With Christmas well on the way, we now enter the most expensive period of the year, where we spend an excess of £24 billion as a country as part of our Christmas spending habits. With so much money to be spent on presents, food and decorations, it is understandable that it could cause an intense stretch on your purse strings as you try and make your finances last until your next payday. With that in mind, here are a number of ways to get you through a financially tight period of time.
In the modern age it is far easier to use card than cash, especially with contactless debit cards that allow us to pay for practically everything with the merest tap of plastic. This is all well and good, but unless you check your account constantly, it is very easy to lose track of how much we’re spending. This could very quickly lead to an empty account or very deep into an overdraft. As an alternative, withdraw a set amount of cash for yourself to last the week. Once it’s gone, it’s gone, no extra withdrawals, no exceptions.
There are a number of different loans you can take if you need to borrow an amount of money to get you through, which you can then repay at a later date. First of all your bank may consider you eligible for a loan depending on your credit history. There are also a number of online firms who it is possible to borrow from. In both cases, make sure you’re aware of any interest that you’d be expected to pay on top of the initial borrowed sum.
If we’re all very honest with ourselves, we all have some clutter in our homes that we no longer use or need. Instead of letting of letting them gather dust, why not find new homes for these items. With sites like eBay and Gum Tree, it’s now easier than ever before to sell our unwanted items. You’ll be surprised at the number of things online buyers from all over the world are looking for and you could well have a rare collectible that could provide you with a serious cash boost.
Get into the habit of putting some of your wages aside each month, especially in the build up to Christmas. Providing you stick to the routine, this put in a rather favourable position once you need to use the money you’ve saved up. Where possible, try and cut back on luxury items and treats as much as possible. While you might miss out on the occasional social event, or buy the cheaper supermarket brands, your pocket will thank you in the long term.