Christmas Time is not the time to have financial stress
The Christmas season is a time for celebration and enjoyment. Unfortunately, it can also become a time of financial stress and anxiety. Financial stress is widespread and growing, and is a leading cause of stress in Australians. During the festive season we can feel under increasing pressure to spend, rely more on credit, and tend to put off thinking about the consequences.
This year try some of the following tips to enjoy Christmas without the financial stress:
Prepare a budget – start with the amount you have available, after all of your usual costs. Decide what you need to spend money on, and what you don’t.
Create a spending plan – that covers entertainment, gifts, travel, decorations, telephone costs – and align that to your budget. Once you have your spending plan stick with it!
Avoid temptation – don’t shop when you are hungry, tired or feeling emotionally vulnerable as these are all times when you are likely to overspend. If you are considering buying something that is not on your spending plan, ask yourself whether you really need it and whether you can really afford it?
Pay for as many of your purchases with cash rather than credit – if you use credit, pay it off as quickly as you can. This is not the time of year to increase your credit limit or apply for new cards.
Great gifts don’t need to be high cost – offer your services for babysitting, prepare a meal for someone, hand make a gift, frame a photograph. Use your creativity to save your bank balance and you’ll be surprised at how people respond to a gift that has taken personal energy rather than personal investment.
Remember that not only are the best things in life free, the best things in life are generally not things.
Creating Change is here to help you through this stressful time.
If you would like to see one of our Psychologists or Therapists for some financial counselling, make an appointment with our friendly Client Relationship Team on 02 8883 3185.
Servicing Baulkham Hills, Castle Hill, Kellyville, The Ponds, Kellyville Ridge, Winston Hills, Blacktown, Rouse Hill, Bella Vista and surrounding suburbs in the Hills District of Sydney.