Christmas is fast approaching, which ideally means it’s time to attend all the parties, consume all the food, and purchase all the gifts. Although many employers kindly give out December’s pay a bit early to cover it, all of that holiday pleasure comes at a price, and by the time January comes around, we’re frequently in a tight financial situation.
With that in mind, and with December’s paycheck clearing too, we have some advice for you.
Draw up a budget and stick to it
Knowing how much money you have to spend each month and staying within that limit are the first steps in budgeting. That’s all there is to it. One strategy for easing the financial strain of Christmas is to plan beforehand. Once you’ve established a budget, follow it religiously and you shouldn’t have any financial blues in January.
Here are the first three steps in constructing a budget:
Make a note of the entire amount of your outgoings.
Take your regular expenses out of your salary to get your available Christmas money.
Establish a budget for all of your holiday expenses, including gifts, decorations, sweets, lunches out, beverages with friends, and all the other enjoyable things, using the money you have available.
Don’t get carried away
It’s easy to get carried away and lost in the joy of the season. However, you might blow the budget you’ve just worked so hard to set up as quickly as you can say, “Drinks are on me!” Maintaining a budget will assist you avoid overspending; you’ll thank yourself later for it.
Stretch your money
Always been the lookout for Christmas deals.
Familiarise yourself with happy hours, 2-4-1 dinners, and discount codes. Never organize a night out or get-together without first seeing whether you can get a discount or a freebie. For the best chance of saving money, choose a weekday event and spend your weekends relaxing at home.
Due to salons’ desire to fill available appointment periods, last-minute hair and beauty services might occasionally be less expensive. Watch your social media accounts or request a call from them if there are any cancellations.
Save your food shopping for friends’ get-togethers at your house for right before the stores close, and pick up yellow-sticker munchies for a fraction of the cost. This is particularly beneficial if you’ll eat everything in one night.
Gather shopping points
You can still save money if you want to shop for Christmas presents by being more selective about the stores you visit. Many retailers now offer loyalty programs that reward you for purchasing with discounts or money off.
Also see: Its never too late to start saving money
