As we are full swing into the festive season, it is easy to get caught up in the excitement – and overspend!
However, with a bit of planning and discipline, you can enjoy the holidays without breaking the bank. Here are a few financial tips to help you manage your finances during Christmas, the new year and beyond;
- Set a budget – determine how much you can afford to spend on gifts, food and entertainment. Stick to the budget to avoid unnecessary debt.
- Make a list (and check it twice!!) – Write down everyone you need to buy gifts for and allocate a specific amount. This will help prevent impulse purchases
- Shop early – start shopping early to avoid last minute rushes that may lead to overspending
- Use cash – paying with cash can help you stick to your budget. Once the cash is gone, you know it is time to stop sending
- Watch credit card use – ensure you can pay off the balance quickly to avoid interest charges
- Plan meals – plan meals in advance and buy ingredients in bulk to save money
- Travel smart – if planning travel for next year, book tickets early and look for deals online
- Plan for next year – start saving for next Christmas as soon as this one is over. Setting aside a small amount each month can make a big difference
If you have some downtime over the holidays, it is a great opportunity to;
- Review subscriptions – consider you monthly subscriptions and cancel those you don’t use
- Review & set financial goals – start thinking about the financial goals you wish to achieve in 2025
- Follow the money – if you are not keeping track of spending, it is difficult to make decisions, so start a budget for the new year
- Book a review – make a time to meet with FPD to take the next step to achieve a happy financial 2025 – BOOK HERE
And most importantly, from the team at FPD, wishing you a happy and safe Christmas and looking forward to a fantastic 2025.
