AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- The economy has a substantial pent-up demand due to limited celebrations in 2020.
- But it is important not to get carried away this time, resulting in increased expenses.
- The article discusses a few money-saving ideas which can help during preparations of festivities.
After limited celebrations in 2020, people must be looking forward to making this year’s Christmas special. But it is easy to get carried away this time, resulting in increased expenses at a time when incomes are under stress. So, it’s best to keep costs down by employing savvy shopping tips and prioritising purchases.
Here we discuss five money-saving ideas for this Christmas season which can help you during preparations of festivities.
Prepare a budget and stick to it
People may be highly excited this time since last year’s Christmas celebrations remained muted on account of COVID-19 pandemic-induced restrictions. This may actually result in some splurging more than they can afford, ultimately leading to more financial stress in the ongoing uncertain times. Experts advise to judiciously prepare a budget.
You can assign a particular budget to each item and also do away with some unnecessary expenses. No pressure should derail you from following the pre-planned allocation. You are also advised to not get caught up in the excitement of grabbing a deal just to end up overspending.
Stock up some items in advance
In order to get saved from escalating prices in the days nearing Christmas, it is always advised to stock up some of the items in advance. You can at least stock up non-perishable items in the run up to the big day. This can also save you from people’s rush in shops in the days ahead of Christmas. However, you should ensure that you check use-by dates so that your efforts are not wasted.
Gifts and unused household items
Buying gifts for the people who always give you back one in return is a Christmas tradition. But it may be a challenging task for someone who is currently facing financial troubles on the income front due to the negative impact of COVID-19. So, what should he or she do?
Source: © Littlemacproductions | Megapixl.com
It’s always better to have a frank conversation about what you can both afford. This can work wonders for you. The other thing that can be done to make some cash ahead of Christmas is to sell unused household items. Money can be put towards essentials for Christmas.
Keep an eye on attractive deals
You can keep an eye on the best deals available on the items you need for Christmas. You can routinely check out the deals both online and in physical stores. There are always some genuine deals which offer better value at lower prices. However, as already discussed earlier, you should not go overboard while tapping such deals and ignoring your budget.
Zero per cent purchase credit card
It is not considered a good habit to pile up credit. However, if one can afford to do so, then always go with a 0% purchase credit card. You can apply for it in advance to eliminate paying interest. But ensure you always pay monthly minimum payments. You must also know when the 0% period ends so that you can clear everything on the card before a high interest rate begins.
RELATED ARTICLE: Will Omicron variant derail Australia's economic recovery?
RELATED ARTICLE: 5 ASX Companies to Watch as Lucrative Metaverse Takes Shape
RELATED ARTICLE: Another Aussie crypto platform bites the dust: myCryptoWallet collapses
