IT’S THE ‘C’ WORD, AND I’M USING IT FIRST!
Christmas that is! It comes only once a year but surprisingly few people are prepared financially.
The last minute stress of getting just the right present, having enough food, drink and crackers can be enough to leave us all in a New Year hangover.
Not to mention the cost. Last minute impulse buying is the most expensive and if you are relying on your credit card to carry you through then also be prepared for the hit of “Buy now and pay later.”
Ok, so it’s October and only 9-10 weeks until Christmas but there is still time to get organised.
Ideally you would have a Christmas account as part of your Annual Budget (see our Toucan Budget HERE) and each pay cycle you would have put aside an amount so you already had the money to spend. So we can adapt and use the same principle over a shorter time.
Christmas 2019
Make a list of all presents and expenses you think you will have:
• Once you have your list complete, add it up, then divide it by the number of pay cycles until Christmas. This will be the amount you will need to set aside to cover your list.
• Be realistic about who and what you will buy. Often older people would prefer an experience or maybe even having some gardening done, wood chopped or help with their computer/technology – Giving doesn’t have to involve money.
• include your kids in this and if they have friends and school teachers that you will get a Kris Kringle for then they can use the same system with their pocket money to budget.
• If I’m not sure what someone might want then a voucher is always a good idea. No point buying something they wont use.
If you found this article was helpful be sure to send it to a friend to everyone starts to get organised for CHRISTMAS!
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