Effective ways to deal with money at Christmas
THE Halloween costumes and decorations are now safely kept at the stock room and Christmas decors are in full gear. As we enter the month of December, we may already be starting to feel the pain of Christmas spending. For some, no amount of 13th-month pay or year-end bonus will be enough to buy all the items being displayed in the mall. Calendars are almost full of events with friends and extended family members. Overindulging comes every Christmas. However, substantial food and drinks are often matched with overspend- not only patch a hole in your pocket but develop the creativity of your children as well. Making it part of your culture will surely make your holidays something to look forward to and an unforgettable family event. Just look around your house and for sure there are many items you are thinking of throwing away already but can still be used as raw materials for your Christmas decor. You can use an old cloth, cardboard, boxes, jars, etc.
Using your note app, keep a running total. Keep a close check on your spending. It will be so easy to go beyond your budget using your credit or debit cards. So use cash instead when buying something. Data revealed only 57 percent of people who set a Christmas budget stick to it. Paying in cash will relieve you of after-Christmas pain. The painful reality is 80 percent of people have not cleared their holidays debts by April the following year.
You may also want to contact a Registered Financial Planner who can assist you in organizing your finances. This will help you be more realistic on your ideal way of celebrating the season.
We all know that it is hard to escape the fact that Christmas is expensive and it always seem to come around very quickly. We
- pendence and doing everything to save and invest throughout the year, then suddenly it’s December and we all lose our money sense. Yes, this season can be overwhelming, but if you do the right plan and start it early and execute carefully, you can cut out a lot of spending without taking even one happiness away from your holiday celebrations.