|January 5, 2018||0|
Christmas can be a wonderful time of year. Spending quality time with friends and family, being on holidays, giving presents to loved ones, and of course the legendary Christmas meal! It’s indeed a time for giving, and with this comes costs. It’s very easy to overdo it with family holidays, presents, and mouth watering foods; to let your hair down and savour the spirit of Christmas. The truth is, though, that the silly season gradually passes and a lot of us are left with the burden of beefy credit card balances. Some individuals spend months trying to pay off their Christmas debts, while others find themselves in much deeper water.
Although some people have the financial ability to pamper their families with high-end gifts and lavish functions, many of us need to be watchful to spend within our means so our Christmas joy can smoothly sail into the New Year. So with this being said, I want to share with you some practical ways of celebrating Christmas, without breaking the bank.
1. Set a Budget
Whilst it may sound cliché, it’s vital that you create a budget and stick to it. Compose a list of all the presents you’ll be giving and calculate the total amount. The majority of the time, it will be a lot more than you pictured. Use this as motivation to think outside the box (pardon the pun!) and make some adjustments so you can stick to your budget. You could have a yard sale and sell goods that aren’t being used anymore, talk with family and friends about a setting price limit for gifts, or perhaps contemplate making gifts yourself! ASIC has launched a terrific app to control your Christmas spending called TrackMySPEND (https://www.moneysmart.gov.au/) which I’m certain many of you would find valuable.
2. Shop Online
Even though lots of people find pleasure in strolling through department stores and basking in the radiant Christmas displays, almost all the same items are offered on the net at much cheaper prices. Utilise comparative shopping websites like Google Shopping, PriceGrabber, or Nextag to find what you’re searching for. These websites are extremely competitive and will usually have discounts that can save you a bunch. Despite the fact that shopping online will save you money, you need to take extra precaution to ensure you get what you paid for.
3. Rethink your Christmas Cards
If you’re one of the many people who send Christmas cards to all your friends and family, you’ll have an idea that the costs of this exercise can be rather expensive. It’s no surprise that only few of your friends and family will actually keep these cards so it’s ultimately just money down the drain. As an alternative, why not send a family Christmas video message online? There are numerous apps on smart phones and tablets that enable you to send fun and entertaining Christmas videos that can be sent out electronically at no charge at all. Then again, you can always create your own Christmas cards with personalised messages and have your little ones draw pictures to make them super special!
4. Wrapping Paper
An artistically wrapped present can make a remarkable difference, even with the cheapest of gifts. Christmas paper can be fairly costly, so look into purchasing plain brown paper and adding a festive ribbon from a craft shop which will look a lot better than Christmas paper. You can even re-use brown paper bags that are often given at clothing stores. Conversely, consider buying plain red, gold, or green paper which can also be used as birthday presents throughout the year. Remember, many department stores will wrap your gift for free, so don’t be afraid to ask!
As you can see, Christmas festivities doesn’t need to break the bank. Regrettably, however, many people spend beyond their means and find themselves in financial turmoil in the New Year. If you find yourself in this position, it’s better to seek professional advice sooner rather than later. There are many solutions available to you; all you need is the right advice. For any direction on financial difficulties, get in touch with the specialists at Bankruptcy Frankston by calling 1300 818 575, or alternatively visit our website for more information: http://www.bankruptcy-frankston.com.au/