Managing Your Finances This Christmas

The festive season is nearly upon us (again)!! Between gifts, food, events, and travel, December can quickly get expensive, so it helps to prepare for the most wonderful time of the year. With a little extra planning, you can enjoy the season without compromising your finances.

Start Planning Early

November is the perfect time to get organised. Set a budget for gifts, food, travel, and entertainment, and record your spending to keep you on track. 

Starting your shopping now also gives you a chance to take advantage of Black Friday and Cyber Monday deals. List out a few ideas for each person so you can keep an eye on where the best savings are. Don’t forget to check online delivery cut-off dates to avoid last-minute shipping fees or stress.

Gift with Purpose 

Expensive gifts aren’t always the most practical. Consider these ideas that can show just how well you know someone:

• Experience gifts like tickets, vouchers, or workshops.
• Secret Santa for larger groups.
• Homemade gifts – use your talents!
  

Keeping track of everything you’ve bought or made and what it cost can help you stay on budget and avoid overspending or impulse purchases. 

Share the Christmas Feast

Hosting a potluck is a great way to try lots of different festive foods, as well as dividing the cost and responsibility across the group. The result? A less stressed host, heaps of delicious food and drinks and way more manageable costs. For larger groups, try using a shared app to keep track of what everyone is bringing so you can plan what you’ll make ahead of time. 

If you’re strapped for time, check out which meal kit companies in your area are planning a Christmas menu – this can take out a lot of the planning but still save you some dollars.

Travel Smart

Peak-season travel over Christmas and New Years can seem a bit daunting, but if you’ll be travelling this year, be sure to book as early as you can to avoid those last minute price hikes. 

Keep It Stress-Free

The key to a joyful Christmas is often simplicity. Focus on what matters: connection, memories, and fun. The more we try to make magic, the more stressed we often are – let some of the magic come to you with free events and activities such as looking at light displays or joining community events and local street parties. 

Make This Your Most Enjoyable Christmas Yet

A little extra planning and some savvy shopping goes a long way in making sure you enter the Christmas period feeling prepared. Whether you’re going big or keeping it casual this year, there are plenty of simple ways to save without compromising on the fun! 

A personal loan is another option to boost your budget this festive season and allow you to manage your holiday expenses your way. Rapid offers personal loans from $2,001 with fixed rates and no early repayment fees, so you can step into the New Year knowing exactly where you’re at.

Apply online now or give our friendly team a call on 1300 727 431 for more information. 

Disclaimer: This article is general information only and does not take into account your personal financial situation. Seek independent advice to determine if a loan is suitable for you.