Everyday Loans for Everyday Life

 

 

Christmas is coming, get planning!

piggy bankChristmas is on the horizon and warnings are already being made to ensure that households do not start 2015 as they did this year.

Research from the Money Advice Service showed that 34% of people started the New Year in 2014 in debt after spending heavily at Christmas.

Festive spending can quickly add up and it can have a negative impact upon finances in the long term if a careful eye is not kept upon it.

A few changes to spending in the run up to Christmas could mean additional funds are available while it also enables for more effective budgeting.

Avoiding a financial hangover in the New Year is possible but it requires a little forethought, such as identifying what does and does not count as essential spending.

Seeking financial advice can also help people to get a grip on their individual situations, reducing the levels of stress they may encounter.

Planning well in advance can mean money is available for gifts and other festive fun, but there are a number of essentials to consider.

Budget

Christmas sees many households purchase a wide range of items, from presents and decorations to the turkey dinner and all the trimmings.

Setting a limit on what can be spent means finances should never be troubled too much, while it would also mean that some money would be available for any pesky mid-January bills.

Cost cutting

Little lifestyle changes in the run-up to Christmas can save the pennies and provide more disposable income to spend.

Even small changes such as taking a packed lunch to work or ditching the morning coffee can help keep pounds in your pocket for other things.

Going virtual

Christmas is a great time to take advantage of a wide variety of offers than can be found on virtually every internet shopping site.

It’s the time of year when virtually all retailers are trying to boost sales with different deals, so it’s important to hunt around for the best ones.

Keen a watchful eye out for delivery charges though, as these can negate the savings in some cases.

Thinking ahead

It might seem a long way off but continuing to save into the New Year can mean extra funds are available for the following Christmas.

Even a limited level of saving could provide that little bit of extra cash to make Christmas that extra bit special.

In some instances, considering personal loans could help cover the costs, but these should only be considered if repayments can be made on time.

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Andrew Wayland
Marketing Director at Everyday Loans
Andrew Wayland is a financial marketing expert and helped set up Everyday Loans back in 2006. Prior to his position as Head of Marketing for Everyday Loans he worked as the Head of Commercial Development for a tech start up and ran his own PR agency for around 5 years. LinkedIn: https://www.linkedin.com/in/andrew-wayland-9018074