Keeping costs under control this Christmas
Follow these ten tips to keep costs under control this Christmas:
- Take control of your spending by setting yourself a budget
Work out how much money you can realistically afford to spend this Christmas. - Know your credit card
Credit cards differ in the number of interest-free days they offer and the fees and interest rates they charge, so find these out before you go shopping. - Review your credit card limit
If you think you might reach your limit this Christmas and will have trouble paying it back, consider reducing your credit card limit now. - Avoid temptation
If you can't resist the temptation to spend more than you can afford, leave your credit card at home. - Know the full cost of what you are buying
Always check out all the fees before signing any finance deal. This includes interest and any additional fees or charges. - Use lay-by rather than credit
If you don’t have the money to pay now, ask if lay-by could be an option rather than credit. This way you don’t pay interest. - Shop around
If you don't have to use the finance or lay-by offered by a shop, you might be able to shop around for a better deal or ask for a discount. - If you're in trouble, talk to your bank
If your credit card is getting out of control, talk to your bank about options for managing your credit card debt. - Save your tax cut
If you can afford it, put aside any extra money you’re getting in the hand after the 1 October 2008 tax rate changes, to help fund your Christmas shopping and summer holiday plans. - Use the Sorted calculators
Use our budget, credit card and hire purchase calculators to help keep costs under control this Christmas.
Published 17 November 2008
User comments Christmas club savings
For Christmas savings for groceries and presents, I use a fortnightly direct debit into an online account. Rabobank pays the same high interest on every dollar, no conditions like many accounts. Interest earned , no fees paid. Depending on the supermarket you use, I buy Xmas club vouchers in Oct/Nov to get the 5% discount I buy about $800 worth which covers all December and into January. These purchases are put on the credit card to get the credit card reward points, but balance is always paid off on the due date, no interest paid.
Posted at 11:16 am on July 24, 2010 Secret Santas
Most office parties have 'secret santas' where people buy little gifts for their colleagues. This year our office is going to this but instead of buying one more needless gift, we are going to do a 'swap' party, where you have to 'regift' something you already have at home but have no use for but which someone else might need. No one is allowed to go out and buy something. We're saving and we're being environmentally friendly!
Posted at 05:54 pm on November 26, 2008 help with sorting out my bills and keeping on track
It's great that you are helping us with sorting out our lives basically. Thanks
Posted at 09:46 am on November 26, 2008 How about making your own gifts!
Surely one of the best ways to keep costs down this Christmas is to make your own gifts. In these days of rampant consumerism it is really nice to receive something that someone has spent time and effort on making. It also gives the gift giver much more satisfaction. It's amazing what treasures you can make from recycled stuff, or how well received home baking can be. So why not get some craft books or recipe books out of your local library and give it a go!
Posted at 06:17 pm on November 20, 2008 - Top 5 calculators
She's gotta have it!
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