Published on December 2, 2015 7:52 am, by Jen Bakker
Christmas is nearly here. It’s crunch time. Yes January is often a time of “getting over” December, but don’t let your lack of funds stop the fun and relaxation. Stop and think before spending.
Here’s how to stop or slow the pre-Christmas money expenditure.
Think about how much you will spend before you go out. Have your exit strategy and get home plan locked in before you go out for the night. With Christmas parties galore through the nation it’s a hard time to flag a cab and get away with saying no to “just one drink”. Christmas parties are great fun but we can forget to factor in the cost of some drinks after the party, the midnight kebab or McDonalds stop, and the cab ride home. A little bit of preparation can mean your wallet is heavier at the end of an evening out.
Research your gifts before you buy. Take the time to consider what the gift recipient does with their time, what their home is like and how they relax. Get some ideas together, jump online and see what’s available at what price. When you finally hit the shops, go with a firm idea on what you’re buying and the limit you will spend. If you have researched, you will know what you can get for the dollar amount that you’re willing to spend and you’ll be less likely to pick up the first thing that mildly represents what you want to purchase. Have a list, your ideas and dollar limit for each person you are buying for.
Take a look at your credit card statement. Before you go anywhere check your accounts. It’s easy to go in to denial at Christmas time. The shops are pretty. There are lots of red sale signs to grab our attention. Going with the flow can be slightly dangerous as you look around the shops at all the people with all the bags, and all the pretty displays. Before you go out shopping check your credit card statement. Think about what you’ll need to sacrifice in the few months after Christmas to pay off the interest and balance. Is it worth it?
Jen is an experienced banking professional who loves wine, coffee, finding a bargain and of course her three beautiful children. Since Jen's first budget led her to buy a home at 20, Jen has passionately helped others to make better decisions with their money.