Christmas is a time to celebrate and enjoy with loved ones without worrying about money.
However failing to save money for Christmas is a sure way of not having a joyful celebration of this once in a year celebration.
Leaving it all till December might sound like a perfect plan but beware, this will ruin your December Budget and the months to follow.
Statistically, November and December are the months with high numbers of people rushing to take out payday loans just to fund Christmas.
These payday loans charge hefty interest fees which are not fair to the borrower.
Some people even use their credit cards and overdraft to fund Christmas.
There are so many ways you can avoid having Christmas debt if you plan carefully.
Here are 8 ways to avoid killing your budget over Christmas.
1. Set Up A Christmas Budget
Work out how much you want to spend during Christmas and set a budget.
6 Common Things to Include In Christmas Budget
Once you have figured how much you want to spend for Christmas work out how much you are going to save each month.
You can open a separate savings account, use Christmas savings club or you can use a piggy bank to save your Christmas money.
2. Start Planning Early
The earlier you start to plan and saving money for Christmas the easier things will become December time.
If you save Christmas money in time you avoid borrowing on credit card or dipping into unauthorised overdraft.
3. Spend The Only Saved Money.
Avoid overspending when it comes to Christmas it’s important to stick to your budget and only spend the money you saved.
It’s easy to get carried away with Christmas spending so be sure to keep track of your spending.
4. Cut Back On Gifts
Christmas presents can take a really big amount out of your overall Christmas budget.
Find ways to cut on Christmas presents you don’t need to buy everyone you know on earth a Christmas present.
One good way to cut on Christmas gift is to have a Secret Santa, you can do it at work or with friends and family.
Having a Secret Santa will help you to save money on Christmas presents.
You use this Free Printable Christmas Gift Template for planing your Christmas gifts.
5. Shop In Sales
Take advantage of shopping in sales.
Start stocking up your Christmas presents early rather than shopping in December.
Throughout summer and autumn look out for sales and offers and buy your presents in time without the Christmas rush.
6. Find Ways To Make Extra Income.
An extra £100 or £200 can make such a big difference to your Christmas budget it can stop you from getting into debt.
6 Ways To Make Extra Money For Christmas
*Selling your unwanted stuff on eBay
*Taking up a second job
*Selling unwanted stuff on your Local Facebook selling sites
December does not have to be the worst month for your finances because of Christmas start saving now.
Don’t let Christmas kill your budget for December and the months that follow.
Over to you
What are you planning for your christmas this year?
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