The festive season is definitely upon us. We are all looking forward to enjoying some rest and relaxation, as well as the opportunity to catch up with family and friends. Many of us will inevitably end up spending more than we intended to over the festive season. So, here are some tips to help you to control your spending whilst you enjoy the holidays (Tips provided by Success Resources and The Guardian)
If you haven’t already started, set aside some time today and work out how much money you plan to spend over the festive season. Next, list out everything you want to buy and don’t forget to include special family dinners and travel plans. More importantly, stick to your plan!
It's not just the cost of presents you need to factor into your budget, but that of party clothes, festive decorations, going out more and even tips. Once you've worked out how much you have to spend in total you can allocate it to these different items.
Instead of just wandering around the shops looking for inspiration, work out how you want to spend your budget, and what you want to buy for each person - otherwise it could be difficult not to be tempted by some of the items on display. Buy only things that are on your list and keep all receipts together in a safe place. This way if you do slip up and make an impulse purchase you can return the item and get your money back.
As you search for that perfect gift, try to find the best deal on that item. But if you come across a gift shop that promotes holiday “deals”, you might be tempted to buy more items than you need just because they are available at discounted rates. Be mindful of your budget and decide if that something extra is necessary and worthy of your purchase.
People are always touched by the fact that you put time and effort to do something nice for them. Instead of exceeding your budget on expensive gifts, why not be creative and give your friends something handmade? You could design bookmarks, bake biscuits or simply invite them over for a delicious homemade dinner.
At the height of the shopping season, many of us tend to be carried away easily with our purchases, especially for credit card owners. Wherever possible, pay for everything by cash instead of credit card. This will help you avoid all the fees and interests that are charged to your card – and avoid the surprise of finding out that you actually spent more than you should have when your credit statement comes in.
Nice cards are quite expensive these days. If you celebrate Christmas and are planning to send cards, why not send e-Christmas cards instead? They're free of charge and more eco-friendly.
Instead of buying everyone dinner, suggest a potluck meal where everyone is encouraged to bring a dish. Not only will it be an enjoyable time that everyone can remember, it will also save you from having to cover the expenses of a multi course meal all by yourself!
IQ Academy would like to wish you all a wonderful holiday and peace, happiness and success in 2017.
Authors: Laura Howard (The Guardian) and author unknown (Success Resources)
Editors: Kim Elliott and Thembakazi Yamiso
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