With just under 3 weeks remaining until Santa Claus begins delivering presents, it is now more than ever that families are feeling the pinch. Preparing a budget early to save for Christmas can be one of the greatest gifts you can give yourself. The concept is simple, save a small amount of money each week throughout the year in order to ensure that you have enough money saved to cover the increase in expenses over December without breaking the bank.
In the lead up to Christmas, make a list of everything you will need to buy, including food and presents. Having a list will allow you to calculate how much you will need to spend in the upcoming weeks allowing you to budget a set amount each week.
Having a list can also help ensure that you are not tempted to purchase unnecessary items.
For the list to be a success you must complete it early and then stick to it! However try and always allow yourself some wiggle room to cover any price increases or surprise expenses.
Christmas bargains, as the name suggests, are sales that occur around Christmas time. Supermarkets and department stores love slashing prices heading into the festive season in an attempt to attract more customers. By getting in quickly you could avoid paying full price on most of the items on your list, which means spare money in your pocket. Look through catalogues and compare prices – some stores offer price matching with online stores meaning you can get the product you want at the best price without having to wait for delivery.
Keep in mind that when you take advantage of great savings, this is not an opportunity to spend the money in other places. These little bits of cash will help you kick start your savings in the New Year.
Having a ‘Christmas cupboard’ works in conjunction with the above 2 tips. If you find something that is great value mid year, buy it and put it away. Take advantage of the bargain now instead of missing out on it at a later date – remember that next time you go to buy it, it could be sold out.
Having a list also means you can start early with purchases, especially those gifts that don’t perish. By knowing exactly what you want, you can start ticking off presents early and avoid the shops when they are busiest close to the big day.
Knowing where you stand in terms of your credit rating could be a present in itself. Find out your free credit score today here; it’s fast and free with no affect on your credit file. Alternatively, if you want to know how much you could borrow, see our helpful calculators or talk to one of our friendly team at Pioneer Credit Connect on 1300 015 133.
From the team at Pioneer Credit Connect, have a save and very Merry Christmas!