‘Tis the season…

To avoid overspending and dampening your Christmas cheer, follow our 4 tips to keep your Christmas budget on track.

Christmas budgeting tips - Put money aside

A separate Christmas club account is a great way to put aside money for the festive season throughout the year to alleviate the pressure of coming up with hundreds of dollars out of nowhere come November/December.

Make a list and check it twice

Making a list and allocating an amount to spend on a gift per person will give you a starting point before hitting the shops. Making a list is great for other things you need like entertainment supplies such as decorations, food and drinks. Discussing what a reasonable Christmas budget looks like with your significant other is also a great way to remain accountable for your spending.

Encourage Christmas gift hacks

Secret Santas and only buying for kids, or setting a firm limit with family and friends is a great way for everyone to keep their Christmas affordable and stress free.

Shop smarter

If you’re not strapped for time you could shop for next year by lay-buying more expensive items now. Take the time to research your gifts online and search for discount coupons and codes to apply at the checkout. Try and buy a few items from the one place to avoid multiple delivery fees.

Track your spending

Using a budget calculator to keep a record of your Christmas spending will help you to keep your spending relative to your usual expenses.

Christmas shopping on credit

Buy now pay later services have become increasingly popular with consumers, and are a tempting way to pay off larger purchases. Be aware of how they work to avoid interest and late payment fees. If you’re thinking of increasing your credit limit on your credit card, consider how quickly you can pay off the extra purchases, to avoid extra Christmas debt well into the following year.

Get in touch with the friendly team at your local Horizon Bank, to discuss how to manage your money over Christmas.

Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.

The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant Product Disclosure Statement and Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.