Plan now to get the most out of Christmas
While it may seem like a long way off, now is the perfect time to plan for the festive season. Along with the good times, Christmas can also bring financial stress as holiday costs build and credit card bills mount up. This time, make sure you start the New Year on the right foot, and not with a mountain of Christmas debt.
A little forward planning will help you keep expenses under control.
Talk to those you’re sharing Christmas Day with. Having a clear idea of family numbers, commitments and expectations early on means you can plan your day in a way that keeps everyone happy – including you!
Will you be having a big traditional Christmas roast or a casual family barbeque at the beach? If you are hosting, invite your guests to contribute something to the meal. People love bringing their special dish and it’s a great way to share costs. By thinking about the Christmas meal now, you might even start to stock up on the non-perishable items you will need – helping to spread the cost before the Christmas rush.
If you’re planning a holiday away, get your accommodation and travel organised now. Many campsites, ferries and holiday homes are secured months in advance, so booking early gives you greater choice of price options. You will also have the benefit of knowing exactly how much it will cost.
When it comes to presents, it’s important to think about how much you can afford. Being generous with gifts does not always mean spending a lot – but it may require more thought. You might decide that only the children will receive presents this year or that your family will have a “secret Santa” draw for present buying. Having a rule about home-made or recycled gifts can be a great relief for family members who are pressed for cash.
Of course, not all gifts cost money – your present might be an offer of help with gardening or babysitting. And if you know your children are after something specific, keep an eye out for specials between now and Christmas.
Once you know what’s on the cards this Christmas, figure out how much money you will need and start saving up now. The goal machine calculator on sorted.org.nz will help you work out how much you need to save each pay to get there.
You could also use Sorted’s budget calculator to see exactly where your day-to-day money is going and whether you can trim expenses in certain areas, to put towards Christmas savings instead. You might be surprised how saving even a small amount each week can make a difference. For example, choosing not to buy lunch each day could save around $40 a week – adding up to more than $500 by Christmas.
There’s plenty of time to get yourself on the right track if you start today. The sooner you make a plan and start saving, the more likely it is that you and your family will enjoy a great summer together, without blowing the budget.
