As the silly season well and truly ramps up it is easy to quickly ramp up your spending.

Whilst it is important to relax and celebrate, especially after the challenges of 2020, you do not want to make financial decisions this festive season that will come back to bite you in the New Year.

To ensure you stay on track, we have prepared some financial hacks, so you stay on top of your spending over the next few weeks.

1. Set a Budget

This is the most obvious one, but this is for a reason. Setting a clear budget will ensure you do not overspend if you are disciplined and stick to what you have outlined.

Start by categorising each spending category such as gifts and food and create a budget for each. Ensure you spend within your means and don’t go overboard!

2. Shop earlier and smarter

If you haven’t bought your Christmas gifts already, now is the time to do so.

Starting your shopping earlier means you can fit in more research, access more online bargains and not have to do the last-minute rush just before Christmas.

3. Don’t pay interest on borrowing

While it’s always best to only spend what you have, if you have no option other than to pay for some of Christmas on a credit card, make sure you make the payment.

Make sure you always pay the monthly minimum payments and know when the 0% period ends so you can clear everything off the card before a high interest rate kicks in.

4. Don’t be afraid to talk money

If you really want to buy a gift for someone who always gives you one in return, have a frank conversation this year about what you can both afford.

If you feel you need help planning budgets why not reach out to an expert? The team at MASU would be more than happy to help you get on top of your spending and achieve your financial goals.