The holiday season is just around the corner – and whether you celebrate Christmas or anything else, chances are you may be spending big come December. After all, there are presents to buy, family dinners to make, and maybe even travel expenses. However you enjoy the holidays, it’s all too easy for those little costs to pile up in the background.
To minimise your Christmas shopping debt, having a strong financial plan is key – in other words, managing your money and keeping costs low wherever you can.
In that spirit, here are our top ways to save money this Christmas.
Track Outgoing Funds
The first and most important step is to keep watch on the money you’re spending during this time. Without a clear record of outgoing expenses, they can grow and grow before you’ve even noticed.
This record doesn’t have to be too elaborate – as long as it’s something that you can understand and refer back to whenever needed. Some people may find it easiest to just keep copies of receipts, while others will benefit from a more structured spreadsheet or similar. By knowing what you’re spending, you can make more informed decisions for that next purchase.
Use Cash Instead of Your Card
Another way to help mitigate over-spending is to ditch the card and bring cash to your next shopping spree. We’ve all faced that dilemma: you go to the store and get caught up in all the promotions and promises – and before we know it, we’ve forgotten that carefully-planned budget altogether.
By taking a set amount of cash with you, it will encourage you to only spend up to that amount. This isn’t always practical, but it can help to set healthy money habits (especially for younger family members).
Keep an Eye Out for Sales
An oldie but a goodie: there are always sales around the Christmas season, and making the most of Christmas sales can save you hundreds if you know where to look. Big items out at the front of isles may be discounted, but can still be expensive; so, where possible, consider trying different brands or stores than you would typically visit in order to get the best deal there is.
Try Non-Traditional Gifts
The best Christmas gifts don’t always have monetary value. Sometimes just spending time with someone can be a wonderful present. Additionally, think about crafting homemade goods or baking something delicious that everyone can share. After all, it really is the thought that counts.
Talk to a Financial Adviser
In the end, the best way to create a solid plan leading up to Christmas is to talk to an expert. Our services are free of charge, so please come chat to us and get that peace of mind you need this holiday season. We can work with you to determine a budget and prevent the build-up of unnecessary debts from things like your credit card or having to take out a personal loan.
Contact our friendly team to get started and save yourself from debt this Christmas.
|Copyright © 2019 Finance Matters NZ Ltd. All rights reserved.|