It seems to arrive earlier and earlier every year. Just when you thought Christmas was only weeks ago, suddenly it’s only weeks away! While children count down the days, Christmas for many adults can be a difficult time financially. At Endorphin Wealth, will be able to help you plan out your Christmas budget and finances, with some savings to spare!
It can be a challenge to organise and prepare meals, buy gifts or to arrange a Christmas party. This can have the opposite effect to what most of us would like to achieve at this time of year. And let’s not forget that feeling when credit card bills arrive in January!
The good thing is that you get another chance each year to do things differently so you can have a different and much better Christmas this time around. Here are some ideas:
1. Create a Christmas Budget
Getting your spending in order isn’t all about sacrifice. A budget is just a plan. And working with a plan this Christmas can help ease any festive financial fears. You can carve out budget for things like gifts and holiday adventures plus still keep space for the usual joys, like weekly yoga or a meal out every Friday.
And you don’t need to do it alone. Endorphin Wealth has a team of experienced financial planners that can guide you every step of the way. We use personalised cash flow calculators and budget strategies to ensure you have a worry-free Christmas.
2. Small Savings = Big Gains in your Future
The countdown to Christmas is real. Why not pass the time by finding something small to save each day – look at it as a personal advent calendar! Maybe it’s making dinner at home, or adding spare change into an investment account.
We all have different small costs we could cut to have a little extra to spend – why not seek a financial planner to see where and you save and see what you could be using to fuel your festive spending power.
3. Start Shopping for Gifts Early.
Any benefits of “retail therapy” are soon lost as we push through overcrowded shopping centres looking for the perfect gifts for our loved ones. If you have left your Christmas shopping too late, make a list of the gifts you need in advance so you don’t waste precious time “browsing” or exceeding your budget. Or maybe do most of your Christmas shopping from the comfort of home – go online!
When you shop-smart, you could consider if there’s a local alternative to the most expensive brand name on your list? Compare prices, delivery costs, features and warranties and weigh up which product is going to give you the most bang for your buck. Buying earlier (like now!) can make a difference too. The closer it gets to Christmas Eve, the likelier it is that there will be a rush of demand that limits your choices and increases delivery costs.
4. Give Presents that Don’t cost an Arm and Leg.
When you think of the most precious things you’ve been given by your loved ones, there’s every chance it’s the experiences or the intention that counted much more than the gift itself. A present is really a way of saying “hey, I care about you, and this is a reminder”. So get creative.
If you can cook, paint or make things, why not craft a custom Christmas hamper or upcycle some vintage furniture? You could always gift someone a loyalty card that entails them to your driving skills, or music lessons. This way you can gift the perfect present without blowing your budget.
5. Savings Skills are the Gift that keeps on Giving
Sure, this isn’t a Christmas-only tip, but here at Endorphin Wealth, we want to help you have a healthy, happy attitude to saving all year round. Setting yourself up for a joyful New Year with some savings can help you focus on living – not losing sleep over your financial situation.
By setting aside a daily amount and an account for long-term saving, you’re investing in your own peace of mind. Micro-savings now, lead to mega savings later. Not sure where to start? At Endorphin Wealth , we have a team of expert financial planners that can help you create a cash flow strategy and budget for a happy, worry-free Christmas. Till then, Merry Christmas!
For an obligation-free conversation about your financial future, please contact us on 03 9190 8964 or at [email protected].
The team at Endorphin Wealth are passionate about helping people achieve their life goals with great financial planning. We are not licensed or owned by big banks and financial institutions. So the advice and wealth management we provide is always in our client’s best interests.
We have the advantage of being able to access a range of products from different providers. This means that our advice can be tailored to our client’s goals. We have offices located in Sydney and Melbourne, where you can find a financial advisor that is suitable for you.
