For a lot of us, the lead up to Christmas can be a stressful time.
It’s not uncommon, especially if the year before has been challenging.
There’s always the need to make Christmas special for loved ones, but this can lead to the financial pressure to spend beyond our means which can impact our mental health.
With many people likely to get themselves in debt over Christmas, it begs to question how we can find the balance between financial stability and our mental wellbeing. Indeed, a lot of people can feel more anxious about not being able to afford Christmas, and this can leave a lot of people considering payday loans. However, this doesn’t have to be the case. Taking control of finances and taking time to manage money can mean a much less stressful festive period.
Here are top tips to keep on top of your finances during the winter months.
The best way to avoid spending too much money over Christmas is to plan your expenditure and set specific budgets for gifts. Take time to think about what you want to buy in advance, plan for how much you can afford, and set a limit that you can’t exceed. Sticking to this kind of plan and budget means you won’t get yourself into financial turmoil.
Not the naughty or nice type. Write a list of everything you want to buy and try and get it all in one shop. Be clear, concise and have a little self-discipline so you’re not easily enticed into another great sale or bargain. A lot of people find busy shopping centres a source of stress and anxiety. Therefore, you can always shop online as an alternative.
You don’t always have to be gifts on the high street. Sometimes, the most thoughtful gifts are hand made with love – they can make for some of the most sentimental too. For example, you can create your own art like knitwear, a painting, or you can gift homemade food gift wrapped such as jams, chutneys, or cookies. Getting creative will also help you feel more relaxed and will support your wellbeing. It can be therapeutic for many individuals.
To help you save money, it’s important to think ahead and start planning Christmas earlier rather than later. You can put money aside each month after pay day to help lighten the load when it comes to Christmas. It’ll also avoid you relying on credit cards and loans.
Mental health issues can make it harder to manage finances. If you’re suffering with anxiety or stress or generally feeling under the weather, it’s best to put off spending until you feel better. You’ll be less likely to overspend and impulse buy.
There are some great tools to help you keep on track with money all year round. From apps to budget planners. It’s also important to reach out if you need help. It could be friends or family than can help you to avoid any personal anxiety triggers.