Cashflow planning

Well, the holiday period is over for most and it’s back to school. While thinking about what topics are seasonal, Christmas came to mind. My initial reaction was it’s far too early to start thinking about that, but after spending a little time researching it, I decided my views were different to others. In fact it has been reported that Selfridges opened its Christmas Store in Oxford Street on Monday the 29th July. I was quite shocked, but apparently it was only 2 days earlier than last year. *1

After one major chain went under it was remarked that the only time it made a profit was at Christmas.  The reason for the store going under was that it didn’t do so that year. Whether this is true or not I am sure that most, if not all of us, would agree that we spend more at Christmas than at any other time of the year. I have to say I am always amazed at the madness in the shops.

But is the high street shop also a thing of the past?
According to another source, 87% of retail goods (not including food) are now bought online, with us using laptops in the evening, smartphones and tablets during the day. *2

Having said that it has been reported that last Black Friday Argos had over a million customers visit the store. Even so 71% of customers visited via a mobile device. *3

So what would my advice be?

Well, before all the hype of Christmas begins, plan whom you are going to buy for and set yourself a budget. Make use of things like Black Friday, which has come over from the states and is always the Friday that follows Thanksgiving, when many great offers can be found.

Over the years as a Financial Adviser I have noticed that the clients who budget and know how much they are spending seem to have a lot more to show for their money.  If you do want some help with this you may find that Cashflow Planning can really help.

If you haven’t heard about Cashflow Planning please utilise our free without obligation consultation. We can run through this with you and show you the virtues.  Contact us now to book your session.

*1Independent, 29th July 2019
*2 Ecommerce News, 7th September 2018
*3 Telegraph, 12th September 2019

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