Although the Christmas period is a magical time, there is no escaping the fact that it can get incredibly expensive, especially if you have a large family or children that you need to buy gifts for. Here are some of the best ways that you can pay for your gifts and anything else you need to buy this Christmas.
It makes a lot of sense to put money into a pot or a savings account throughout the year, and then use this money to buy your gifts, food, and decorations for Christmas. This way, you’re not putting yourself into debt to buy your loved ones’ presents. The easiest way to do this is to put what you can afford each month to one side and make sure that you aren’t tempted to dip into it throughout the year. Then, when it gets to the festive season, you can make a budget and decide how much of the savings you are going to spend on each person on your present list.
Buy throughout the year
Alternatively, you could buy people’s gifts if and when you see them throughout the year, and then keep all of the gifts together in a cupboard or a box until it gets to December and you need to wrap them. Often, you can find perfect gifts throughout the year for much much cheaper than you would do in the run-up to Christmas, especially on Boxing Day and New Year’s sales. By buying gifts if and when you see them, you also aren’t keeping a hold of a large sum of money that you might be tempted to use for other things throughout the year.
Use credit cards
If you have to borrow the money, then credit cards are usually the best way to go. Not only do they protect your purchases, but they might also offer you rewards for using them. For example, some credit cards give you high street vouchers and loyalty points for supermarkets for using them to buy things. This is essentially free money that you can then use to buy more gifts or food for your Christmas dinner. If you decide that this is the best option for you, click here to find the best deals to pay off your credit card bills.
Get a loan
Although applying for loans certainly shouldn’t be encouraged, especially to pay for Christmas presents, sometimes they are the only option left. If you’re stuck for other ideas, just make sure that you shop around to try to find the best rates and deals on your interest repayments. Luckily, there are plenty of fast payday loans available if Christmas day is drawing closer and closer and you still haven’t been able to buy any gifts. Just make sure that you make loan repayments when they are due, to avoid paying any huge charges.
While gifts are a big part of Christmas, I doubt any of your loved ones would want you to struggle financially to buy them something, so if you are struggling, you might want to consider some free Christmas gift ideas.