Stay in control of festive spending

Don’t blow your seasonal budget on Black Friday sales Whisper it quietly, but Christmas is almost here.

Black Friday, on November 24, marks the official start of the excessive festive spending period. But will this year be different in your home?

The cost of Christmas can be a real strain, and with everything seemingly more expensive this year, you risk busting your budget.

But by planning head, you can take the stress out of your festive finances this year. Here are my top tips…

Make a list

Before you even look at Black Friday sales, make a list and budget for the people you are buying for.

This should be an upper spending limit, not a target.

Some great deals are available on Black Friday but remember – it’s only a deal if you want to buy it.

It’s only a day

Every year we’re bombarded by months of adverts and promotions in the shops and online. But be mindful that Christmas is just one day out of 365.

Don’t spoil 2024 by starting out in debt for the sake of 24 hours.

It’s tempting to put everything on credit cards and think, “I’ll worry about that when the bill comes”. But with a little forethought, you can avoid the dread of checking your bank statements in the new year.

Don’t use your credit cards to buy things you don’t really want to impress people you don’t really like – that’s insanity. You should only ever borrow to buy assets, not create liabilities.

Budget ahead

A little bit of forward planning goes a long way at Christmas, and can help you to enjoy the festivities without the

January financial blues. This is a great time of year to get financially organised using my Bank Account System.

This automates your money as much as possible and takes emotion out of everyday financial decisions, giving you more control over your spending.

The system also stops you overstretching – if you can’t afford something, save a little bit of money each week until you can.

My bank account system works for everyone, whether they’re on a low or high income, and it will work for you too. Find the full details in my book, The Money Plan, or on my website, Warrenshute.com.

Boost your income

Nowadays, it’s very easy to sell things you no longer want or need. Whether its through ebay, Facebook or a phone app, there are plenty of ways to cash in on unwanted gifts from years past.

Now is the best time of year to sell stuff you don’t want to others planning their Christmas purchases.

These sites can also be great for finding bargains, too.

For more budgeting and money planning ideas, visit Warrenshute.com