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Top Tips for Minimising the Financial Impact of Christmas
1. Write a letter to Santa
"Dear Santa, I'm writing to tell you what I want for Christmas. I've been very good all year and I deserve ...."
Now describe your perfect Christmas holiday, who is there, what are you doing, what did you have for dinner, what presents did you get, what did you give. How much did it cost you, how you feel in January having had the perfect Christmas and still having money left over?
2. Making a list and check it twice
I am sure you have often heard that if you go to the supermarket with a prepared list you will buy less, spend less and get more of what you really wanted than if don't prepare a list. It's the same for Christmas. Write a list and stick to it. Of course this is only useful if you also
3. Stay within your budget
First you have to know what your budget is!
Christmas is only one day. The holiday period is 10 days to 2 weeks. But I recommend that your Christmas budget covers 1st November to 31st January, a full three-month period.
Write it out, how much you have coming in, how much your normal household bills are, the bills that will be due in January and THEN, what you plan to spend for Christmas divided into presents, food, entertaining/socialising etc. Then commit to stick to it, forget about it and have fun.
4. All things bright and beautiful
"Advertising may be described as the science of arresting the human intelligence long enough to get money from it."
Unknown
Get between you and the advertising. Make your own plans for your money first. When you have a plan, it's like there is a bubble of protection between you and outside pressure, especially between you and advertising.
It's like someone turns the sound down and you can hear your own voice of common sense above the Christmas Bells, above the advertising jingles and above the clamour of your own emotions.
5. Give yourself the gift of a course in managing your finances.
At the risk of appearing to join those that want to separate you from your hard-earned cash, I strongly encourage you to begin planning for your next Christmas now.
Right now if you are deep in a difficult financial situation without a plan, commit to making this the last year you feel overwhelmed by external pressures on your finances. Buy yourself something, a book, a programme, a financial coaching course, buy anything, but do something now.
Merry Christmas AND a Happy New Year.
