| How to cope with Christmas |
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Christmas should be a happy time, but the reality is that it can be a real strain and a worry for those whose finances are tight. Trying to buy presents and expensive food on top of the normal cost of living can push people over the edge financially. Here are some tips on how to manage your Christmas finances: 1. Make a budget and stick to it. If you create a realistic budget, you start to feel in control of your finances, and your spending won’t exceed your income. 2. Save up for Christmas instead of paying for it on credit. If you don’t have any savings for Christmas this year, then start saving in January for Christmas 2010, even if it’s just £5 or £10 per month. It’s so empowering to spend money that you’ve saved, and it stops you having a nasty surprise when the credit card bills come in January. 3. Remember that buying presents can’t buy love. Why not try making some gifts yourself? Something that is handmade may be more appreciated than a bought gift if the recipient knows that you have spent time, thought and effort on them. 4. If you have older children, especially teenagers, discuss things if money’s tight. They will appreciate knowing where you’re coming from, particularly if you’re worried about finances, and it could help to build a closer relationship between you as well. 5. Don’t be tempted by the January sales if you haven’t got cash to spare. It is only a bargain if you can afford it in the first place! Withdraw your budget in cash, leave the cards at home, and then there won’t be the temptation to splash out on things you don’t really need. If you are really struggling with your finances, you may need to seek professional help. Christians Against Poverty (CAP) operates through a national network of debt counselling centres offering free, confidential advice. For more information visit www.capuk.org or call 0800 328 0006 free of charge. |
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