A big spender tells how she took control

money@mirror.co.uk CHRISTMAS is almost here and many of us will end up spending more than we can afford, leading to financial worries and the struggle of paying off debt in the New Year.

But there are ways you can get through it without landing in the red. It just takes a bit of planning – and some willpower.

Storm Macauley-Leak, 27, discovered this first-hand. She got herself into debt in the past by trying to impress family and friends.

MERRIER

But this year it’s a totally different story and she’s feeling a lot merrier and actually looking forward to some festive fun.

The sourcing partner for Hays AstraZeneca in Cambridge is trying to save for a deposit for her first house, so she’s very careful with cash.

Christmas could have been a challenge as Storm likes to be generous with family and friends.

But this year she got organised well in advance to avoid suffering a big hit on her pocket.

She says: “I actually started my Christmas shopping in the January sales. There were some really good bargains, so I could still buy good quality gifts for half the price, or even less – and that makes sense to me.

“Outside of that, I’ve bought a present or two each month since then. I’m looking at it pretty much the same way as I do with my regular bills – those are all paid by Direct Debit so I can avoid needing to suddenly find a large amount. That’s exactly what I’ve done for this Christmas, just spending a little bit every month.

“To make sure I don’t go budget, I worked out what I’m saving by spreading the cost of my bills, as some firms offer incentives when you pay via Direct Debit.

“I ended up saving more than I’d planned to spend on gifts, so I can still afford to put some money away towards my deposit for a house.

“I even did the same with my outfit for the office Christmas party. I bought the shoes in the sales, but the dress I wanted was expensive so I paid for it in instalments.

“But it isn’t all about buying things. I’m really lucky that I’m not bad creatively so I’m making a lot of over presents this year. I like to paint, mostly animals, so I’ll be wrapping up some of my own work to give to family and friends. That also means I can make the presents really personal. “Christmas can be very stressful. It’s so easy to get into a competition about who can give the most expensive gift.

“When I was younger, I used to spend every penny I had, and then some – so I did get myself into a bit of debt. Looking back on it, it was silly, as no one expected me to do that, but I used to get carried away. That’s why being careful with money has become really important to me.

“I’m always looking for a bargain, or the cheapest way to pay, especially if it’s something boring like a bill – why would I want to pay more than I have to for that? I can make better use of the money.

“I know Christmas is huge for lots of people but, when you think about it, it’s really just one day, and you shouldn’t end up struggling to pay for it.”

While it may be too late to follow Storm’s example this year, you can plan to do that for 2019, starting with the January sales.

In the meantime, here are some lastminute tips to help keep your finances in better shape over the festive season.

Ditch pointless presents: Agree with friends and extended family that you won’t give gifts this year. That way, they won’t have to return the favour, either. Or at least set a budget on how much you can afford to spend.

Fix your funds: Work out exactly how much cash you’ll have – without dipping into your overdraft or building-up debt on credit cards – and stick to that budget. Try using cash to pay for things, and take out only what you can afford. It will make you take notice of how much you are actually spending and mean you can’t go over your budget.

Think outside the gift box: Create home-made presents or vouchers that can be redeemed for treats such as a family film night, games day, baby-sitting or a dog walking service, or even washing the car or cooking a meal ( friends and family will appreciate these more than you getting into the red and struggling with cash).

Beat those bills: If you’re expecting a big bill before Christmas or even just after, see if you can switch to Direct Debit before it lands. As well as letting you spread the cost, lots of billers offer discounts for paying that way.

Sell surplus stuff: Everyone’s looking for bargains at this time of year and one person’s trash can be another’s treasure. If you are sitting on unwanted items, sell them via the likes of eBay or Facebook.

It’s so easy to get into a competition about who can give the biggest gift