Of course, prevention is a better option than having to cure a debt problem. What are the best ways of staving off huge new year bills beforehand?
Planning ahead is the key thing here. Get into the habit of putting away a little money every month just for Christmas – begin as soon as you get your first pay cheque in January and don’t touch this stash unless you really need it for a dire emergency.
You could be truly savvy and buy all of next year’s presents in the post-Christmas sales – you should also be able to find gift wrap, cards, decorations and other festive items for a fraction of their normal price.
Limit your gift-buying to close friends and family so you don’t have to spend more than you have to on presents.
Try and avoid getting into debt this Christmas, but if you do, you could use a debt consolidation loan to help simplify your situation.
