We often hear from clients that the most stressful part of Christmas is how to manage their money during this potentially expensive time of year. However there are some ways that you can look after yourself, so that you don’t get caught up in the spending cycle during the holidays.
Being prepared and limiting your access to money may help you keep control of any temptation to gamble and reduces the likelihood of gambling at the spur of the moment.
Try and follow some of these simple tricks to keep you on track these holidays:
- Track Your spending by creating a budget and revisit it often, to make sure you’re spending within your means over the holidays
- Think about what you need and what you can afford
- Make a little extra room for things that may come out of the blue, hold some money in an emergency fund.
- Make sure you pay all your bills and necessities before you spend extra money on the festive season, this will help you make sure you haven’t overstretched.
- Before you buy the little treat or “extra” for yourself, be sure it’s really worth the price. Be careful of holiday sales this can be an opportunity to save money on something you really need, but would you have bought it in the first place? Be a bit careful.
The use of gift vouchers can help provide some independence for you so you go shopping and buy the necessities without the risk of having access to your money and gambling. Sometimes you can even get gift vouchers with a percentage off which gives you a small saving before you have even started your shopping.
If you are concerned about your willpower, you may ask someone you can trust to look after your cash or credit card. Especially if you know you’re going into a high risk situation over the festive season such as Christmas lunch in a gambling venue.
Remember is not about what you spend, but the time you spend together. If you need a hand we are here 24/7, 365 days a year!