The Healthy Wallet Project
Improving families financial well-being


Savvy Saving Tips

How to get financially ready for Christmas

Christmas is meant to be the most joyful time of the year but for a lot of families this is not the case. Christmas brings stress, which is mostly based around finances.

For years this caused a lot of stress for us as the bills don’t stop at Christmas time but my husbands work did, we were always unprepared because we didn’t want to face it so it was usually a last minute rush around using the credit cards….we will pay it back right?

More often then not Australians are left with a financial hangover from their Christmas spending, we tell ourselves in our credit card spending splurge that we will pay it off straight away in the new year as we get swept up in the Christmas festivities…..but we don’t, come June we still have the credit card debt with its high interest rate sucking money from us.

So how can we make a difference this year?

We can get savvy! We can make a plan now, decide what is truly important to us and make Christmas fun again! This month I am sharing the steps you need to take each week to get Financially ready this Christmas come join in through this link.

Last Christmas was the first Christmas we had stress free, it was a quiet relaxed Christmas but we paid everything we needed to and enjoyed our family time (we have not used our credit cards since Christmas 2016!)

This Christmas we are planning our road trip down South West WA, our first fun family holiday at Christmas in a long time!

So how do you turn things around this Christmas to remove financial stress? My favourite B letter word……. Budget!

  1. Know what you want to do and how much it will cost.

  2. Know how much you need to cover your bills while you are on holiday.

  3. Create your budget or adjust your current budget to make sure you save enough for Christmas.

  4. Plan how much you are going to spend on gifts and STICK TO IT!

  5. Bring your kids into the conversation, they need to understand and be apart of the process of deciding what is important to your family at Christmas time.

Want to be kept accountable? Come join my Facebook Community!

Savvy Saving Mum - Favs - Social Media use-8745.jpg

Terri Watson is a mum of three, money coach on a mission to help build financially confident families across Australia.

Learn more about her here

Terri Watson