How soon is too soon when it comes to thinking about Christmas and your finances? The answer, of course, is that it is never too soon. Save early and the cost becomes more manageable.
The squeeze is harder for some than others, with charity Barnardo's warning that some parents will skip meals so their kids get a Christmas dinner with the trimmings. But, debt advice charity StepChange is offering tips to everyone, to avoid Christmas spending leading to a financially painful new year. The best way to avoid a difficult January, it says, is to make a realistic plan before the spending begins.
Small decisions now can make a big difference later. Its tips include: Budget for Christmas in full. So, that's not just presents, a budget should include the cost of food and drink, travel, parties, presents, postage, decorations and other festive extras Spread the cost.
Don't just rely on your December paypacket. Also, make a shopping list before Black Friday on 27 November - it is only a discount if you were going to buy it anyway Book your train journey now. Advance tickets, if available, are cheaper Set spending limits.
Put a cap on the bill for Christmas socialising, and have a quiet conversation with family and friends about how much to spend on presents Stocktake before the big food shop. Check your cupboards, fridge and freezer before you go shopping and plan meals around food you already have. Make a list of what you need and compare prices.
Can you afford what you are going to buy? Can you afford the repayments if it's bought on credit? And, do you really need it?
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