Avoiding Debt this Christmas
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Christmas is only a few weeks away now, and if you haven’t really started thinking about buying gifts yet, you might be starting to panic slightly.
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It can feel like there is a lot to do, with present shopping, decorating and other preparations and not much time to do it all. You are probably also worried about the expense. Presents aren’t cheap, nor are decorations, festive food, and drink, nights out with friends and special trips. 33% of us expect to spend over $1000 on gifts alone. Even if you are spending significantly less, all added up many of us will spend that much on Christmas and its related activities.
The main reason that so many of us spend so much money is that we don’t realize how much we are spending. We shop with no kind of plan, without thinking about what we’ve already bought or how much we have spent so far. The costs add up, and January is difficult.
Creating a budget and a plan before you start helps you to avoid overspending and to control your finances. If you are dealing with any debt right now, the worst thing that you could do is get into further debt to afford Christmas. The best thing that you can do here is to look at loan calculators and see whether you can consolidate the debt that you do have. Your budget for Christmas should include any loans that you are paying back, as these really do take priority over the holiday season. Write lists of what you’ve got to do, and the Christmas presents that you need to buy. Create a budget of how much you can afford, and stick to it by shopping around for the best prices.
Use an App to Save
Apps are a great way to save a little extra money without putting yourself under extra pressure, or really needing to do anything different. They do all of the work for you and only save what you can afford. Read https://budgetboost.co/best-money-saving-apps/ for a look at some of the best savings apps to help you.
Find a Side Hustle
With potentially only one payday left, too close to Christmas to help much, it can be hard to find any extra cash. So, why not find ways to earn extra. This is especially useful if you need money quickly and you can’t save much from your salary.
Think about your talents and skills. Could you make extra by taking on some freelance gigs? Check out sites like Upwork for some options. Other side hustles that could make you a little extra include taking online surveys and taking part in market research projects, selling old and unwanted stuff, testing websites and apps. Offline, you could make cash babysitting, dog walking or even wrapping Christmas presents and writing cards.
Homemade Gifts
If you can’t see a way to save or earn extra money before Christmas, and there’s not much room in your budget for shopping, why not make gifts? Homemade gifts are a wonderful way to show people how much they mean to you, and they don’t need to be perfect to be loved. Homemade jams, biscuits, and truffles are all great options that you can make now, and freeze until you need them. Check out https://www.iheartnaptime.net/homemade-gifts/ for some more homemade gift ideas.
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