Hello, we’re finally back with another blog post and this one is to help you get through Christmas by helping you stay in the black and not get in the red!! Christmas seems to be coming in faster and faster, it doesn’t help that Christmas is talked

about more and more the minute Halloween is over now! Some people are super organised while the rest of us put it off and then when we’re running out of time we throw caution to the wind and hope for the best. While this can work ok, for many of us without planning or budgeting we don’t actually realise how much we’ve spent. This can be dangerous financially as we may have over spent beyond our means and will have to endure the consequences long after Christmas. So here at Waterford Credit Union we have put some tips together to keep you out of the red this Christmas season.

Tip One: Make a list and check it twice.

Firstly, make a list of the people you have to buy for, if you have any idea what you would like to buy them jot that down and also how much money you’re prepared to spend on each person. Secondly, although it does seem early to do this, try and make a list of the food and drink you’ll need, and how much you can spend. This does allow you to be alert to the things that you will need and if you see something that is on offer, and then you can pick it up especially if the items have a long shelf life or a frozen item.

Tip Two: Cut down your numbers through Kris Kringle

Kris Kringle or Secret Santa can be used in all parts of our lives. It can be done within our families/siblings, friends, workplace, different clubs we are in and of course much more. This can really cut down the presents you have to get and of course this can cut down the money spent also. A budget can be in place to cut down on the amount that people are allowed to spend. Alternatively, agree to only buy for the children.

Tip Three: Look at prices online and offline and compare!!

We have all heard of online horror stories especially around Christmas so it’s important to be very vigilant regarding online shopping. Things to look out for are trustworthy websites, delivery charges (some of these are still very high), delivery times (will they get there before Christmas) and also be wary ordering from USA as many items can be brought in at customs and you will have to pay extra at your door step. Check out The Competition and Consumer Protection Commission Website to know your rights when you are buying Christmas presents. The website is: https://www.ccpc.ie/consumers/shopping/buying-online/your-rights-online/

Tip Four: Be wary of credit cards

Beware of taking out that credit card too easily. Credit cards interest rate typically range from 18% to 23% (ILCU Marketing Ezine 2017) That is a huge difference compared to a loan with a Credit Union!! So when you are putting things on yfor xmas blog – didley bit.jpgour credit card this Christmas, have a think before you do it!! That credit card bill will arrive in January and every month thereafter if it is not paid in full, so try and be mindful as it is very easy to use.

Tip Five: Stay away from loan sharks and high interest lenders

As we know Christmas can be very costly, and this year, more and more people find themselves tight for money. Loan sharks or other high interest lenders can come to your door and offer you money. It is very easy to slip into this especially if you are worrying about where are you going to get the money for the next couple weeks. It is very tempting but be very aware! An example of one interest rate was 60% and 187.2% APR. This is a huge difference to any other financial institutions, so avoid all loan sharks and high interest lenders at all cost.

Tip Six: Join our Didley Club for Next Year

Join our Christmas Diddley Account! For as little as €10 per week, you can save up to €500 by next Christmas, helping you to stay out of the red and enjoy your Christmas shopping with a lot less stress.

Above all, make the most of the time that you have together with family and friends. This is what is most important. We would like to take this time to wish all our members and followers a very Happy Christmas from everyone at Waterford Credit Union.

Waterford Credit Union – We look after our own.