Five Ways to Make Your Seasonal Budget Stretch Further

Christmas is only a few weeks away and you may be worrying about how the festivities are going to affect your monthly budget. Budgeting for the festive season can be tough but here are a few ways to reduce the financial burden this year.

Focus on the Essentials First

Before you begin to prepare for the festivities, you should note down what fraction of your budget will be spent on essentials. This covers everything from your mortgage payments to other monthly outgoings that you have to pay. Once you have put this amount aside, you will then have a better idea of the remaining budget that you can spend on presents and food for friends and family.

Cut Back Before Christmas

While you may try to cut back here and there on the run up to Christmas, there are a number of things that you can do to boost your festive fund. Now is the perfect time to cancel any unnecessary direct debits and see if you could be saving anything on your mortgage payments. Speaking to a specialist like Capital Fortune can put you in the picture and let you know if you could be paying less. Make small changes like preparing your own lunch each day in December instead of buying it from a shop and you will be surprised how the pennies add up.

Avoid Borrowing

While it may be tempting to put all of your Christmas expenses on a credit card, this will only put more pressure on your financial situation once the New Year arrives. Putting a budget in place can often ensure that you know how much you can spend on presents and food and make you more aware of what you are spending. If you don’t pay off the balance in January, interest will be building up on your purchases and the chances are you will still be paying for these goods in a few months time.

Shop Smart

Buying gifts for your friends and family at Christmas time needn’t cost a fortune. There are a number of ways to save money on your Christmas shopping and one simple way is to get the timing right. Try to wait for the sales if you can or take advantage of the great deals that can be found online. Many stores have reward programs so be sure to make the most of any vouchers or points you may have accrued. It is easy to go overboard when buying food for the festive season so make sure you arm yourself with a list of essentials before you raid the aisles.

Raise Funds with eBay

Having a clear out can free up some funds for Christmas. Selling the things that you no longer have a use for is the perfect way to boost your funds. More and more people head to eBay to do their Christmas shopping so this is the perfect time to list your unwanted goods.