4 Simple Ways to Avoid Over Spending This Xmas
Christmas can be a time of traditional ‘over spending’ & we often go into the New Year needing to tightening our budget a little & lessen the waist line.
Here’s a couple of ideas to help you avoid New Year ‘Financial Hangover’ and still enjoy the silly season.
1. Have a spend limit
This may seem obvious but it’s generally the first thing most over spenders ignore when it comes to Christmas spending.
Setting a spend limit on everything from food to presents can help you avoid getting caught up in the festive frenzy.
Discuss with family and friends a spend limit that works for you all. And if you’ve got a particularly big family you might decide to buy for the kids only or buy a present for the whole family.
The added bonus of discussing a spend limit with others is you can avoid any awkward gift giving moments & it helps you to stick to your budget over the holiday season.
Maybe you like to keep spending a little more over Christmas but you know your income just won’t stretch quite that far. One thing you can do to increase the cashflow, is to sell on those items that have been gathering dust in your closets, cupboards & garages.
Hand on heart most people have some unwanted items lying around the home, and classified sites like Trademe & Gumtree are a great place to find someone rehome these things. Or you may even look at having a garage sale.
3. Repurpose those gift cards
Apparently one in five of us own an unused gift card or cards about to expire.
Instead of letting that money go to waste, why not put them to work making this year’s silly season a little more merry & bright.
Or, perhaps the card is for a store you rarely visit, maybe there’s a family member, friend or colleague who’d love to buy it off you?
Warning: make sure they aren’t associated with the person who gave you the gift card.
4. Plan ahead with groceries
With all the events & get togethers that go on over the Xmas & New Year period eating out & drinks can definitely start blowing the budget. Even eating in can put a strain on things as supermarket prices start to creep up.
Eating seasonally & locally can help ease the grocery bill. Also cooking a little extra on weekends & saving leftovers, can help you resist the weekend takeout cravings.
Then this is where we may come in, give us a call & have a chat as short-term refinancing maybe an option to get things back on track in the New Year.