As the festive period approaches many of us are finding that money is just that little bit tighter. Over the festive period Christmas expenditure is higher than at any point during the rest of the year.
There are preparations to think about, gifts to buy and yet our income is the same as it is the rest of the year.
You wonder where it all goes and how you are going to make ends meet at Christmas time. Because of this worry you may be looking at other avenues that you can explore to gain more money. Any source of financial help over the Christmas period is welcome.
If you find you are struggling the chances are you are considering taking out a payday loan.
Taking out a loan is one of the worst things you can do if you are in any sort of financial constraints. These loans have high rates of interest, and whilst you might see the benefits short term, you’ll most likely be paying for it all year.
You could end up with a bad credit rating and may need to seek payday loan help and other financial advice.
Here are 5 top tips that you can use to avoid falling into debt this Christmas, and none of them involve taking out loans of any kind.
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Set a budget for gifts
Budgeting is a great idea and will help to save a lot of money, particularly if you have a big family. Presents are the biggest expense at Christmas time, so limiting what you spend on them will save you a heap of cash.
Another idea is ‘Secret Santa’ where everyone gets one present, and everyone buys one present.
If you have a large family, this is useful and also doesn’t exclude children or people on smaller incomes.
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Everyone provides food
If you have family or friends around agree that everybody contributes something to the food.
This saves you an expensive food shop and ensures there is plenty of food to go round everyone.
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Shop around
This option may seem obvious, but it is one that is often overlooked by stressed out Christmas shoppers.
Don’t feel like you have to buy everything you need in the first store you end up. By shopping around you are making sure you find the best value for money and making the most of Christmas deals.
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Plan ahead
Planning may seem obvious but many people overlook it and find themselves in a mad last-minute dash for a turkey on Christmas Eve.
Leave yourself time. Plan everything. Make a list and stick to it.
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(Where Possible) Avoid the credit cards
Sometimes it isn’t possible to avoid using your credit card, but where possible you should definitely avoid it. Instead take advantage of credit card reward points, gift cards and other perks.
If you think you’re going to have a problem not using your credit cards you can always freeze them! This sounds bizarre, but if you pop them in an ice cream tub full of water and freeze it, you’ll suddenly find your cards are inaccessible!