Christmas is a heavy time financially for all of us.
But it does’t have to overwhelm you.
Here are some tips to minimise the holiday season hangover and go forth into 2019 with a clear head and minimal overdraft!
1. SHOP SMART
Make it your mission to not pay full price for a single one of your gifts this year – buy everything on sale. Even if you’ve left it to the last minute there are sales everywhere! Sometimes if you buy too far ahead you end up doubling up anyway…
2. BECOME A DIY LEGEND!
Don’t feel the pressure to buy the most expensive gift. Home made = Love (and very on trend!). Have a crack at baking or using your artistic flair and create something aligned with your hobbies!
3. WATCH YOUR CASHFLOW
Track your spending leading up to Christmas and try to keep within your means. Have an allocated amount set for friends, family, partner, kids and stick to it! If you spend an extra $20 over 12 presents, boom – there’s an $240 right there!
4. BIG EXPENSES FIRST
Don’t forget about your mortgage and your bills. You don’t want an additional payment or two hanging over your head and incurring interest as you kick off the New Year.
5. BE MINDFUL OF AFTER PAY AND ZIP PAY
Pay later and you might just well….pay later. These schemes certainly have their advantages but be mindful and aware of terms as you might just spend more than you had anticipated. An easy way to fall into the trap of living well beyond your means.