I don’t know about you but I love this time of year!
Sure the Christmas carols playing on repeat can get old and finding a car park at the shops is almost impossible but the gift giving, binge eating and time with family make up for all any negative.
There is one major part of Christmas that a lot of people struggle with and that is, how to stay on track for their budget during the festive season so I thought I would share my top 3 tips.
Make a list, and check it twice
Just like the big man, I write a list of who I need to buy for and what my budget is for each person. This might sound simple (because it is) but you would be surprised how easy it is to blow a budget if you haven’t pre planned. It can also avoid those $5 over here and $20 over there which lets be honest, when your family is as large as mine… all adds up.
Cash in your points
You would be surprised at how much you can save if you cash in award points. Last year I cashed in all my Flybuys points which covered almost a whole grocery shop. This meant that I could put that extra cash towards Christmas gifts without having to dip into any savings.
I’m also a big fan of award points on my Credit card, it allows me to use award points instead of cash at places like Myer… a lot of gifts were purchased at Myer last year and that saved so much money. So take a look at your credit card, maybe it has a ‘cash back offer’ or maybe you have some Flybuys points you can cash in to lighten the load.
Prior Preparation prevents piss poor performance
I’m not sure if that’s the exact wording of the saying but whatever it is, it’s true!
When you are planning out your annual budget make sure you put (enough) money in there for Christmas gifts. This will mean that rather than have a large sum of money you have to come up with at the end of the year, you will have put a little bit aside each pay to cover the presents at Christmas.
Now I know you’re probably thinking ‘how does this help me now, its almost Christmas!’ and the truth is, it wont. But it will help you next year (and the year after) so you never fall short again.
The mere word Budget can be a swear word for some people but the truth is, if you have a budget you have more control over your money. This means there’s no stress and trying to make ends meet.
If you don’t have a budget then make sure you check out The Money Magnet, it’s an online course which will take you through why you need a budget, how to set a budget and, most importantly, how to stick to your budget.
If you would like to know more about budgeting and The Money Magnet then check it out here.
If you would like to get into your first home in 2021 them make sure you check out The First Home Buyers Program here.