Many people are worried about covering the cost of Christmas – especially on a tight budget.
And carrying your Christmas debt into the new year, is a nightmare.
According to ConsumerHelp, leaving your credit card at home also helps avoid creating unnecessary debts.
Credit card debt can be very expensive if you can’t repay it in full immediately or within a few months.
The institution said when you are spending the cash in your pocket or in your bank account, you will be much less likely to overspend than if you pay with a credit card.
ConsumerHelp advises you to:
• Budget a reasonable amount to spend on each person you are buying for
• List everything that you intend to buy
• Keep track of your spending.
• Avoid shopping at the last minute
• Arrange to go shopping when it is quieter
If there is a special item that you really want to give to someone, consider splitting the cost with a friend or relative, and keep an eye out for coupons or deals on gifts wherever you can.
ConsumerHelp also advised people to do their research and if they have a present in mind, shop around and compare prices, both in store and online, keeping your eye out for discounts and promotional offers.
And also in the run up to Christmas, personal loans and in-store credit may look like attractive options, especially for larger purchases like PCs, electrical equipment or furniture, where stores may offer you zero per cent finance for a period of time.
Be realistic with your food shopping because it can be easy to buy more than you need, but bear in mind that most shops are only closed on Christmas Day and New Year’s Day, so there’s no need to go overboard.
Related article:
·
