Smart holiday spending tips for a debt-free new year
Discover our top tips for enjoying the festive season while keeping your bank balance in check.
The holiday season is a time for joy, giving, and celebration. However, it can also be a time of financial stress and overspending.
To avoid starting the new year with a financial hangover, follow these simple tips:
• Set a budget and stick to it.
• Make a list and prioritise your spending.
• Consider DIY gifts or experiences.
• Take advantage of sales and discounts.
• Use cashback apps and rewards programmes.
• Additionally, consider implementing the 50/30/20 rule: 50% of your income goes towards necessities (rent, utilities, groceries), 30% towards discretionary spending (gifts, entertainment, hobbies) and 20% towards saving and debt repayment.
By following these tips and being mindful of your spending, you can enjoy the holiday season without breaking the bank. Start the new year with a positive balance and a clear financial conscience.
• Source: Nerdwallet
