The Budget Advice You Need for Christmas
The Christmas holiday period is an exciting time of the year for everyone. However, it’s also the period where households can become financially stressed. Making a memorable Christmas for you and your loved ones can be quite expensive! Presents, travel costs, shopping, and large dinners all need to be planned carefully in advance so you don’t put you or your family in an uncomfortable financial situation.
We have prepared some great budgeting tips that you can plan in advance before the holidays, allowing you to have a wonderful time without breaking the bank!
Shop for Christmas presents during Black Friday
Most people shop for presents in December payday loans Johnson City Tennessee, the busiest period for retailers. While shopping during this period adds to the Christmas spirit, items are more expensive as this is the most profitable period for retail stores globally.
A great tip is to do your Christmas present shopping during Black Friday. During this period, retail stores and online shops offer massive discounts to allow for the new azon, conduct week-long periods of sales during this time. Buying expensive gifts during Black Friday – such as electronics – can save you a lot of money.
Pro Tip: Make a list of all the people and the gifts you want to purchase for them. Start looking for discounts and clearance sales for these items during October and November. It’s important to not leave gifts to the last minute – planning ahead is the key to saving money for Christmas!
Have a budget for food costs
Aside from Christmas gifts, food is the other major expense families face during the holiday season. Large dinners, parties, and appetisers for visiting relatives, means a lot of food on a regular basis! It’s important to set a budget for food costs and strictly stick to it.
Pro Tip: If you’re cooking meals for a lot of people, consider purchasing your food and drinks from wholesale distributors. Purchasing from distributors allows you to purchase food in bulk at lower costs. It’s recommended to make an order at least a month before Christmas (preferably more) so you can avoid delays or out-of-stock issues.
Don’t forget travel costs
The Christmas period is an opportunity for family, friends, and colleagues to come together and celebrate. This normally means a lot of travelling, especially if you have relatives who live far away or abroad. With overseas travel becoming cheaper, families are also looking into spending Christmas abroad.
Making sure travel costs don’t go overboard is key. If you’re travelling overseas, purchase flight tickets and hotels three to four months in advance. A good tip would be to also book popular attractions in advance.
If travelling locally, budget for gas, food, gifts, and other related costs. Travel costs can quickly add up, even if it’s a short trip, and planning ahead allows you to allocate savings to other activities and gifts.
Get a short-term loan
Christmas can undoubtedly be expensive! A great tip to help you during this period is to get a short-term loan. Short-term loans are great as they allow you to plan your Christmas holidays without worry, and the repayments are easy to make.
Our budget advice would be to make sure you set a budget before taking a short-term loan. Setting a budget allows you to borrow exactly what you need, without risking defaulting on your loan.
A short-term loan can be a great option for families and individuals who are looking into a financial boost. Christmas is a wonderful period for everyone involved, and making sure everything is planned correctly will allow you to spend more time enjoying yourself with loved ones. Plan ahead with Superloans, and you can make this Christmas the best one yet!