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Finance
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Manage Your Budget Over Christmas
Christmas is traditionally the time of year when we’re all prone to over-spending However if you plan your spending wisely, you could save a fortune and not be out of pocket in the New Year. This time of year also can be particularly hard for small businesses. Larger companies may be reluctant to pay out as they have extra costs; the obligatory Christmas party springs to mind. The answer to avoid late payments and unnecessary debts is planning and lots of it!
Small Businesses
If you’re running a small business, it’s a good idea to draw up your Christmas budget well in advance. You to need assess your income and the impact any possible delay in payment will have. This delay may set you back two months instead of one. How will this affect your budget for the New Year? Will you need to put aside extra money to fall back on? Will you have to employ extra staff? An article by New Business offers some good tips.
www.newbusiness.co.uk/article/29/11/2005/Christmas_cash_crisis_3324.htm/
Christmas Shopping- reduce your spending and stress
Some ideas…
1. Write a list of people that you absolutely have to buy for. Do you really need to buy a present for your great aunt?
2. Get ideas from people as to what they really want. This will save unnecessary spending.
3. Don’t put everything on credit cards! (This will save on interest charges).
4. Buy online. Many companies will offer reduced prices on new products.
5. Don’t leave buying your food to the last minute. You’ll have to fight your way through too many people.
6. Re-use wrapping paper from last year.
7. Decide on a budget and stick to it!
Christmas only comes once a year, for one day so is it really worth all the stress?
Useful Links
Budgeting for Christmas
www.smartmoneytips.com/holiday-budget.php
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