A Financial Planner’s Tips to Surviving Christmas

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As the year begins to end, and the amount of events and parties begin to multiply, the next few months can be overwhelming on your budget.

Whether you are planning the events or just attending them, there is a cost that comes with this time of year –if you aren’t careful, this price tag can be hefty. I’ve put together a few tips to help you manage your budget over the Silly Season.
A Financial Planner’s Tips to Surviving Christmas

1. Plan Ahead;
Know what is coming up and plan for it. For a lot of workplaces, Secret Santa gifts can be a great way to reduce the amount of spending. This doesn’t have to be limited to workplaces either – it works great for family gatherings!

2. Begin looking now for gifts that may be suitable for family and friends, the earlier you get in, the easier it can be to budget spending – rather than having spending occur all in the one week, or day!

3. If you are planning an event, look into the difference in cost between a Price Per Head, or a bar tab. Depending on the size of the party – it can work out cheaper to have a bar tab – rather than allowing the venue to determine the average amount of drinks, and charging you for it.

4. Resist the sales – and try to take a step back.

The advertisements will be on almost every corner soon, and the ever present “sale” signs will be riddled through television.

Stick to what you need, and separate it from what you want. There is a fine line we often cross, finding ourselves over our heads in items that we generally wouldn’t purchase, had the sale not been on.

With that said, sometimes a little nudge is needed for purchases, however just stay mindful that spending is promoted through retail at this time of year . . . keep on the lookout.

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