Here are 6 tips to make sure you don’t blow your budget!
1. Actually, have a budget!
We rarely sit down and work out what our Christmas budget is. Make a list of everyone you need to purchase a gift for and then estimate your spend. Check this against your budget to make sure you can afford it.
2. Don’t charge to a credit card
Save for Christmas expenses by putting money in a Christmas savings account or buying a $10 gift card each week to spend on Christmas.
3. Secret Santa
Arrange a secret Santa present for family members to avoid having to purchase many smaller, less expensive presents. Giving gift cards means the receiver of the gift can get even more value at the post-Christmas sales.
4. Make thoughtful gifts yourself
Gifts such as photo collages or family calendars are so personal and make great keepsakes. You can create these in the comfort of your own home saving you time and money.
5. Talk to family & friends
This year many of us may have had changes to our finances and could be experiencing financial stress. Talk to your family and friends about this and help to reduce the pressure on everyone. Remember, that spending time with loved ones is often the greatest gift we can give.
6. Be prepared for next year
If you are feeling stretched this Christmas, remember you can plan ahead next year.
Learn the lessons of this season and create a separate bank account for next year. Start putting money aside in January and build up your Christmas spending account in readiness for Christmas. Just $25 per week for a year will give you $1300.00 by the end of December next year.
Would you like to speak to a Financial Coach?
There is no better feeling than being in control of your money. Talking to a Financial Coach can help in so many ways. You and your family can access Financial Coaching through AccessEAP. Call 1800 818 728 to book a session.