We love to have a good time over the Christmas period, but then we are often left with a nasty New Year debt hangover. If you would like to stay on top of your finances over Christmas, The National Consumer Agency have a fantastic Christmas budget planner available on nca.ie
The Christmas budget planner is a very useful tool for families to help them spend within their budget. You simply set a budget and list all costs that relate to the festive season. This includes budgeting for both expensive costs, like large gifts and Christmas dinner, to smaller items such as cards and wrapping paper.
As well as the Christmas budget planner, the NCA has issued a series of money saving tips to help consumers manage their Christmas spending, including a warning to avoid excessive credit card use.
Karen O’Leary, Director of Public Awareness and Financial Education commented, “With just six weeks until Christmas Eve, we are urging consumers to plan out what they can afford to spend and make sure that they stick to their budget. Some consumers like making lists, others don’t, but it is definitely worth doing one up for Christmas. Dedicate some time to think about what you can afford to spend before you go shopping. A good way to keep on top of how much you are spending is to pay with cash, or your debit card. You will be less likely to overspend than if you use a credit card.”
On nca.ie you can get money saving tips to manage your spending over Christmas, and also use the credit card comparison to compare rates, if you plan on using credit.
Ms O'Leary added, “Even with the best of intentions, it is easy to get caught up in the excitement and blow your budget. January can be an expensive time of year and you don’t want to start the New Year with a big credit card bill. If you do overspend, it is important to have a plan in place to get your finances back on track.”
