|January 5, 2018||0|
Christmas can be a wonderful time of year. Spending quality time with family, going on holidays, offering gifts to loved ones, and of course the noble Christmas meal! It’s undeniably a time for giving, and with this comes costs. It’s very easy to go overboard with getaways, gifts, and enticing foods; to let your hair down and delight in the spirit of Christmas. The fact is, though, that the silly season sooner or later passes and a lot of us are left with the burden of hefty credit card balances. Some individuals spend months trying to settle their Christmas debts, while others end up in much deeper water.
While some people have the financial aptitude to pamper their families with extravagant gifts and lavish parties, the majority 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 efficient ways of celebrating Christmas, without breaking the bank.
1. Set a Budget
Although it may sound cliché, it’s vital that you create a budget and stick to it. Develop a list of all the presents you’ll be giving and calculate the total amount. Most of the time, it will be a lot more than you figured. Use this as incentive 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 belongings that aren’t being used anymore, talk with friends and family about a setting price limit for presents, or maybe contemplate making gifts yourself! ASIC has launched a wonderful app to track your Christmas spending called TrackMySPEND (https://www.moneysmart.gov.au/) which I’m sure many of you would find useful.
2. Shop Online
Even though lots of folks find delight in wandering through department stores and basking in the lovely Christmas displays, almost all the same goods are offered on the net at more affordable prices. Utilise comparative shopping websites like Google Shopping, Nextag, or PriceGrabber to locate what you’re looking for. These websites are highly competitive and will usually have discounts that can save you a bundle. Whilst shopping online will be more cost-effective, you will need to take extra precaution to ensure you get what you paid for.
3. Rethink your Christmas Cards
If you are among the many families who send Christmas cards to all your friends and family, you’ll have an idea that the costs of this exercise can be somewhat expensive. It’s no surprise that only few of your family and friends will in fact keep these cards so it’s essentially just money down the drain. Rather, why not send a family Christmas video message online? There are lots of apps on smart phones and tablets that enable you to send fun and enjoyable Christmas videos that can be sent electronically at no charge whatsoever. Additionally, you can always create your own Christmas cards with personalised messages and have your children draw pictures to make them super special!
4. Wrapping Paper
An artistically wrapped present can make a remarkable difference, despite being the cheapest of gifts. Christmas paper can be pretty expensive, so think about purchasing plain brown paper and adding a festive ribbon from a craft shop which will look a lot nicer than Christmas paper. You can even recycle brown paper bags that are normally given at clothing stores. In contrast, consider purchasing plain green, gold or red paper which can also be used as birthday presents throughout the year. Don’t forget, some department stores will wrap your gift free of charge, so don’t hesitate to ask!
As you can see, Christmas celebrations doesn’t need to break the bank. Unfortunately, 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 solutions available to you; all you need is the right advice. For any support on financial difficulties, talk to the specialists at Bankruptcy Canberra by phoning 1300 818 575, or alternatively visit our website for more information: http://www.bankruptcy-canberra.com.au/