How to set money boundaries during a family break – the nice way

Last updated on 26th June, 2023 at 03:32 pm

It can be tricky navigating money conversations with family and friends when all you want to do is have fun together. Here’s how to clearly set money boundaries that stick.

Reading time: 3 minutes

In this article you’ll learn:

• How to enjoy a family break together while sticking to a budget.
• Ways to set money boundaries with loved ones.
• How your Sanlam Reality benefits can help stretch your rands during a family break.

It’s the simple things

Some of the best things in life are free. Keep it simple with an upcoming family break by going back to the things that matter: if you can’t afford it, don’t do it.

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Plan

Making it through a family break requires a plan. Plan in advance. We all know when a family break is coming, so try to save leading up to it. You can even buy one present a month. Try buying items when they are on special for the following year.

Manage expectations

“Have an open discussion with family and friends before a family break. Everyone is in the same boat with regard to the rising costs, and wanting to curb spending over quality time together is a general trend. Curbing spending is not only about affordability, but also about prioritising spend, since most people have other priorities that are more important to them,” says Danelle van Heerde, Head: Advice Solutions at SanlamConnect.

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Cut costs

“With food becoming so expensive, it is time to take to a hard look at tradition and look for ways to reduce the amount of food and the cost of meals during family gatherings. This will not only save money, but also be much healthier for all! Agree to a simpler menu beforehand, and let everyone contribute to the meal. Move the focus of the gathering away from food and gifts to what is really important – spending quality time with family and friends,” says van Heerde.

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Be strict about your spending

“If you have budgeted R100 for a gift, don’t spend R120. It all adds up! Stick to the food budget – little treats and takeaways add up. If you get invited somewhere and you can’t afford it, don’t go,” concludes Blignaut.

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