Spring fever can lead to debt

Resist sources of temptation

After having been cooped up all winter, it’s very normal to want to celebrate the changing season. Some people enjoy a good spring cleaning, but others are often tempted by impulse buys. However, with higher inflation, and sky-high construction material and groceries prices, it’s important to be vigilant.

To avoid giving in and cancelling out all your efforts since the beginning of the year to follow your budget, you need to be aware of the problem and learn how to bypass it.

 1. Leave your credit and debit cards at home

Credit makes purchases so easy that you often forget the amount you just spent. Without being aware, you can often find yourself having to pay a hefty balance. How can you avoid this trap? Consider paying cash!

2. Give yourself a budget

We saw this earlier this year, making a budget and respecting it will help you see your income and control your current expenses each week, including your gym memberships or going out to eat, which you had to curb because of the pandemic. By following your budget diligently, you will know how much you can spend on items that aren’t a necessity. To easily make your budget, consult our online tool .

3. Do I really need it?

As mentioned earlier, impulse buys are mostly about things that are not always essential. Even if buying them provides instant gratification, what you should ask yourself every time you’re tempted is: Do I really need this? By answering truthfully, you give yourself a good way to keep control of your expenses while enjoying the beautiful days ahead!

Rain or shine, if you think you need help, our financial recovery counsellors and licensed insolvency trustees are here to talk about it.