Ho Ho How to budget for the silly season

As the year comes to a halt and Christmas is around the corner, many of us look forward to a (much needed) break to wind down and spend time with those who matter. This can be a great time to reflect on the year that has been and start thinking about a financial strategy for the year ahead.

The silly season can get pricey. Christmas gifts, parties to attend, new outfits for the occasions and -for those who go away- the cost of travel, food and accommodation. Here are some ways to help with the budget.

Curb your spending

It’s easy to get carried away spending, during this time of year. Try to not spend unnecessarily so that when the season is over, you won’t be left with having to recover from a big financial dent. Hand-made gifts and inexpensive meals are just some ways to keep you on track.

Make a budget and stick to it

The end of year break can be a difficult time to apply financial discipline so plan out a budget, outlining what can be spent over this time and stick to it. You may be tempted to go over budget in the spirit of celebration, but thinking of the bigger picture will see you be thankful once the party’s over.

Consulting a mortgage broker can help you work out a financial plan when it comes to your mortgage that will keep you merry through the Christmas period.