After being in lockdown again for a whole month, the freedom we will have on the 2nd of December will come with some sort of shock to our bank accounts. That is of course unless you have been spending large amounts on essentials and online shopping. Following the 2nd of December, depending on your location in the UK, you will be able to treat yourself to multiple meals at restaurants and enjoy the feeling of shopping in an actual shop. But, as you can imagine, this will make some sort of negative impact on our bank accounts, especially will the run-up to Christmas here. So, we have put together a few ways in which you can avoid a financial hangover.
Stick to your budget
Whether your budget will be the same as it is during a lockdown or not, sticking to some sort of management plan is essential. With all of the sales, discounts, and promotions occurring at this time of year it is very easy to let go and go off track. But, this is definitely something that will cause some sort of unwanted reaction in the future. The last thing you want is to find yourself in debt in the New Year. Although, before you begin sticking to a random plan, make sure your budget works for you. This will keep you far away from the dreaded financial hangovers.
Search for the deals
Around this time of year families, especially with children spend a lot more money than normal months. With the purchasing of different items, activities, and even just overall necessities the amounts soon add up. Therefore, we advise that you try looking for some sort of sales. This could be anything from Black Friday discounts to occasional offers. Typically, buying gifts will be a lot cheaper if you are buying multiple items at a discounted price instead of buying the same items when they are not in the sale. So, keep track of the different discounts available to make sure you have the best deal.
Receipts are key
Thanks to the current situation, most shops have extended their returns policy for items bought in-store or online. So, when you buy something you have plenty of time to think through the purchase and return it for a refund if necessary. Not only this but if you are buying for somebody else why not try using a gift receipt. This will benefit them if something is not right.
Your options
Having some sort of financial hangover is never great. Feeling stressed or worried about your money will hold you back and could even negatively impact your mental health. Therefore, if you see any irregular spending habits occurring in your transactions over the course of the upcoming month or so we suggest taking a closer look. We do not want you to be forming any type of bad habits just before the new year.
But, if you find yourself needing a quick sum of money, here at LoanPig we are happy to help, even if you have bad credit. For more information click here.