Every year I say to myself that I will be better prepared for Christmas and here we are again in December and I have let Christmas sneak up on me again.
Here are a few simple tips to help you financially survive the silly season.
- Make a list – Make a list of everyone that you are buying a gift for and put a dollar amount by every name. Add it all up and total it at the bottom. That is your Christmas budget. If it is out of control, revist your list and start culling names on the list or readjust the amount that you are prepared to spend.
- Make a realistic budget – finding the perfect gift is a lovely sentiment, however, you will need to be practical and consider whether it is worthwhile going into debt just to get the ‘gift of a lifetime’. Set a budget for each person and stick to it.
- Pay cash – part the total from your budget in an envelope and physically part with your money. It does make you think about how much you are spending. Once the cash runs out – stop spending. This will help you stick to your budget.
- Compare prices – get your list and go online to compare prices. You will be then know where to get the best buy and remember do not make impulsive purchases. Check off your list and stick to it.
- Consider DIY – make your decorations, wrapping paper , photos and cards. Not are they personal, they are a fun way to spend time with children making personal gifts for family and friends.
- Avoid last minute shopping – under no circumstances leave everything to the last minute as you will grab the first items you see and spend way more than you intended.
With these small yet helpful tips it is possible to celebrate Christmas and escape a financial headache in January.
Happy Christmas Everyone!