It’s October! Whilst this means that we are still 3 months away from Christmas, it does also mean that many people are only a potential 2 or 3 paydays away from the big day. It doesn’t sound so far away now does it? This is the exact reason why many people have already started their Christmas shopping.
It’s really easy to blow all your money over the festive period. It might seem like a good idea at the time to buy everyone expensive presents, but you’ll definitely be regretting it when January rolls around.
Follow our top tips on being careful with your money and avoid that dreaded feeling when you open your bank statement after Christmas.
Plan Early & Write a List
You should write a list of all the people that you are planning on buying presents for, so then you can decide on a budget for each person. You should probably decide on an overall amount that you plan to spend on Christmas presents, so that you’re not tempted to spend more than this.
Got brother and sisters? Put money together to buy presents. This often means you can buy them something more expensive whilst actually saving money.
Don’t Forget Your Regular Bills
Life doesn’t stop because it’s Christmas. You still need to remember to have enough money in your bank to cover your monthly bills – rent, mortgage, utility, phone bills etc. You should make sure that these are a priority over spending money on anything else.
Pay Upfront as Much as Possible
If you have the money available to pay for your goods upfront, it’s always best to do so. There is no point taking out credit agreements for stuff that you can quickly and easily pay by cash or debit card. It might seem like you’re saving money to begin with but you will soon regret it when you come to paying it off.
Stay on Top of Any Payments Made
If you do end up taking out any type of credit, make a note of what you have spent and when repayments are due. It’s easy to forget to make payments and this can run up a huge debt in your name. Make sure you pay on time – even if it’s just the minimum payment.
If you would to speak to a professional about your finances or if you need some advice about getting out of debt – we can help.
At Debt Advisory Services (Scotland) we provide a service that offers debt help in Scotland. We have an expert team that can help you come up the best solution for your individual situation.
For more information, please give us a call on 0800 011 2322 and a member of our team will be happy to make you an appointment.