Planning your finances for the Christmas season
There is no doubt that Christmas is a season of celebration and fun, but it’s also a very expensive season for most people. You need to think about purchasing food, gifts, travel, vacations and a wide range of expenses that can put a very strong dent on your finances for the coming year.
In this article, we are going to give you some important tips on how you can plan your finances for the Christmas season and start January without problems.
No credit for gifts
The biggest problem and mistake that people make during the holidays is to buy presents for everyone with their credit cards. This is giving them the false sense of not having to spend any money at that moment, but then the bills come next month and most people will only pay the minimum fee to avoid hurting their credit score. With an online cash loan from Swift Loans Australia you'll have a regular repayment plan and your loan will be paid off in full in a maximum of 18 weeks.
Create a list of possible gifts
You need to create a good list of gifts you can buy for every person. This list needs to include gifts that are within your budget and that is going to allow you to get the best results. It will also keep you from going over your budget with anyone.
Save from the start
Even $50 a month will go a long way for your Christmas expenses so try to save as much as you can for every holiday season. This is going to allow you have some extra cash that you probably would have spent on a couple of fast food meals or at the movies.
Do your Christmas shopping in November
The best way to save money on your Christmas shopping is to do it in November and it would be even better if you can take advantage of black Friday for this purpose. December is the worst time to purchase presents because prices are more likely to be higher in most stores and for most items.
Cut back on other expenses
If you feel that your budget is not going to be good enough, you might want to cut back on some expenses that aren’t as necessary. Maybe you can skip those weekly restaurant dinners with your family or perhaps you could do without that new 55 Inch TV. Keep in mind that the tradition of giving gifts to others is often going to be maintained only when everyone gives gifts to each other.
A great way to deal with a bad year that ended up with financial problems for you is to be creative. You could purchase a bunch of flash memory cards for a low price and give one to every person. The trick is to invest some time in this and to place their favorite music inside each flash drive. There are stores that sell up to 20 flash drives with 8GB capacity for 40 bucks. These deals are always out there, so keep an eye out for them and be creative with your gifts.