Butler Finance
  • Home
  • Residential Loans
  • Business and Commercial Finance
  • Car and Equipment Loans
  • Contact Us
  • News

How to avoid a credit card hangover

4/12/2013

0 Comments

 
How to avoid a credit card hangover Between all the Christmas parties, gift buying and holiday activities, it's all too easy to wake up in January with a credit card hangover. Start thinking now about ways to practice safe Christmas spending and you may well avoid the New Year pain.

• Pay with cash

When you pay by credit you don't think much about the cost, but when you pay with cash or a debit card you have to know that you have the money before you can make the purchase.

• Resist impulse shopping

Before you hit the shops, make a list of what you need and then resist the urge to add impulse buys unless you really need them. Read catalogues and go online to find out where the best prices are before you leave home.

• Set a limit

When it comes to gift buying, nights-out or holiday activities, set a limit on how much you allow yourself to spend. Why not ask your friends and family if they are interested in starting Kris Kringle with a dollar limit. Also consider reducing your credit card limit down to the bare minimum to avoid the temptation to make purchases you can't afford.

• Get creative

As an alternative to store-bought gifts, tap into your talents and give the gift of your skill and time - babysitting, cooking, car washing, mowing, gardening, computer repairs.

• Be aware of interest-free deals

These are designed to trap you into high interest later on. Circumstances can change quickly and if you can't pay the balance during the interest-free period, you will be left struggling to pay higher interest charges.

• Spread your costs

Spreading costs out over the year makes it much more manageable. Try to shop for gifts throughout the year and take advantage of any sales. Put some money into a Christmas club account each week and re-acquaint yourself with good old fashioned lay-by.

• Seek advice

If you get into trouble with your finances, always ask for help sooner rather than later. We would encourage you to contact us for any assistance you may need to cope with festive season spending.

0 Comments



Leave a Reply.

    Archives

    March 2020
    March 2019
    June 2017
    April 2017
    February 2017
    January 2017
    December 2016
    November 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    August 2015
    May 2015
    April 2015
    March 2015
    February 2015
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    December 2013
    November 2013
    September 2013
    August 2013
    May 2013
    April 2013
    March 2013
    February 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    September 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011

    Categories

    All
    Interest Rates

    RSS Feed

Powered by Create your own unique website with customizable templates.