Being financially savvy through Christmas

Buying presents, going to Christmas functions, enjoying the beautiful summer weather – it all adds up. And, by the time you’re back at work in early January, you’re wondering where all your money went?

Thankfully, it doesn’t have to be like that. By following these tips, you can create a budget that works for you and won’t leave you in a puddle of debt.

  • Know your money 
    Use a card with every purchase and track your spending. Cash is easy to over spend or even misplace.
    There are also some amazing apps that’ll break down your spending to the cent!
    https://www.forbes.com/sites/samanthasharf/2016/03/02/12-free-apps-to-track-your-spending-and-how-to-pick-the-best-one-for-you/#79e1ec975445
    By taking note of where your money’s going, you’ll being able to understand your spending and less will come out of your account.
  • Have separate accounts
    Transferring money into an everyday account is a really easy way to budget.
    We recommend breaking down your daily limit, and then only topping up if necessary.
    Having a term deposit is also a great idea because it incentivises saving and deters withdrawals due to the high fees.
  • Check out the sales
    If you’re early, you can usually find some big savings through spring. It’s also much easier to budget if you’re buying presents in advance.
    The Boxing Day sales are also a great money saver – as long as the kids are cool with getting their presents the day after.
  • Don’t go into debt
    Don’t buy anything you can’t afford; it’s as simple as that.
    Making purchases on credit cards is fine, as long as you can afford to pay it back.
  • Op Shops
    They’re often an untapped resource that seems to get an influx of donations in the lead up to Christmas.
    Shop around and go in with an open mind; someone’s trash is definitely another’s treasure.
  • Create an offset account
    If you’ve got a mortgage, an offset account can save you a lot on interest. At FINANCIA, we are more than happy to speak to you about all the options available.

For more information – and more great tips just like this – head over to our Facebook page, or arrange a consultation. Have a great Christmas!

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