5 budget hacks for the holidays

It’s been a tough year so it’s only natural to want to splash out and add some sparkle to end it off. From gifts and meals to decorations and celebrations, it can be easy to blow your budget, so we’ve put together our top hacks for staying on track while enjoying a safe and memorable time with loved ones.

1. Take stock

It’s a good idea to do a financial ‘pulse check’ monthly and especially so at the end of the year, and to be ready new year. Before you plunge into the bliss of festive shopping, list out your expenses and income so you have a clear picture of your financial situation. Then set a budget and try not to exceed credit limits. Should you need a little extra, you can apply for a limit increase, but only do so if it’s absolutely necessary.

2. Stick to a budget – and ask others to join you

Everyone’s in the same boat this year, so play open cards with family and friends. Agree on a gift price limit so you can keep your spending under control. There are many fun alternatives to gift buying, such as a buying gifts for kids-only or Secret Santa (drawing one person’s name and buying them a quality gift). You could even give DIY vouchers, offering your skills as a chef/babysitter/seamstress/tour guide. Look online for some great gifts ideas at various prices from Woolworths this Festive season.

SHOP CHRISTMAS

3. Shop smartly and use your rewards

The more your shop, the more you save might sound non-sensical but with clever planning, your gifts could reward you in the new year. Many financial institutions offer rewards, which will come in handy later. With a Woolies Credit Card, for example, you get up to 3% of your spend back in quarterly vouchers each time you pay with your card.

4. Share the load

Hosting this year? Ask friends and family to contribute to the meal. People love to share ideas and show off their cooking skills. Less is more – don’t over-cater or feel obliged to serve a traditional meal. Keep it simple with light, summery food and remember, if you are Woolies Store Card or Woolies Credit Cardholder, you are an automatic WRewards member, which means you get an extra 5% off on Woolies Favourites and Everyday items.

5. Create new traditions

Festive celebrations don’t have to cost the earth to be special. Why not think out of the box this year? Instead of eating out, pick a country from a map and create an exotic home cooked meal – complete with silly dress-ups. Surprise the neighbours with some festive carol singing, enjoy an outdoor picnic under the stars or go for a hike on Christmas day.

Whatever you have planned this festive season, remember to stay safe from Covid-19 by wearing a mask at all times, practising social distancing and hosting celebrations outdoors or in very well ventilated areas.

Worried about your budget? Help is at hand with a range of financial solutions to make things easier for you.

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