We at Sheratum believe that responsible lending comes with responsible spending of money. By planning a budget that will show you what is happening with your money, you will be able to decide how to save wisely. This will give you more fast money to spend in the future.

The process consists of 3 steps that you need to take in all aspects of life, especially at the high costs of Easter, Christmas and summer holidays. The onset of April, May and the summer months, with no idea what is going on with your money, can soon become a real financial nightmare.

We all want to have a fun spring and a nice summer. Unless you want to have more chocolate coins than real coins, you need to be smart and make a plan.


Step 1: Determine your monthly budget

monthly budget

It’s not a good idea to go blind during the spring holidays, pay with a credit card all the time, and hope for a good start next month. Take an hour to determine your budget – how much you will spend and for what. There are many resources on the Internet and even mobile apps that can help, but the easiest way to plan your budget is to take a piece of paper and write down all the expenses you can think of and sort them by category such as household, food, gifts, vacations and more. Really everyone!


Step 2: Spend wisely

Step 2: Spend wisely

What do holidays mean if you do not over-satisfy your needs? The trick is to know how much is too much and how much is too much! Does a four-member family really need a whole lamb, or can it only prepare two pounds of meat for St. George’s Day and leave room for cheaper, and perhaps tastier, garnishes? How much alcohol should you stock? Remember, stores are only closed for one day and you can buy more afterwards if you need to. You should also not overdo it with gifts.

If you are organized well enough, you may even try making handmade gifts. Look for ideas and lessons on the internet, such as personalized photo frames, or turn alcoholic beverages from the store into personalized gifts through personal labels.

Lowering your spending on the May holidays doesn’t mean you are a miser. If you’ve done your homework for the budget, you’ll have noticeable savings without saving everything. All you need is a little creative thinking and a clear plan. Once you’ve been able to make savings, it’s important not to lose them. That way, smart spending will really pay off after the holidays.


Step 3: Plan for next month

Step 3: Plan for next month

Making a monthly budget and cutting costs may not be the most exciting part of the holidays, but the good news is that once done, it will be even easier next time. These savings will come to you as fast money for next month.

Make a commitment to save the same amount each month by making a savings account. It is much easier to stick to saving $ 10 per week than aiming too high and giving up when you fail to spend the amount you want.


How did you do it?

save money

The last stage of responsible spending for a spring weekend is to look at how you did. How much money did you spend and how close was the amount to the planned budget? Do you deserve praise for what has been achieved? And what are some of the lessons you learned?

It’s really important to keep an eye on how well you spent your money. It will give you a good starting point for the next month or season, and maybe even a challenge to do even better!

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