|January 5, 2018||Comments Closed|
Christmas can be a wonderful time of year. Spending quality time with friends and family, enjoying holidays, offering gifts to loved ones, and certainly the famed Christmas dinner! It’s unquestionably a time for giving, and with this comes expenses. It’s very easy to go overboard with family trips, gifts, and extravagant foods; to let your hair down and delight in the spirit of Christmas. The fact is, though, that the silly season eventually passes and a lot of us are left with the stress of large credit card balances. Some people spend months trying to settle their Christmas debts, while others end up in much deeper water.
While some people have the financial ability to shower their loved ones with luxurious gifts and lavish parties, most of us need to be vigilant to spend within our means so our Christmas joy can continue smoothly into the New Year. So with this being said, I’d like to share with you some efficient ways of celebrating Christmas, without breaking the bank.
1. Set a Budget
Although it may sound cliché, it’s imperative that you determine a budget and adhere to it. Draft 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 imagined. Use this as encouragement to think outside the box (pardon the pun!) and make some changes 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 presents, or maybe consider making gifts yourself! ASIC has published an excellent app to control your Christmas spending called TrackMySPEND (https://www.moneysmart.gov.au/) which I’m certain many of you would find useful.
2. Shop Online
While lots of people find excitement in wandering through department stores and basking in the beautiful Christmas displays, almost all the same goods are offered on the internet at much cheaper prices. Utilise comparative shopping websites such as Google Shopping, PriceGrabber, or Nextag to locate what you’re looking for. These websites are highly competitive and will nearly always have discounts that can save you a bundle. Whilst 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 family and friends, you’ll have an idea that the costs of this exercise can be relatively expensive. It’s no surprise that only some of your friends and family will actually keep these cards so it’s essentially just money down the drain. Instead, why not send a family Christmas video message online? There are loads of apps on smart phones and tablets that enable you to send quirky and entertaining Christmas videos that can be sent out digitally at no charge whatsoever. Then again, you can always make your own Christmas cards with personalised messages and have your little ones draw pictures to make them super special!
4. Wrapping Paper
An exquisitely wrapped gift can make a significant difference, despite being the cheapest of presents. Christmas paper can be relatively pricey, so contemplate buying plain brown paper and adding a festive ribbon from a craft shop which will look much better than Christmas paper. You can even re-use brown paper bags that are commonly given at clothing stores. Additionally, consider purchasing plain gold, red, or green paper which can also be used as birthday presents throughout the year. Remember, many department stores will wrap your gift completely free, so don’t be afraid to ask!
As you can see, Christmas celebrations doesn’t need to break the bank. Regrettably, however, lots of individuals spend beyond their means and end up 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 support on financial hardship, speak to the specialists at Bankruptcy Wyong by calling 1300 818 575, or alternatively visit our website for further information: http://www.bankruptcy-wyong.com.au/