How To Deal With Festive Overspending

Festive Overspending: What is it?

Christmas marks that time of the year when we get together with our families and loved ones to give them something to show our love and affection for them as well as spending some quality time with them.

We want this time to be special and memorable and so we feel the need to invest our resources to celebrate it.

Festive Overspending: What is it? But what if you spend much

more than you intended to?

Well, if you know that you have enough funds to make up for this overspending, then bravo, you have nothing to worry about!

It’s when you don’t have the funds to make up for overspending that’s when money troubles can surface, sometimes causing distress that could stretch for the months to come.

Preventing Festive Overspending As the adage goes,

prevention is indeed better than the cure, especially when it comes to spending money.

If you can figure out what you can spend your money on – and what you truly can’t, then you can make your purchases with a clear idea in your minds as to how much you can really afford.

Read on for some handy tips that we have for you here to help you manage your spending for this and every festive season!

1 Remind yourself what Christmas is really about!Is it about how pricey your presents are or

how valuable they could be to the recipients?

It’s more about looking at how you can give presents to those who matter the most to you without you going out of pocket.

It’s about being meaningful and not having to experience resentment as an aftertaste.

It’s about celebrating Christmas and ushering the New Year without having to go in the red!

2 Make Christmas Lists! Do you make a list of all the

presents that you are going to buy?

If you do, then we think it’s a step in the right direction, as it’s always good to put such details on paper (or on a digital screen) so that it’s there in front of you and you can filter out what you need to buy with what would be nice to have.

Better still, you could have a choice of two presents for each person on your list – if A isn’t available, or costs more than you had expected, then could B be the back-up option?

3 Set a Christmas shopping goal – and stick to it!

Have a goal and stick to it when you go out shopping. While this may seem hard to begin with, if you can stick to what you need to buy and what you don’t need to buy, you should be able to curb your overspending behaviours.

You could check out the prices on the internet before you reach for your wallet/ purse.

If the price suits your budget – great, if not, there’s Option B that you could look to from your Christmas shopping list.

4 Use your credit card wisely!

If you are planning to use your credit card for your Christmas shopping, check to see if you are able to pay bills that are going to be due on time and in full.

This is because if you only pay off the minimum balances on a monthly basis, then you could be accruing interest charges on top of your credit amounts due.

Remember, being late or missing a payment due date could affect your credit score.

Check your credit score and credit report today at

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.co.uk !