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January 5, 2018Comments Closed

4 Money Saving Tips This Christmas

Posted by:Bankruptcy Specialist onJanuary 5, 2018

Christmas can be a wonderful time of year. Spending quality time with your extended family, enjoying holidays, giving gifts to loved ones, and certainly the noble Christmas lunch! It’s undoubtedly a time for giving, and with this comes costs. It’s very easy to go overboard with family holidays, gifts, and extravagant foods; to let your hair down and indulge in the spirit of Christmas. The truth is, though, that the silly season sooner or later passes and a lot of us are left with the strain of substantial credit card balances. Some folks spend months trying to pay off their Christmas debts, while others end up in much deeper water.

Although some individuals have the financial capacity to pamper their families with high-end gifts and lavish functions, most of us should be cautious 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

Though it may sound cliché, it’s imperative that you create a budget and follow it. Write a list of all the presents you’ll be giving and calculate the total amount. Most of the time, it will be far more than you envisioned. Use this as incentive to think outside the box (pardon the pun!) and make some revisions so you can stick to your budget. You could have a garage sale and sell things that aren’t being used anymore, speak with friends and family about a setting price limit for gifts, or perhaps consider making gifts yourself! ASIC has released an exceptional app to keep track of your Christmas spending called TrackMySPEND (https://www.moneysmart.gov.au/) which I’m confident many of you would find invaluable.

2. Shop Online

While lots of folks find enjoyment in strolling through department stores and basking in the elegant Christmas displays, nearly all the same products are offered on the web at much cheaper prices. Make use of comparative shopping websites like Google Shopping, PriceGrabber, or Nextag to locate what you’re searching for. These websites are highly competitive and will usually have discounts that can save you a bundle. While shopping online will be cheaper, you must take extra precaution to ensure you get what you paid for.

3. Rethink your Christmas Cards

If you are among the many people who send Christmas cards to all your friends and family, you’ll know that the costs of this exercise can be considerably expensive. It’s no surprise that only few of your friends and family will actually keep these cards so it’s virtually just money down the drain. As an alternative, why not send a family Christmas video message online? There are loads of apps on smart phones and tablets that allow you to send fun and enjoyable Christmas videos that can be delivered electronically at no charge whatsoever. Alternatively, 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

A nicely wrapped gift can make a significant difference, even with the cheapest of presents. Christmas paper can be rather pricey, so look at purchasing plain brown paper and adding a festive ribbon from a craft shop which will look much nicer than Christmas paper. You can even re-use brown paper bags that are typically given at clothing stores. Additionally, consider buying plain gold, red, or green paper which can also be used as birthday gifts throughout the year. Remember, some department stores will wrap your presents completely free, so don’t be afraid to ask!

As you can see, Christmas celebrations doesn’t have to break the bank. Sadly, however, lots of folks spend beyond their means and find themselves in financial troubles in the New Year. If you end up in this position, it’s better to seek professional advice sooner rather than later. There are many options available to you; all you need is the right advice. For any advice on financial problems, get in touch with the specialists at Bankruptcy Shepparton by calling 1300 818 575, or alternatively visit our website for further information: http://www.bankruptcy-shepparton.com.au/

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