Top 10 Tips For Christmas Spending

1 Be realistic and budget accordingly. Work out how much you are going to spend on each person, and stick to it. Manage expectations as to what you or Santa can give.

2 Remember that rent, the mortgage, utility bills, food bills and debts still have to be paid. Even though it’s Christmas, get your priorities right.

If you do need more money, don’t just run up an overdraft without talking to your bank first – it will work out much more expensive.

4 Try as many different places as possible to find the best price. Buy what you want and not what others say you need. Be wary of extended warranties; the cost of a repair could be less!

5 Whatever the deal, or temptation, don’t buy from unauthorised traders or borrow from unauthorised lenders. The initial savings may prove to be a false economy.

6 If you can afford to pay for your goods outright by cash, cheque, or debit card, don’t be persuaded to take out extended credit agreements unless they really do work out cheaper.

7 Check for hidden extras in any credit agreement. Interest free credit can seem attractive, but if you don’t pay on time, or miss a payment, you may have to pay more.

8 Do your own credit checks. If you are going to use a credit card, shop around and compare terms. Some cards charge higher interest rates, but provide interest free periods.

 9 There’s a lot to remember, if you’ve borrowed money don’t forget that it won’t be long before you have to make a payment. Make sure you pay on time, even if it is only the minimum.

10 Once Christmas is over, it’s worth looking at what you did well and what you didn’t. This might also be a good time to start saving for Christmas next year!