With Christmas shopping, this year already well underway, what better time to think about how and where you are spending your money during this festive season than now.
We all want to give the most luxurious, bespoke gifts to our family and friends, but this can leave us in debt and reaching for payday loans to help us fund these festivities.
So, with these loans being in place for financial emergencies only, let’s take a look at ways to make your money last this festive season, so you can avoid opting for a loan.
Make A Realistic Budget
Firstly, you will really benefit this festive season if you make a realistic budget and stick to it.
The best way to do this is to allocate a certain amount to each person, however be careful not to make the budget too little, as this could result in you spending over the budget if you cannot find anything for the original amount.
Additionally, when you set your budget make sure that you leave plenty for the food, decorations and travel over the Christmas period.
Utilise The Secret Santa Method
When buying Christmas presents it can be difficult to know when to draw the line; your teacher, boss, co-workers? That is where the secret Santa method comes into play.
Let’s take the workplace as an example. With everyone in the office being allocated a different person; you can be sure that everybody will receive a gift.
This means that you don’t have to worry about buying additional presents on top of that.
This method can be implemented with your family too.
If you are part of a very large family, with a number of aunts, uncles, cousins and potentially second cousins too, this technique can mean that you only have to buy your immediate family presents, which ultimately will save you a lot of money.
You Need To Know When To Stop
Don’t go overboard with your gifts, so once you have finished buying for all the people on your list, stop!
It can be very easy to just add a couple of little extra gifts to your original purchases; however, once you have done this for everyone you will find that you have spent quite a substantial amount.
Christmas Isn’t About Gifts
Unfortunately, the real meaning of Christmas is starting to be lost, due to everyone worrying about how expensive the gifts that they give are, instead of spending time with their family.
This year, enjoy the gift of giving, but give something sentimental not expensive.
Cut down on the number of gifts you give and focus more on the fun activities you and your family can do around the fire and Christmas tree.
What’s more, create gifts with your children and give home-made presents this year to save money and add a personal touch.
Don’t Overbuy Food
The delicious foods at Christmas make us want to indulge in everything in the shop; however, this can make for quite a lengthy, pricey bill at the checkout.
Therefore, similarly to your gifts construct a list with the food essentials that you will need for the festive season. Of course, you can add a few additional treats on there, after all, it is Christmas!
As you can see, through all the hustle and bustle of the festive season, there are in fact a number of ways for you to cut down on expenses and avoid opting for a payday loan. Happy shopping and Merry Christmas!