|January 5, 2018||Comments Closed|
Christmas can be a wonderful time of year. Spending quality
time with your family, enjoying holidays, offering presents to loved ones, and certainly the famous Christmas lunch! It’s indeed a time for giving, and with this comes costs. It’s very easy to go overboard with family holidays, gifts, and mouth watering foods; to let your hair down and indulge in the spirit of Christmas. The bottom line is, though, that the silly season gradually passes and many of us are left with the burden of big credit card balances. Some families spend months attempting to settle their Christmas debts, while others find themselves in much deeper water.
Although some folks have the financial ability to shower their loved ones with luxurious gifts and lavish festivities, many of us should be vigilant 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 effective ways of celebrating Christmas, without breaking the bank.
1. Set a Budget
Although it may sound cliché, it’s very important that you create a budget and stick to it. Create 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 believed. Use this as encouragement 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 possessions that aren’t being used anymore, speak with family and friends about a setting price limit for gifts, or maybe think about making gifts yourself! ASIC has launched an excellent app to monitor your Christmas spending called TrackMySPEND (https://www.moneysmart.gov.au/) which I’m positive many of you would find useful.
2. Shop Online
While lots of folks find pleasure in wandering through department stores and basking in the dazzling Christmas displays, almost all the same goods are available on the internet at more affordable prices. Make use of comparative shopping websites like Google Shopping, Nextag, or PriceGrabber to locate what you’re searching for. These websites are highly competitive and will usually have discounts that can save you a bundle. Whilst shopping online will save you money, you need to take extra precaution to ensure you get what you paid for.
3. Rethink your Christmas Cards
If you’re one of the many families who send Christmas cards to all your friends and family, you’ll comprehend that the costs of this exercise can be relatively 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 numerous apps on smart phones and tablets that enable you to send fun and amusing Christmas videos that can be sent out electronically at no cost whatsoever. Conversely, you can always create your own Christmas cards with personalised messages and have your kids draw pictures to make them super special!
4. Wrapping Paper
A beautifully wrapped present can make a powerful difference, despite being the cheapest of gifts. Christmas paper can be quite pricey, so think about purchasing plain brown paper and adding a festive ribbon from a craft shop which will look a lot better than Christmas paper. You can even re-use brown paper bags that are commonly given at clothing stores. Conversely, consider purchasing plain gold, green, or red paper which can also be used as birthday gifts throughout the year. Remember, many department stores will wrap your gift for free, so don’t be afraid to ask!
As you can see, Christmas celebrations doesn’t have to break the bank. Sadly, however, lots of people spend beyond their means and end up in financial hardship 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 advice on financial difficulties, talk to the specialists at Bankruptcy Adelaide by calling 1300 818 575, or alternatively visit our website for further information: http://www.bankruptcy-adelaide.com.au/