Christmas is well and truly upon us and unless you have planned, budgeted, and bought all your Christmas presents, you are probably getting a little stressed – particularly about the financial side of the silly season. Christmas and New Year’s Eve don’t just cost families an arm and a leg but singles can also find themselves splurging on unnecessary goods, so here is a quick survival guide to the silly season.
- Is it REALLY necessary?
For many people one of the best things about the silly season are all the social gatherings it comes with. But unfortunately they also come with an often unnecessary, and even unnoticed, financial pinch. Dinners and drinks can be expensive so before you commit to any events have a look at your finances and see what you can actually afford. Those extra couple of cocktails and dinners can easily add up to unnecessary debt. This also goes for that special party frock for New Year’s Eve that you will probably never wear again. Borrow a dress from a friend or dust off last year’s frock – no one will even notice you wore the same dress as last year.
- Say no to “Credit please”
While it can be very tempting to buy everyone in the family a Rolex on credit and deal with the consequences later, it’s one of the surest ways to end up needing personal debt solutions later down the track. You’ll end up spending more than just the cost of presents when you add the interest rates, not to mention the stress of having to pay for something after it has already been enjoyed.
- Get in on a secret
Secret Santa is not only a financially viable option it also takes out a lot of stress of Christmas. Don’t be embarrassed to suggest Secret Santa to your family – you’ll probably find other members who are also budgeting and are open to the idea. Secret Santa also means you can put more thought into the one gift and get the person something amazing. Just make sure you all agree on a budget for the present and then get your thinking cap on.
The holiday period is all about catching up with friends and family, eating too much food, and relaxing. Take a mini holiday with a loved one, head to the beach for a swim and a BBQ, or put your feet up and enjoy a cocktail and a good read.
Christmas can be stressful, particularly financially, so if you need help, just ask. Financial advice and debt help can be important factors in relaxing and having a good time over the silly season, so make sure you get in contact with a financial advisor if you need to.
lifeafterdebt.com.au boasts a team of professional, experienced advisors who are prepared to help you become debt free. Contact us now on 1300 237 669 or take a look at our website today for more information or to book a consultation