The end of the year is fast approaching and many people are anticipating their holidays. However,
December is often a time of excess spending, what with holiday visitors, Christmas celebrations and the
2022 has been a challenging year, but there are ways to ensure that you don’t fall into the cycle of
Many people tend to get a little carried away during the holiday season without first putting a
sensible plan in place. It is essential to think twice about how you’ll spend your money so that you
don’t start the new year in a difficult position.
However, there are ways in which to sensibly manage your money so that you can cover your living
expenses – and still have enough to enjoy your holiday season.
Five tips to spend less this holiday season:
- Draw up a budget – this is a logical and sensible plan. A budget helps you to keep an eye on your
money so that you are aware of exactly what you have to spend.
- Manage expectations – once you’ve drawn up your budget, ensure that your family knows how
you’ve allocated money for the holidays, gifts and expenses. If this is clear right from the start,
no-one is likely to be disappointed.
- Plan ahead – purchase your essentials in bulk. This way you’ll know that these are accounted
for. In addition, after the holiday season, there are usually big clearance sales. This is a great
time to buy items that you may need in the coming year.
- Cash is king – don’t use your credit cards or store cards. If you can’t pay for it in cash, don’t buy
it. Many people max out their credit cards and store card limits over the holiday season,
resulting in a struggle to repay the debt in the upcoming months
And, if you receive a year-end bonus, use it wisely. Use some of it to pay off small debts and try to
put some of it aside instead of spending it all over the holiday season. In this way, you’ll have a
better cash flow to help you in the typically stressful new month of the year.
Speak to a consultant at One Debt today for advice.