4 Finance Solutions For The Festive Season

With the festive season fast approaching and expenses getting high it is important to look at your finances so you can make it through the silly season with enough cash on hand.

While we may try to keep expenses down as much as possible the fact is that Christmas time is more expensive for most families around the globe than other times of the year.

Here are some ways to minimize expenses:

• Do a secret Santa arrangement for the adults – instead of every person buying everyone else a gift each person gets to buy a gift for one other person and there is certain price range that everyone must stick to.
• Make home made gifts instead of shop bought gifts – these will be much more meaningful and a whole lot cheaper than buying commercially bought products.
• Instead of lots of expensive outings with the family plan family activities at home and cheaper outings. The spirit of Christmas is spending time with loved ones after all. You can have board game nights, do crafting or other activities.
• Prepare your own food – instead of eating out at restaurants go out for a picnic with homemade foods.
• Of you do decide to travel opt for self catering accommodation or camping.
• If you need to fly make sure to book for the New Year as prices often drop significantly after New Year’s Eve.
• Make use of coupons, rewards cards and specials that are running – every saving will count.
• Create a budget for the festive season and stick to it.

Finance Solutions For The Festive Season

Many families find that even with careful budgeting and saving everywhere they can they are still in a deficit over the festive season and need some help to make it through to their next pay check. January is usually the hardest month financially, with many people running out of money long before the end of the month.

Here are some finance solutions that you can consider this festive season:

Revolving Loan

A revolving loan is a fantastic finance solution which gives great flexibility. Once the initial fee has been charged to set up the account there are usually no charges if there is no money outstanding on your loan. The revolving loan is there for you when you need it and it is quick and easy to access it in case of emergency.

Payday Loan

This is a very short term loan and as the name implies it is only meant to help you financially until your next paycheck comes in. We all know how long the month feels when it is mid January and we are waiting for our first salary payment of the year to come in! It is usually a smallish loan that you can pay back in one payment when your salary comes in.

Credit Card

Many families already have a credit card which makes this a very convenient option for extra funding over the Christmas period. It is a great idea to try and ensure that any amounts due on your credit card are paid up before the festive season so that you have more credit available and you avoid running your credit card debt up too high.

Personal Loan

A personal loan is usually a larger loan that you pay off over a longer period of time. It may take a little bit of time for a loan of this nature to be approved so if this is an option that you are interested in try and get all the paperwork and approval done well in advance.