On the First Day of Christmas Dooleys said to me - A Debt Free January!
We all know how much we end up spending on the festive season.
We start with good intentions. We budget. We pay extra off the credit card or put extra aside in the savings account. But, it still happens. January arrives and your jaw drops when you read those lovely letters banks like to send us.
Here’s a few tips on stress-free holiday spending:-
- December is the peak credit card spending period so try and limit what you use yours for.
- Use cash if possible.
- Pay money off your card through your spending period.
- Check the interest rate on your credit card as on some cards, interest charges start accruing, possibly over 20%, if the balance is not returned to “0” by the due date.
- Don’t change your spending habits chasing reward points.
- If you can’t bring your card spending back under control by the due date, consider paying chunks of cash into it in the first few months of the new year.
- Pay more than the minimum requirement, as paying the minimum will see you paying off Christmas well into the new year and beyond.
- Enjoy – in moderation, and hope your gifts are just what the recipient was dreaming of.