WINDHOEK – It is that time of the year again when most Namibians work as hard as possible to close off projects before year-end and start looking forward to a period of rest in December. However, for most the idea of a holiday remains somewhat of a dream. These days holiday accommodation, transport and other expenses make a well-deserved holiday unaffordable.
“One should include holidays as an item in your annual savings plan. We need to plan for our holiday expenses as we would for any other big expenditure item,” said Surihe Gaomas-Guchu, Corporate Communication Manager at Standard Bank Namibia.
“If your budget is already stretched as it is, consider these unusual ways of saving for your holiday and remember to deposit your savings into a Standard Bank savings account!” says Gaomas-Guchu.
She suggested instituting “two months of nothing” into the year when consumers divert all their saving money into a holiday savings account. “This means don’t spend your money on anything that isn’t an absolute necessity for those two months. For example, you pack lunch for work and road trips and bring your own water bottle to work instead of buying cool drinks from a vending machine. A good way of giving is to give a great Christmas present by donating your skills as a present. Offer to redecorate a room, build a website, offer photography or cooking lessons. Not only will you save, but you will give a useful and meaningful gift.
“Give the same gift to everyone – it will save you time and money. Put all your change into a jar and save it all year round. Don’t spend it until the holidays. Save your bonus for holiday spending. If you receive a larger than normal tax refund, save that amount for your holiday spending. A bargain is a bargain. Learn to shop all year round and save money by using this method to pre-plan the holiday gift-giving list,” said Gaomas-Guchu.
“If you are saving for something over the long-term like a holiday where you don’t need regular access to cash, consider opening a Standard Bank Fixed Deposit or Bonus Plus account,” added Gaomas-Guchu.