Weekend Spending

You’ve decided to save for a new car, or perhaps a trip to Mauritius. You don’t buy unnecessary lunches and instead pack them for work. You take the bus to the office. You stay in during the week instead of eating out at expensive restaurants. Then the weekend arrives and you spend two weeks’ worth of your savings in one night.

It doesn’t have to be like this. Just because you’re looking after your financial interests, doesn’t mean you have to hibernate over weekends. Bryan Leach, a financial planning consultant for Private Client Holdings, shares a few money-saving tips to keep your savings in check on the weekends.

Friday Night: Movie Night	There’s nothing more satisfying than ending off a great weekend with a shopping spree. Even if you have no money, there’s always your credit card, right? Wrong! ‘Don’t use you credit card and erase a weekend spending spree from your mind,’ says Leach. You can easily fool yourself into thinking you’re not spending anything because you’re swiping a card and not using hard, physical cash. Using your credit card fools you into thinking you aren’t overspending – until reality bites when the statement comes. The ideal solution, says Leach, would be to put a certain amount of money away each weekend and only use your credit card when absolutely necessary. This kind of allocation or rationing will help you prioritise. Keep a tab of your weekend expenses, he says, and investigate activities in your area that are free and fun at the same time – with a bit of effort you’ll find they do exist.
Saturday Night: Eating Out
Sunday: Shopping

Author: Lindi Brownell