The Christmas season is one of my favourite times of the year, as it is for many people.
However, it is easy to get caught up with the madness of Christmas spending.
Many of us have probably over-spent around Christmas-time (or know someone who has), and financial concerns can make us feel very unjolly.
I know if I leave my Christmas shopping until the last minute, I can get caught up in the panic and spend far too much. As with most events, planning is key. Here’s some useful advice.
Set your budget
It’s important to know how much you can afford before you have spent it.
The best time to sit quietly and work out your budget is before the mad festive rush begins. It doesn’t mean you have to be tight – it just means you can sit down to your Christmas meal and not have to worry about how you can afford it. Good planning also means there is less waste, otherwise, it is all too easy to stock up the fridge and throw away unused food later.
I’m sure you’ve heard the saying “It’s not the price, it’s the thought that counts.” This is so true! It’s not the most expensive presents which are the best ones.
“It’s not the price, it’s the thought that counts” – This is so true! It’s not the most expensive presents which are the best ones
For example, I once arranged a trip for a friend to the Houses of Parliament and a tour of Big Ben. It didn’t cost me a penny. My friend loved history, and their face when they opened their gift as part of a stocking-filler was as if they had won the lottery!
Spread your spending
If you are paid early in December, it is tempting to use this income to fund your Christmas spending. But if your next pay cheque is not until the end of January, you’ll find you’ve run out of money and will have a bleak New Year. Again, this is something to budget for.
Plan for 2018
Over the festive period, after all the madness has calmed down, it is a good time to think. Look back over the past year and set resolutions for the coming year to help you move towards your financial goals.
At Monetary Solutions, we can help you achieve your goals by putting a financial plan together. So, if you have never seen an adviser (or haven’t updated your plans for a number of years) why not book our free initial consultation and see how we may be able to help you?
Meanwhile, we wish you a merry Christmas and prosperous New Year.
At Monetary Solutions Ltd, you can book a free initial consultation about any
financial matters, so please call us on 020 8655 8488.