Avoid a Financial Hangover This Christmas
The average Christmas spend per household is around £800, leaving many of us facing a hefty bill in January. However, there are steps you can take that will help soften the blow in the New Year.
It might seem obvious, but setting a budget really is important. Make a list of who you’re buying presents for, allocate an amount for each person and stick to it. If you’re hosting Christmas dinner, work out what you’ll need to spend on food and drink too. Don’t forget to factor in extras like decorations, travel and clothes, but remember to spend only what you have saved or can afford to pay back before next Christmas.
Shop around for the best deal. Often you can grab a great bargain online, but stay sensible around the pre-Christmas sales and don’t get tempted into buying things you don’t need.
Think of places you can make savings too. Agree with friends and family not to buy unnecessary gifts, and why not send Christmas e-cards instead of the paper kind?
If you’ve built up a Christmas fund, transfer the amount into a savings account. At CLEVR, we have a Christmas saver account so you can make sure your money is there when you need it. Remember, too, that January can be a long month so make sure you’ve set aside enough cash to see you through.