How to Enjoy Christmas on a Budget, with Debt Line
BOURNEMOUTH, ENGLAND, December 06, 2012 /24-7PressRelease/ -- A new report has forecast Christmas spending in the UK to reach GBP86 billion this year, despite a contraction in disposable income. Christmas is one of the most expensive times of the year and there is tremendous pressure on parents to make their children's dreams come true in the form of lavish gifts, expensive decorations and more food than possibly be consumed in one sitting. To pay for all this, parents generally reach for their credit cards without any intention of being able to pay their balance at the end of the month. Instead parents risk getting into debt to create a magical Christmas for all the family.
However, Debt Line, a leading debt management company, argues this doesn't have to be the case. It has some advice for parents this Christmas to help them keep spending during the festive period under control. Additionally, for people already struggling with their finances, Debt Line offers cost-effective debt management services that will help debtors get out of the red and into the black with ease and speed.
Debt Line's first tip, which it suggests is a good habit to get into at any time of year, is to draw up a budget planner. It advises people to investigate the real and current costs of everything they plan to purchase during the Christmas period, from tinsel and stuffing to children's toys and presents for their partners. By breaking down all these costs into sections such as food, decorations and gifts, people will be able to see exactly what they are spending their money on and they can reduce certain areas where necessary.
It's also a good idea, advises Debt Line, to order items in terms of priority and focus on the gifts, foods and decorations that are most important. Children might receive less in terms of volume, but they'll still be able to enjoy their most prized toys.
Finally, if anyone really wants to stick to a tough budget at Christmas there will be some cut backs. For example, can the luxury crackers be taken out and swapped for some more basic ones? Can the celebratory champagne be swapped for wine? There are some areas that people won't want to economise on, but there are others where people might be surprised just how much they are spending; as a result they will be more than willing to make financial cut backs, swaps and replacements.