Festive Season Budgeting Tips

The festive season is a joyous time but the lead-up to the festive season can be stressful and can really stretch your finances. Here are some easy ways to spread the cheer without blowing your budget.

WRITE IT DOWN
Draw up a budget for your spending – not just presents, but your spending on food, drink and socialising.

PLAN AHEAD WITH A PRESENT LIST
Write down everyone you plan to buy a gift for, no matter how small the gift may be. List what you want to buy, and where from.

BE A SCROOGE AND COMPARE ONLINE
Most stores run their sales and promotions on their online stores. Online you can compare prices easily and look for promotion codes to save even more money.

BIG FAMILY? SECRET SANTA
Not only do you save time by not worrying about an extended list of people to shop for, you can also save a ton of money.

AVOID CREDIT CARDS – USE LAYBY
If you feel you can’t trust yourself with a credit card at Christmas, consider trying to pay for items with cash. If you pre-plan larger gifts, you can layby a few months early and pay them off over time.

FOCUS ON THE CELEBRATION
Talk to friends and extended family about spending time together instead of exchanging gifts. Sometimes the most remembered gifts are those that took thought, not money.

SHARE MEAL COSTS AND BRING A PLATE
Arrange for everyone to ‘bring a plate’ on Christmas Day so everyone pitches in and splits the cost and effort.

PLAN FOR NEXT CHRISTMAS
Look at the possibility of opening a high interest savings account and contribute a small amount each pay. You can also shop for presents throughout the year, especially during sales in January and at the end of the financial year.

Remember that Christmas is one day – don’t ruin the whole of the next year for it.