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Making your money go further over the festive season

December 21, 2009 by admin  
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In years gone by Christmas usually referred to just one day, which was of course Christmas day, and whilst preparations for the big day were made in the run up to Christmas it was not like it is today, where the two weeks leading up to Christmas were filled with festive events and parties and the week between Christmas and New Year was also filled with events and festivities that often usually cost money.

Over the years Christmas has become an increasingly expensive affair for many people, and in addition to the turkey and the gifts there are now all sorts of other things to think about, from funding travel costs to go and see friends and relations to buying high tech gifts for increasingly demanding kids, getting new clothes to wear to the various events, paying to go out to parties and for meals, and more. In the current climate, where many are suffering in terms of their finances, Christmas has, in short, become something to be stressed and worried about rather than to be excited about.

In fact, this year it has become more important than ever for people to cut back because of various situations that have affected their finances such as pay drops and redundancies. There are many people that may already have got the gifts and trimmings for the festive season, but for those that haven’t it is worth remembering that last minute bargains can save you a fortune. Spend some time shopping around on the High Street or online to get gifts that have been slashed by up to 50 percent in some cases, which you can still get in time for Christmas Day but which will cost you far less than they might have done a couple of weeks ago.

Also, remember that supermarkets are after your money as well this year, and as such rival retail giants have been slashing the cost of Christmas food. You can get some great prices on the cost of your Christmas dinner and party foods of you are looking to entertain, and you can even go online to check the prices before you head to the supermarket so you know exactly what you will need to spend to get everything that you needs for the big day.

There are many people this year that will have been forced to put the cost of Christmas onto a credit card because of their finances, and if this sounds like you then you also need to think about how you intend to repay the debt that you have built up on the credit card. If you have put your on a 0% purchase credit card that still has a generous repayment period on it then you won’t need to worry as you will have plenty of time to clear the balance without being charged interest. If you are one of the lucky ones that is able to repay the balance in full in January you will also be able to avoid paying interest on your borrowing.

However, if you have used a standard high interest credit card for your purchases then you may be hit with hefty levels of interest, and you should therefore consider getting a 0 percent balance transfer credit card lined up onto which you can transfer the debt from your old card. This will give you more valuable time to repay the balance after Christmas without having to pay unnecessary interest charges.

Tags: Credit Cards, lucky ones, save you, festive budget, interest rates

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