Celebrate this Christmas without any financial pain

Christmas and New Year celebrations are here again! Is a time in which many people visit different stores buying all sort of items for their household perhaps gifts or presents even for friends and family which you cannot just resist. Which means another time for spending, it is also important to make sure you don’t spend your hard earn money unaccounted for. You want a memorable Christmas but do not want the pain of “financial holiday “hangover” afterwards?  Taking to the advice below before and during this festive period can help you stay out of debt come after the season.

Firstly, budgeting, if you have not budgeted for the celebration, you may be in for quite a shock when you calculate all your expenses and find out you have spent more than you intended before the New Year. That is the reason you have to make up your mind not to be in debt this season and keep to your budget, know whom you are buying for and consistently check that you are keeping to the amount you have set and you will be well on your way to preventing debt this Christmas.

You also need to make a list of those you are giving gift for Xmas. This might be in-laws, cousins, uncles, neighbor, and colleagues in your work place and what have you. Doing this will helps you to know whom you’re buying presents for so that you can budget accordingly and there are no nasty surprises when you forget someone.

Also try and make some homemade gifts too to cut cost this season, your budget might be tight and there are more people to buy presents for than you can afford, this is the best option for you.

It is possible for you to make hamper for a whole family unit rather than buying individual gifts. You could also buy some products in bulk from retail stores and divide them up to make individual gifts wrapped in cellophane and tied with ribbon. Homemade gifts may be cheap to make, but if you take some care with the presentation they can look awesome and be very gratefully received.

Agree with friends and family on the amount you will spend on individual gifts: In the current financial climate, there is no shame in budgeting to ensure that you are in control of your finances. Some family and friends may even be stressing as much as you are and discussing how much will be spent on individual gifts can provide some much needed relief.

In some families, individual’s names are placed in a basket and picked at random, so you are only obliged to buy a present for the person whose name you pull from the basket. Obviously this could only work for the adults or older children, but it is definitely a way to save money at Christmas, especially if you have a large family.

Finally, always say the truth about your personal finance status, don’t be afraid to let family members know you are trying to get out of debt and therefore you are limited as to presents you are able to buy this Christmas. They will support and respect you for that. There is no shame in admitting that you have to be careful with your finances.

TIAMIYU ADIO ISMAIL