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.
12:56 24 December 2014
It is that time of the year. Many people go on a shopping spree, and forget that they will have to foot the bill of everything.
It is quite easy to spend more than we can afford during Christmas- there are several tempting deals and offers, pressurizing people to buy. However, you should determine how much you can afford to spend on gifts before you start shopping.
A strict plan, a simple budget and an organised spending pattern can help shirk the risk of getting into debt. If you lose control over your spending, you will come to realise that debt is not only a crucial problem at Xmas time, but, at worst, can also happen to be a way of life.
Follow the tips presented in this series of articles to make sure you do not get into debt at the end of this holiday season.
Do it early. Make a realistic budget and stick to it. Figure out how much you can afford to spend. Do not splurge on buying gifts for everyone you know.
Stay in the present
Do not forget that you have got bills to pay. Bear in mind that your food bills, utility bills, rent, council tax and other arrears needs to be taken care of. Remind yourself of the consequences if you fail to pay them off. Yes, it is Christmas time. This does not mean that you can avoid your responsibilities. Get your priorities right and clear your debts.
If you need more money to spend, do not make use of the overdraft facility if your bank allows one. Talk to your bank authorities and get to know the deal first. Do not take the plunge, if it is expensive. Just do not think about it.