Managing the cost of Christmas
Let us help you to cover the cost of Christmas this year!
Love it or loathe it, one thing we can all agree on is that Christmas costs money!
You may have already started shopping for Christmas (or you might even be super-organised and have finished!), but if you do need a little help covering the cost of the festive season talk to us to see what we can offer you.
To save you some time and money (hopefully!) we’ve put together our top tips for stretching your Euros this Christmas:
- Set a budget – be realistic with what you can afford (not what you think you should spend) and stick to it!
- Start shopping earlier in the year. Not only can you pick up some pre-Christmas bargains but you can also avoid some of the stress of a last-minute dash (you could start this one in January for next year).
- Set up a Christmas cupboard (or press, depending on what part of the country you live in :D)- Make a list of who you need to buy for and whenever you see goods at bargain prices, grab them and keep them in this special cupboard. Just make sure you update your list and don’t buy twice for someone!
- Saving stamps from your local supermarket are a great way to spread the cost of Christmas over a longer period so you don’t feel the pinch come December.
- Pay with cash for less expensive goods where possible. Credit cards and store cards can carry expensive interest rates if you do not pay your balance in full at the end of each month.
- Kris Kindle or Secret Santa is a fun and economical way to exchange gifts especially when you have a lot of gifts to buy for family and friends. You can set an agreed limit on the cost of gifts, which may also be a welcome relief for all concerned.
- Chat to friends & family for free via the web – Use Skype or Google Hangouts to talk to family & friends abroad rather than phoning them on Christmas Day.
- Make it! A bit retro maybe, but homemade gifts can be just as nice, if not nicer than shop bought. Make cards with the kids, bake or make jams, make candles, create photo books ﬁlled with happy memories. The bonus with homemade gifts is you get to flex a creative muscle which is, according to mindful experts, great for relaxing and enjoying the present moment (no pun intended).
- Give charity gifts – Set a positive, caring example and give the gift of giving. Charity gifts start from a few euros and include school supplies, clean water or livestock.
- Start saving early to spread the cost – How much did Christmas 2018 cost you? A typical family spends €2,700 according to Retail Ireland (2018). That works out at around €225 per month for a year. If you can’t manage to save for the cost of Christmas, you could always ‘cut your cloth to suit your measure’, or borrow for all or some of the cost.
- Borrowing money can be expensive – If you do have to borrow money, do so from a ﬁnancial institution such as the credit union who will offer you ﬂexible repayment terms at competitive interest rates, and where you will not be penalized for early repayment. If you do need to borrow this Christmas, use our online loan calculator to see what the repayments might be with our 5.99% APR (variable) 1 year loan rate.
- Try not to become caught up in the ‘hype’ of Christmas, spend time with family and friends and remember the real meaning of Christmas. If you do ﬁnd yourself struggling ﬁnancially please contact your credit union or MABS (Money Advice & Budgeting Service) to discuss your options.
If you do find need some help covering the cost of Christmas this year, talk to us to see how we can help. We are delighted to help our members and tailor loans to suit you.
Why borrow from ASTI Credit Union?
- Super competitive loan rate of just 5.99% APR (variable) on loans up to €5,000 for a one-year loan term.
- No penalty for paying off your loan early.
- No set up costs or hidden fees.
- Free loan protection and death benefit insurance (subject to terms & conditions).
- Speedy loan approval.
- Repayment Protection Insurance available on your loan (terms & conditions apply).
- As you loan balance reduces, so do your interest repayments.
- Make repayments through payroll deduction (where available).
Talk to us today to see how can help with a Christmas loan. Call us on (01) 6750670, use our online chat function, or email us