HOW TO AVOID A FI­NAN­CIAL HANG­OVER

Style Magazine - - Promotion - BY CRE­ATE FI­NAN­CIAL SO­LU­TIONS

There’s noth­ing bet­ter than see­ing our loved one’s faces light up on Christ­mas morn­ing when they open their presents.

And while giv­ing gifts is a great way to show we care, it’s very easy to spend like crazy.

In the lead up to Christ­mas with so many ad­di­tional ex­penses to ac­count for, care­ful bud­get­ing is es­sen­tial.

But, with a lit­tle bit of thought and plan­ning, it is pos­si­ble to have a jolly Christ­mas with­out putting a strain on your bud­get.

TIPS FOR CON­TROL­LING SILLY SEA­SON SPEND­ING: 1. GET EV­ERY­ONE TO BRING A PLATE

Host­ing Christ­mas lunch is ex­pen­sive but you can spread the cost by ask­ing ev­ery­one to bring a dish.

2. BE A SAVVY SHOP­PER

Set a bud­get for presents and stick to it. In­stead of buy­ing for ev­ery­one why not or­gan­ise a ‘Se­cret Santa’?

Also use cat­a­logues and shop on­line to find the best deals.

3. GO EASY ON THE CREDIT

While credit cards are con­ve­nient, they can be ad­dic­tive over the Christ­mas pe­riod and undo a well-planned bud­get.

Avoid buy­ing gifts with credit, un­less you are go­ing to be able to pay off your card be­fore in­ter­est is charged.

4. START PAY­ING OFF YOUR HOL­I­DAY NOW

If you’re go­ing away over the Christ­mas break, try to pay off your ac­com­mo­da­tion costs in in­stal­ments be­fore you leave.

5. BAKE IT OR MAKE IT

If you have a ta­lent for craft or bak­ing you can cre­ate in­ex­pen­sive presents such as home-made fruit cakes, rocky road, jams and rel­ishes.

6. BUD­GET FOR NEW YEAR EX­PENSES

When do­ing your Christ­mas bud­get, don’t for­get to fac­tor in some of the big ex­penses you’ll be fac­ing in the New Year.

If you’ve got chil­dren, be mind­ful that all those back to school costs are just around the cor­ner.

You’ll also have a new round of bills start­ing to roll in, such as rates, elec­tric­ity and phone bills.

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