More Top Tips to Stay Financially Healthy During Christmas
Christmas is a time for gifts, but you need not have to put your financial health in jeopardy in the aftermath.
12:59 24 December 2014
Avoid Credit Cards
Pay for your gifts by cash or debit cards. Do not go for credit cards and take out monthly instalments unless you know they’ll work out cheaper for you.
Shop Around for better prices and deals
Granted, there are a lot of deals and offers going on. But do what you can to make sure you buy things cheaply. Shop around, and try as many places as possible until you find one that gives you the best price. As they say, repair costs could be less than warranty costs. So, be aware of extended warranties.
Deal with Reliable Names
Whatever the offer, whatever the deal, do not buy from sellers you do not know or cannot trust. That said, do not borrow money from unauthorised lenders. Take your time to scruitnise what the lender has to offer, so you do not rue your decision later.
Handle Credit Safely
Read the small print thoroughly. Do not omit anything. Figure out the total amount that you are supposed to pay, and make sure that whatever monthly instalments payable are within your means. O% credit card may seem attractive at first, but if for some reason you miss a payment or do not pay on time, you could end up paying a lot more than required.
Know what you owe
There is a lot to keep track of during Christmas. If you have borrowed money from someone, do not forget that it will not be long before you have to repay. Make your repayments in a timely manner, even if it is the bare minimum. Otherwise, you will have to pay late fee or additional charges.
Once the holidays are over, look at what you did and what you did not. Some things would have gone well, while others would have gone awry. Ask yourself what you could have done differently, and start planning for the next year. If possible, start saving money, little by little, for the next holiday season. You’ll do better next time.