How to save over $3K before Christmas
As the end of the year quickly approaches, many people are already worrying about the financial burden of Christmas.
To help you improve your financial position in the lead up to the festive period (and all year round!) money expert and author of ‘The Breakfast Club for 40-Something’s’ Vanessa Stoykov has put together simple tips to help you build your bank account balance by $3,000 between now and Christmas.
- Change your mindset. Even just by actively thinking about your financial situation, and how you can improve it, you’re on the right track. Your mindset plays a huge role in your money habits, and it’s important that you’re always thinking ahead rather than being in reactive mode. This can be anything from looking at your superannuation balance rather than just archiving it, to calling your electricity provider to see how much you can save by paying via direct debit and consolidating account as opposed to just paying the bill without thinking. Ultimately any action you take today will benefit you in the future and will help you feel in control ahead of Christmas.
- Sell unused items on Facebook marketplace. Almost everyone has items in their house that they no longer use, want or need. Selling items on Facebook marketplace is an easy way to earn cash and declutter at the same time, all without having to leave home! My main tip to getting top dollar is to take at least a handful of good quality photos per item.
- Start buying presents now and pay using lay by. Many people don’t realise that you can still pay using lay by, even when a sale is on. Starting to buy Christmas now means you can take advantage of sales to lock in the lowest price possible. This method not only saves a significant amount of money but being able to pay it off incrementally also makes it less of a financial strain.
- Leave things in your online shopping cart. My favourite new trick is when you are shopping online, add items you’re interested into your cart, and then exit the site. More times than not you’ll then receive discount codes over the next few days. For example, doing a grocery shop online and then exiting without paying will often then send you an email encouraging you to ‘buy now and save 10%’ on the items. This is an easy way to save hundreds.
- Start a side hustle. Try and find another way to make money outside your main source of income. It could be a bit of pet sitting on the side through sites like Mad Paws, becoming a contact courier through Zoom2u, or selling home cooked foods through Food4u - there are thousands of ways to side hustle that make it easier to bring in extra cash.
Ultimately, starting to think about your Christmas budget now, means less financial presses later on. And not just for Christmas but planning ahead and being conscious about your money choices means you are in control and changes your life for the better.
Vanessa Stoykov is a financial storyteller and educator. Her new novel, ‘The Breakfast Club for 40 Somethings’ is a fictional story of people in their 40s realising the power of money and decision making to set them up in life. Her website, VanessaStoykov.com has tips and a free quiz to see where you need to unlearn limiting money habits.