10 Tips To Avoid Christmas Debt And January Blues

Money Tips Daily by Charles Kelly, former IFA and author of

10 Tips To Avoid Christmas Debt And January Blues

The silly season is upon us…rushing around spending money we don’t have buying things people don’t want and listening to the same old Christmas songs!

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Christmas might be a time for giving, but that doesn’t mean you have to give yourself a headache in the New Year with bills and debts you can’t afford. Millions of people max out their credit cards in December only to wake up with a financial hangover in January.

It’s so easy to overspend and fall for those tempting offers and feel pressured to buy, but youmust decide how much you can afford before you start shopping.

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10 tips to avoid Christmas Debt And January Blues.

1. Set a budget and stick to it! Don’t overspend.

2. Plan your purchases early to avoid panic buying.

3. Shop around for deals, especially for food and drinks.

4. Look for discount codes and offers.

5. Check out interest free deals and 0% cards.

6. Pay off credit card debt as soon as possible.

7. If you can, hold off large purchases until the post-Christmas sales.

8. Discuss holding a ‘gift buying truce’ with your extended family and friends (NOT your partner and kids!). They will probably be relieved!

9. Limit gifts to a maximum price, have fun with a secret Santa or agree charity donations.

10. Never neglect household bills to spend on Christmas.

Watch out for Black Friday “deals”….do you really need that gadget?

Not everyone celebrates or even looks forward to Christmas, which is okay.

Finally, you can enjoy a simple holiday season without getting into debt. It’s all about mindset, planning and communication. Christmas is not just about buying presents.

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

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