Budgeting This Christmas
Moving into a new home is exciting, but it’s also a new financial challenge for many people to undertake. First-time buyers coming from their family home might find the adjustment especially challenging with their monthly outgoings totally transformed. When you consider the implications of the global pandemic alongside this, Christmas can be an incredibly stressful subject to tackle when we think about personal finance.
We’ve compiled some simple tips you can keep in mind when thinking about your Christmas spending.
1. Look at your bills
A lot of property owners don’t know they can get a better deal on their essential household bills. Christmas is the ideal time of year to check comparison sites and get a better deal. Not only can this save you hundreds of pounds, but it also leaves a little more margin for festive treats. Some broadband providers also offer gift cards and cash incentives to join, an even better opportunity to decrease the impact on your own pocket at Christmas.
2. Set a budget (and stick to it)
Christmas is the time of giving and we know it is incredibly easy to lose track of spending when you are buying for loved ones. However, a budget will help keep control of your personal finances, especially if you have just moved and are not used to bigger monthly outgoings.
3. Avoid overstocking the fridge
It’s that time of the year, where supermarkets are full to the brim with seasonal food & drink favourites, but don’t be tricked into overstocking the fridge and when it is time to plan your Christmas dinner, compare supermarket prices and get the best deal you can.
4. Spread out buying gifts
It’s hard to think about Christmas in July, but you could save money if you start your gift shopping in the months leading up to Christmas, so this doesn’t impact your finances.
5. Don’t use your credit card for Christmas spending
Using a credit or store card for Christmas spending could lead you down an unexpected path. With interest to consider and payments being staggered, using them for gifts, food and decorations would be a bad idea.
We aim to reduce the annual running costs on your home with the sustainable building practices at the forefront of our properties. This means that when you’re part of a Beech Developments community, you’re already saving in preparation for the big day!
Warm wishes this festive season, from the Beech Developments team.