in this predicament, I suggest you remind yourself of an old saying: “Keep calm and carry on.” Take it from me, it does work. So let us put it into practice.
Keep calm – getting unnecessarily stressed or shouting at others, blaming others for your financial woes is not going to achieve anything. They will still be there in the morning, waiting for you!
Set up your Christmas 2019 savings account. Start putting some money into that account regularly. It doesn’t have to be large amount – even $2 or $5 a week at the start will help. Once you have paid off your 2018 Christmas bills, you can start focussing on saving for Christmas 2019.
Dr Pushpa Wood is the director of the Westpac Massey Fin-Ed Centre (Financial Education and Research Centre).
Created: 29/01/2019 | Last updated: 29/01/2019
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