Christmas is a time of giving, but don’t give yourself a headache in the New Year with bills and debts you can’t afford. The good news is there are some simple tips to help manage your Christm...
Christmas is a time of giving, but don’t give yourself a headache in the New Year with bills and debts you can’t afford. The good news is there are some simple tips to help manage your Christmas spending.
Set your festive budget
Setting a budget is probably the single most useful step you can take to manage your Christmas spending. Don’t forget to include your household bills in December so you know what is left is what you have to spend on your Christmas shopping. Then work out how much you are going to spend on each person and stick to it. Manage expectations as to what you can give. When planning your gifts, think creatively – there are lots of ideas online for gift ideas that are inexpensive, or free.
Shop around for deals
There are lots of good deals around, even at Christmas. Make sure you shop around and get the best price.
Resist the urge to borrow more
Payday loan companies, store credit and unauthorised overdrafts can be expensive ways to borrow money. However, if you do decide to take out credit, check the terms and conditions and create a household budget to make sure the repayments won’t leave you in difficulty.
Seek free advice
If you are worried about money or debt, don’t panic, there is free help and advice available. The earlier you seek advice, the sooner you can worry less about your money situation. You can find a number of organisations offering free online debt advice here: https://www.warwickshire.gov.uk/moneyanddebt
Think ahead
Finally, it’s never too early to start saving for next Christmas.If you’re feeling the impact of festive spending, why not make next Christmas financially stress free by joining a credit union? With a small amount automatically taken from your salary every payday, you’ll soon have a handy sum tucked away for December 2020! You can apply today at www.citysave.org.uk