Top tips for a debt free Christmas

With less than 100 days until Christmas and department stores beginning to make space for festive lights and decorations, it is now a good time to plan ahead to ensure you start next year without a mountain of Christmas debt.

We’ve compiled a few tips to ensure you stay debt free this Christmas:

  1. Work out what you can afford – it sounds simple but look at your finances and determine how much you can afford BEFORE you start spending.
  2. Start saving early – if you can start saving a little each month, you’ll avoid having to rely on your December salary to pay for everything.
  3. Plan ahead – write down a list of the gifts you have to buy and work out how much you can afford to spend on each.  Perhaps agree a fixed budget with some of your friends or family.
  4. Avoid panic buying – if you have a large number of gifts to buy, why not start buying early so you don’t leave everything to the last minute and be panicked into buying things you can’t afford.
  5. Leave the credit card at home – try shopping with cash so you’re not tempted to buy more expensive gifts that you’ll have to pay for later when the credit card bill comes in.

Christmas can put a strain on the family budget so make sure you stick to what you can afford.  However, if you do find yourself in debt, talk to us, we may be able to help.

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