Numerous variations of bingo have been trending on Instagram stories this year, like “apartment bingo” – with an assortment of must-haves for millennial’s apartments – and “indoor plant bingo”, because all the cool kids want to tick off that illusive pink-striped ficus.
Now, there’s budget bingo that can save you a few pretty pennies this festive season.
Share the game, devised by Sanlam, with your friends and family and start a challenge to see who can tick off all 25 ways to save the fastest.
There’s nothing like a little bit of friendly competition to get the DIY Christmas flair out in full force.
Andre Wentzel, solutions manager at Sanlam Personal Finance, says apart from playing budget bingo, the best overall way to save is to set a proper festive budget,
“It sounds obvious, but few people actually set a realistic budget before the holidays and then stick to it.
“Without giving this proper thought beforehand, costs can run away with you,” he says.
How much this budget should be depends on your income, your other financial obligations and importantly, your longer-term savings goals.
Mr Wentzel adds: “Any bonuses should ideally be invested directly into bonds or to settle debt because the long-term savings will far outstrip the short-term satisfaction of more festive season spend.”
Even if investing your bonus isn’t an option, at the very least, it would be wise to keep it for January, which is typically a very long and tough month financially.
Here are some simple ways to save over the holidays without compromising the festive cheer.
Ask people to bring a plate of food for a shared Christmas feast.
Do a secret Santa gift exchange and set a realistic spend limit.
Give homemade gifts like freshly baked cookies.
For young children, source toys from cost-effective stores.
Make your own (cheap) crackers.
Stick to a shopping list.
Avoid shopping malls where you might be tempted to spend money.
Make your own wrapping paper – even use “old school” brown paper.
Shop the pre-season sales for cheaper gifts.
Put money away in November and December for school fees and other big expenses in January.
Invest your Christmas bonus or use it for big upcoming expenses in January.
Join a stokvel or festive season savings club.
Start a high interest-earning savings account early in the year for Christmas.
Buy in bulk or shop online to find the best bargains.
Go DIY on the Christmas décor – you’d be amazed what you can do with organic finds like seashells and feathers.
Draw up a festive budget and keep track of your spending.
Cut back on extras when you can.
Make your own Christmas cards or send e-cards.
Give plant cuttings.
Leave your credit card at home when you go shopping. Draw cash instead.
Give time instead of gifts. For example give someone a night of free babysitting.
Invest in experiences rather than things: buy family tickets to a show instead of buying things.
Book any travel well in advance – prices skyrocket around the festive season.