The Christmas holiday season isn’t just for enjoying time with your family and friends, it’s a time where we find ourselves over spending the most. Black Friday and Cyber Monday open the door that leads to the retail industry’s dream time, also known as Christmas shopping. This year, to assist in the lead up to Christmas and make sure that you keep your spending in check, here are our top saving tips to help you avoid a financial hangover:
Before you make a plan of the purchases that you intend on making this December, decide on a budget for your spending first. Recognise how much you can afford to spend as well as how much you actually want to spend and stick to it. If you do need to look into borrowing money, be sure to leave yourself enough time to shop around for the best deal on your loan.
While you’re at home, write down a list of the names of everyone that you intend to buy a gift. Next to it, make a note of what the gift is. After this, create a list of whatever else you need to purchase for the holiday season, including food and decorations, and then look for the best deal.
If you haven’t planned to buy something, do you really need it? At Christmas time it can be quite easy to get caught up in the madness of shopping. Even if something seems like a bargain, you still have to pay for it. If you struggle with impulse buying, step away and spend a day to think about whether or not it is something you need before you make a decision.
Christmas is a time for celebration and a time to enjoy yourself. While shopping, be sure to have fun but most importantly, remember to think long term. This celebration should not impact your finances for months afterwards, so be smart when you shop.
If you’re wanting to find out more information about how you can spend wisely this Christmas, contact one of our team members for professional advice on 1300 784 084.