Some are wondering how to survive financially Christmas gift shopping and other holiday spending. The credit card may seem like a friend, but if used wildly, it could be a villain who will attack you as early as 2018. But then, what to do?
This time of year you are surrounded by advertising to buy Christmas gifts. On the way to work, on television, on social networks. Nowhere is free from the advertising that tells you it’s time to spend with the people who matter to you.
But the most important thing right now is not to get carried away by consumer pressure. Expenses should be commensurate with your financial situation and the bills awaiting you in January. This means that you can use your credit card, but you must first understand exactly what your limit is.
But what limit?
We are not talking about the credit limit you received from the card company. When we use this word here, we refer to the spending limit you can have without compromising your finances.
Ideally you would have been prepared during the year for these purchases, but if not, we have some tips that will help you not get into debt.
- Make a list of the people you want to buy Christmas presents for. This will help you not get lost in shopping and even buy two gifts for the same person.
- Separate the list between people you will see on Christmas Day and people you will only see after the holidays. In the period after Christmas stores usually do promotions and you can save on some gifts. Also, this is a way to ‘split’ the payment of these gifts.
- Know the closing date of your credit card statement and use it to your advantage. Knowing this date you can set the best day for Christmas shopping without squeezing the family budget.
- Search and prioritize. It’s tiring, but the more you look for it, the more likely you are to find cool gifts at a more comfortable price for your budget. Also, prioritize your time to look for the hardest gifts first or for those you will see first.
- Think about the exchanges. In doubt about a gift? Better to opt for a store that gives the option of exchange for the recipient. If he or she lives in another city, consider this.
- Please keep vouchers and track your bank statement / credit card statement. Be very careful not to miss the budget purchases, especially if you pay only in the following month.
- Avoid installment purchases. Whenever you can, avoid making too many installments. This ends up making your credit card bill higher in the coming months, which can easily lead to debt.
- If in installments, write down in your budget the number of installments and don’t forget to consider it each month.
- Escape the rotary. Have you spent too much and already seen that you can’t handle your card bill? Before getting into this expensive high interest debt, replace it with a cheaper credit. One of the options is personal credit. Evaluate, research, simulate and discover a smarter credit option for you.