How to Stay on Top of your Finances this Christmas
How to Stay on Top of your Finances this Christmas
While Christmas is undoubtedly a fabulous time of year, it’s also an expensive one! Some people start planning and saving in January, let alone October, especially when they’re part of a large family with lots of gifts to buy and mouths to feed. It’s essential that, when the festive period comes around, you stay in control of what you spend and keep an eye on your finances so that you’re not suffering once it’s all done and dusted.
It’s not so bad if you’ve been saving up throughout the year because at least then, you have the money ready. Others may prefer to pop their purchases onto a credit card and pay it off once the December payday has been and gone, which can be an incredibly appealing and convenient option for many who don’t get early pay before Christmas.
If a credit card is the route you choose to go down, make sure that you check your credit report before applying – if you proceed to site as soon as possible, you can see what your finances look like to finance providers, and will be able to evaluate your chance of acceptance for a credit card to help you spread the cost of your Christmas shopping.
Here are some top tips on how you can stay within the realms of “sensible” this Christmas, rather than spending excessively and struggling to afford it.
Set a budget – Make a list of who you have to buy for, how much you’re planning to spend and any ideas that you may already have. It’s hard to stick to the budget that you set, but if you want to come out the other side without worrying about the mound of receipts and bills, it needs to be done.
It’s not all about presents – Remember that while presents are always going to be gladly received, Christmas is more than just gift giving. Bear in mind that your budget needs to accommodate every other expense as well, with travel, food, drink, cards, socialising and parties being high up on the list, too.
Don’t get carried away – even if you get paid a little early during December to give you a bit more to play with, still remember that you need to survive for the rest of the month.
Don’t forget about January – if you can’t manage with just your debit card and opt to go down the credit card route, remember that you will still have to pay whatever regular bills you normally have. Keep enough money aside to make the payments that you know you have to make so that you don’t fall into arrears.
Pay more than the minimum – if you can’t pay off your credit card in full as recommended, try to pay more than the minimum so that you can clear it sooner. Set yourself a realistic deadline for when you would like the whole balance to be cleared and stick to it.
Plan for 2014 early – the sooner you start thinking about the 2014 festivities, the better off you’ll be. You don’t have to start buying things if you don’t want to, but putting a little aside each month in preparation can really help.
Most of all, look forward to the imminent festivities – it’s a fabulous time of year that should be enjoyed as much as possible!
Posted: 28th, October 2013 | In: Money, Online-PR Comment | TrackBack | Permalink
