Does the festive season have you worried about going off track?
We’ve got you covered! The key is to have a plan to curb excessive spending and keeping your savings goals on track.
Here’s what we recommend to avoid over spending this season:
- Plan ahead your list of gifts. If you’re yet to go shopping for presents, write a list before you head to the shops. Without a plan, you might find yourself put on the spot and spending more than necessary.
- Budget for food and drinks over the festive period. Presents aren’t the only thing you should plan for. Go into the supermarket with a plan and a budget. No, you probably don’t need those extra fruit mince pies.
- Be honest and open with family and friends about how much you can spend. You would be surprised at how many people are open to more cost-effective gifting ideas such as secret santa.
- Say ‘no’ more often to catch ups and events this time of year if they conflict with your money goals. Suggest nights in, picnics or walks with people who want to catch up.
- Avoid gifts on Afterpay or ZIP Pay. Your family and friends definitely don’t want you to go into debt for them. Thoughtful gifts don’t have to be expensive ones.
- Do a clean out. If you’ve got some down time over the next few weeks, it’s time to clean out the things you’ve been meaning to all year. Many people are scrolling Facebook Marketplace and Gumtree for all sorts of things this time of year.
- Beware of the Boxing day sales. Avoid buying things just because they are on sale. However, if there are some necessities you have been meaning to buy but have been waiting for a deal, then go ahead. That is the only exception.
- Lastly, don’t forget your money goals. You want to make sure you aren’t setting yourself back this silly season from your bigger life goals.