As the year ends (and not a minute too soon!) it’s time to do what many of us fear… Shop for the holidays.
It’s so easy to lose control… Some of us overspend just to avoid spending days finding something suitable for a 3-year-old who freaks out if she sees the colour green. Or, we spoil our families with feasts with all the trimmings, 3 times a day, every day, when really, ordinary meals would do just as well most of the time. Or, we overspend because we’re particularly gifted when it comes to the art of gift-buying and we like to get all the extras. And the wrappings and cards.
Whatever the case, it happens. And your wallet notices.
It might be holiday time but that doesn’t mean it’s also blow-your-budget time! Check out our top tips for indulging your whims while still keeping your savings on track.
#1. The obvious 1… Create a holiday budget
Obviously, your first step is to check what funds you have to spend on holiday fun. From there you map out how much you can afford for each aspect. Set out what you’ll need to budget for, from accommodation and outings to groceries and gifts.
#2. Avoid the binge
Now that you’ve got a budget, you can stick to what amounts to a financial diet. But, that said, we all know that all diets offer some freedom to cheat… So if something you haven’t planned for pops up (or into your shopping cart) consider it carefully. It’s also a good idea to set a threshold amount for unexpected costs. And stick to it!
#3. Don’t try to be everything to everyone
You have your limits… And so does your money! There are only so many dinners and events that you can sign up for. Don’t sign up for a guilt trip every time someone invites you to do something! If it’s not in your budget, just say ‘no’. The people who matter don’t mind and the people who mind don’t matter.
#4. Agree on a gift policy
Christmas is really all about the kids, right? So how about applying some limits to pressies for the adults… Boundaries that’ll help everyone over 18 manage their gift and financial expectations. Some families draw a name or 2 out of a hat and only buy for those people. Others simply cap the amount they spend per gift. And still others only give hand-made gifts. And… Kids love crafts, right? So consider applying this rule to them too!
#5. Don’t over-think things
Yes, this is a weird thing to put out there… But you don’t do yourself any favours spending days on Pinterest researching great gift, food and holiday decor ideas. It’ll only make you feel guilty about not making and baking every single dish from scratch, and you’ll be pale with shame about not upcycling pallets and Mason jars into gifts for your third cousin and her 7 kids. Mostly, you’ll just set yourself up for failure. Trust us!
And if you need any more help to boost your holiday budget, why don’t you check out our royal insurance products. Our car insurance comes with super cheap premiums that decrease every month as the value of your car depreciates, and you can choose your own excess! We’re also not too modest about putting it out there that we have 1 of the lowest claim-overturn rates around, which is a fancy way of saying that we make sure our clients’ claims are actually paid out.
Whatever is valuable to you, is valuable to us too. So, this festive season, relax… We’ve got you covered. Get a quote today and see how much you can save!