Managing your finances over Christmas

There are a load of stresses around Christmas and money is just one of them.

 

Christmas can be expensive and if you’re still in last minute shopping whether that’s food or presents here are some tips to help you stay on top of your finances this Christmas.

 

Lists, lists, lists.

It’s important to be organised so write out your shopping lists and budget realistically. Do you need to spend that much on presents or can it be a little less?

If there are very specific presents you need to buy then jump online and check out where you can find it the cheapest.

 

Track your spending.

Lists and budgets are only good if you can stick to them. Track what you spend as you go and record your savings. It may help you when you find something is a bit more expensive than what you budgeted.

 

Avoid Credit.

Buy now, pay later sounds great in theory but what if later is just as tight as now?

It’s easy to get caught up in-store or bank credit at this time of year. It’s important to be realistic about if and when you will pay off any credit. To avoid the stress later on it may just be best to not take it all.

 

Go homemade.

There are small things that can help save money. While it would be great to make all your presents home made, that’s not always possible. So think of things you can do like your own wrapping paper and cards or bake biscuits instead of giving chocolates or alcohol.

 

Share the load.

Putting on meals at Christmas can ben expensive so share love and ask people to bring a dish along or even cover a entire course. Ask someone to bring desert or the entrees. For what you need to buy shop around for any discounts or specials and consider lower priced brands to help you save. And if you want to splurge dig around your wallet for any loyalty cards you may have and see what points you can spend.

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