November and December are always expensive months because most people are going out more and buying Christmas presents.
Here’s a few things to do to ease the strain on your pocket.
#1 Start thinking of Gift ideas early
Don’t leave Christmas shopping till the last minute – stores are already competing and offering products on discount. Use comparison websites like priceme.com to compare prices and shop for the best deals. You still have time to order online and get deliveries before Christmas. Online stores have less overheads, so they can offer goods for less and still make better margin than bricks and mortar stores.
#2 Reset your budget, just for a little while
Think about your spending habits and where you spend money. No need to hibernate but perhaps pull back for 2 months on some of your eating out/going out expenses. You could always invite people over for dinner rather than go out.
#3 Set a budget
It’s easy to lose track of spending so set out on your christmas shopping mission with a budget. Put a christmas shopping list in your phone along with a total budget. Then each time you buy something on the list write the cost next to it. Keeping adding up the total to make sure you stay in budget.
#4 Cash is king
It’s easy to just keep buying stuff and putting it on the credit card but you start to lose track of just how much you’re spending. Take out the cash instead – then when it’s gone, it’s gone!
#5 Go DIY
It’s easy to simply go shopping for presents for friends and acquaintances but how about exploring some DIY presents, which are heaps cheaper and also show that you have invested time and effort in producing them. In today’s hectic world, this often means more to the recipient than a throw away gift, bought in a hurry!
#6 Change your credit card
Lots of banks are offering great deals on moving your balance to their card. You can save several % by doing this, and if you’re carrying a large credit card balance, then this can save you heaps, making Christmas less of a stretch.
If budgeting and sorting out your finances is not really your strong point then why not make it your mission for 2019 to sort out your finances, talk to one of the guys a FDG and let’s get your New Year off to a great start!