Beat those Janu-worry financial blues

13 November 2016 - 02:00 By DINEO TSAMELA

As 2016 draws to an end we have much to reflect on. It's been a year full of surprises - Brexit and a Trump presidency - and who knows what 2017 may hold? To help you begin 2017 on a steady footing, work through the following list before you wrap up the year and enjoy the holiday - with a little discipline January won't be fraught with economic hardship.• Check your credit scoreIt's a good idea to check your credit score. You can access your credit report through TransUnion or Experian South Africa. If you can afford to, get the report that drills deeper into the details of your credit accounts. Be on the lookout for errors or suspicious accounts. R emain aware of the score and maintain it throughout December.story_article_left1• Make an appointment with your financial plannerA lot may have happened in your life. Perhaps you got a new job, got married or divorced, or you had a baby. Whatever the change, make sure that your financial plan is up to date. Review everything, including your life cover, estate plan and investment portfolio.• Review your medical aid planA lot of medical aids are reviewing their prices and benefits for the new year. Pay special attention to rate increases and changes to the benefits - and compare service providers. You may find that it's time to switch plans.• Review your debt repayment goalsIf you have been working hard to pay off your debt, it may be worth checking your progress and seeing if you can make any changes.For those who have struggled to keep up with their plan, speak to your creditors and see whether you can devise a better solution. If you are fortunate enough to get a year-end bonus, consider using it to pay off your debt.You may be tempted to spend your hard-earned money, but pushing for a little financial freedom is something your future self will thank you for. Forgoing instant gratification in favour of long-term stability is the best thing you can do for yourself.sub_head_start A QUICK GUIDE TO SURVIVING THE SILLY SEASON sub_head_end• Pay all your fixed costs for December upfront. For the payments you can't schedule early, such as car and insurance debit orders, consider using a separate account for your spending and leave your main account untouched to avoid debit orders bouncing.story_article_right2• Stock up on basic foods, buy meat in bulk and freeze it and take all necessary precautions to ensure that you are not flat-out broke with an empty fridge and bare cupboards in January.• If you celebrate Christmas, budget for gifts and clothing now.• Parents should start planning for the new school year as soon as possible. Set money aside so that school fees and stationery and uniform costs don't take you by surprise in January.• Don't let 2-for-1 specials and "75% off" sales draw you into a false sense of "saving". You're not saving money if you weren't planning on buying the item in the first place.• If you must shop, wait for specials after Christmas Day.• Use spend-tracking apps, such as 22seven, to keep tabs on how much money you're burning and how fast. This will give you a real-time view of your spending and could help you know when to slow down. Hopefully...

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