12 Essential Tips For Budgeting Over The Holidays

anthony-bell

Anthony Bell

Finance Expert

Christmas shopping time can be dangerous, you can over spend without even realising. Financial expert, Anthony Bell shares 12 of his top tips to budgeting over this Christmas holiday.

budgeting-christmasimage via pinterest

1. Actually do a budget

We all know the benefits of having a budget but the hard part is actually doing it. There’s no doubt that the mere process of completing a budget will prepare you well and ultimately save you money.

2. Kris Kringle

Many families rather give a gift to all family members draw a name out of the hat and give to just that person/couple, even if it this applies just to adults and the kids still receive from everyone. This is a big time and money saver.

3. Limit on spending for presents

Have an agreed cap in the amount that each of the family members will spend on Christmas.

4. Monitor your spend and watch the use of credit cards

Having prepared a budget, monitor your progress as you go. It’s too late if you find out when that weighty credit card bill comes in the new year. Better still, save up and spend just from savings rather than on credit cards. Pressing “cheque or savings” rather than “credit” on the eftpos machine brings a reality to your spending and avoids a huge post Christmas credit crunch.

5. Consider boxing day/post Christmas sales

An increasing trend is to provide a “promise” card so you buy the gift in the post Christmas sales when often huge savings can be made.

6. Make a donation to a tax deductible charity

Instead of a material gift, consider making a donation to a charity. If they’re a “deductible gift recipient” you’ll get a tax deduction for the amount you donate.

7. Christmas hampers

Many swear by Christmas hampers as a great way of carefully planning for what you’ll need and saving money along the way.

8. Buy presents during the year when they’re on special

The savvy present buyers start thinking about Christmas the moment the last one’s over. This gives you the chance either in the post Christmas sales or indeed anytime throughout the year to get a bargain. If you can be this disciplined, you really can make a huge difference to your total spend.

9. Don’t get carried away

It is so easy to get caught up in the emotion of the season, particularly with all the Christmas marketing campaigns initiated by retailers. This is where having a budget becomes important if you’re susceptible to impulse buying.

10. Alcohol limitation

I don’t want to seem like the fun police, but it’s often the endless Christmas events that can really hurt you financially. If enjoying a drink is your thing, that’s your choice, but often people get into financial grief when they go overboard at every event or excuse for a Christmas drink. Which leads to my next point…

11. Use public transport not taxis

Where you can and you can travel safely, consider public transport. Depending on where you live it’s often taxi fares that can really mount up if you’re a party animal at this time of year.

12. It’s the thought that counts

Lastly, it might sound trite but it really is the thought that counts. People will not judge you on the amount you spend on gifts, rather the thought that is put into them. Some of the best gifts can be a homemade card or a gift you have put together yourself, rather than the “easy” more expensive option.

 

Contact Bell Partners for specific advice. www.bellpartners.com

Like what you read? Subscribe to our free newsletter for exclusive content and special offers

Related





  • Insta: Follow @rescu.com.au

    • Tuesday night looks brought to you by @bobbibrownaustralia #smokeyeye #redlips
    • Oh what a feeling! #getoverit
    • My friend Stephanie Darling wrote a beauty book. It's amazing. Read our interview and her money can't buy expert tips on the site. Thank us later. 💅🏽💄#secretsofabeautyqueen
    • School's out! ❄️ Next time we'll bring gloves and ear muffs..#mummyandme
    • Friday night date with my honey is the perfect excuse to call in @luxit_official glam squad 😍
    • Just another super model and me 😜 @elysetaylor is the ultimate modern day siren.  @nudebynature launch today. Seriously though... #girlcrush
    • Be you 💋
    • And that's a wrap! Perfect shoot for our inspirational women series in partnership with @wedgwoodau @weddedwonderland @jo.casamento @mon_purse @danniellemiller #verawang Tap for details ❤️
    • The golden hour.. Well actually 15 mins or so 😂 before Lilly is awake and I have me time. Currently obsessed with Creed fragrances.

  • Get your dose of fabulous delivered to your inbox.

    Sign up for Rescu's newsletter to get updates on top stories, horoscopes, trending videos, and inspirational content.

    SUBSCRIBE NOW!

    Get fashion, beauty, finance, health and love advice from our experts.

    Rescu is an online fashion, beauty and premium lifestyle site. Whether you are looking for fashion, beauty, finance, health and love advice you will find a wealth of information from our resident experts. We publish new content daily so don’t be left behind. Log on daily for the latest fashion, beauty and celebrity news as it happens. Subscribe to our newsletter and enter our contests to win fantastic freebies.