Setting budgets can prevent Christmas debts

Mon, 19 Dec 2011

Consumers eager to avoid falling into debt this Christmas may be wise to set strict budgets when it comes to their shopping over the festive period.

Hilary Bruffell, co-founder of Make It and Mend It, a financial advice website first launched in January 2009, said it is very important for people to plan beforehand, as it is difficult to avoid big spending - be it on food, partying or alcohol - over yuletide.

The industry figure observed: "If you set a budget and plan your shopping, making and preparing in advance you can save a lot of money."

Another way in which families may wish to save the pennies is by attempting to make food themselves.

Ms Bruffell explained it will work out much cheaper for individuals to invest some time and effort in preparing their own nibbles rather than splashing out on ready-made goods.

She added carrying out shopping duties online can prove beneficial because consumers are much less likely to indulge in last minute deals that result in people spending more money than anticipated.
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