There's life after the festivities, plan your budget carefully

​There's life after the festivities, plan your budget carefully

By Mpho Sibanyoni

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It's that time of the year when those who work for companies that have performed well may be fortunate enough to receive bonuses. This payment, which is usually added to your October, November or December income, could run to any amount depending on your employer's generosity.

Many researchers consider December bonuses important because they boost employee morale and give them a financial breather during the festive season, which generally has more spending demands than the rest of the year.

Extra cash, however, may tempt you to spend money on items that may turn out to be unnecessary in the long run.

A happy-go-lucky mood may result in a high drinks bill or party favours for the family, but not much to show for all your hard work. Experts advice that it is vital to draw up a budget. Base your plan, realistically, on what you can afford.