Christmas is just around the corner, here are some tips we have for you to manage money over the festive season ????
1. Plan your budget – know your income and monthly expenses. Any additional money left over can be used towards Christmas spending. Mortgage payments are your number 1 priority!
2. Avoid taking out new loans and going over your credit card limit or overdraft to cover the cost of Christmas. Buy what you can afford! ‘It’s the thought that counts’.
3. Secret Santa – Where possible try suggest this with your family or group of friends, this is a great way of keeping costs low. It also takes the stress out of buying for everyone.
4. Set up a Christmas Savings Account for 2022 – the money you save cannot be touched throughout the year it can only be taken out in November or December of that year so if it’s not showing in your current account it can’t be spent.
5. Extra Shifts at work – if the option is available in your employment ask for additional shifts to cover additional Christmas expenses. Having this cushion could help you go into the new year with no debts.
6. Keep receipts and keep a list of what you bought and spent this Christmas and next year you could cut costs even more by making changes where you can to this years Christmas spending. Think Ahead!!