Christmas planning and shopping has well and truly begun! With so much uncertainty and events postponed this year, it appears everyone is longing for the joy and warm feeling that Christmas brings.

No matter how you celebrate the festive season, be it something low key or go for all the trimmings – it’s good to plan ahead and budget to prevent over-spending.

With Black Friday soon approaching, the American shopping tradition has very much hit Ireland over the last number years. However, this year in particular it is vital we support our own local shops. A lot of  marketing behind ‘Black Friday’ are from large scale businesses that will be there in years to come no matter what, the same cannot be said for our fantastic local businesses in Waterford and Tramore – unless we support them. There will be many bargains to be found locally at competitive prices too.

We have put some tips together to help you spend wisely this festive season!

Tip 1 – Make a list & check it twice (at least!)

Be like Santa and make a list!

Make a list of relatives you wish to buy for. Set an overall budget and also how much you intend spending on each person. It is very easy to get side-tracked, confused and spend more than what you intended to.

Also, list the food & drinks you’ll need and how much you plan to spend on them. To help spread the cost of festive food, stock up over the coming weeks. Take advantage of weekly specials i.e. frozen foods/long shelf life foods.

Tip 2 – Stick to your Christmas Budget

If you overspend in one area, cut back somewhere else.

Tip 3 – Kris Kringle / Secret Santa

As so many people are struggling financially this year, do not put yourself under pressure trying to buy for every family member and friend. Suggest doing Kris Kringle. Set a maximum amount to spend on each other e.g. €10/€20

Tip 4 – Shop like your Santa

Santa is always prepared and plans ahead! Some tips when shopping in-store..

• Set a time limit on your shopping – Get in, get it done and get out so you aren’t tempted to spend more than you want to.
• Shop at odd hours (after lockdown!) – Take advantage of extended opening hours and go when it’s less crowded so you can choose carefully without having to jostle for space.
• Buy less expensive stuff first – If you buy larger and more costly items first you can lose perspective on what is a good price, so set your budget, buy small first, and then tackle the big stuff so you stick to your gift budget.
• Limit your shopping locations – Only go to shops that you need to visit so you don’t get distracted and impulse buy.

Shopping Online

• Ensure to have your list to hand. When shopping online it is very easy to add more items to your basket that you do not need!
• Pre-pay – If you buy online, check if there’s an option to pick up in-store. You’ll save delivery cost, and there will be less temptation to buy more.

Tip 5 – Consider your Christmas Credit..

You may be tempted to use your credit card, use a buy now – pay later service or approach high interest money lenders. This can cost you dearly if you find yourself still saddled with Christmas debt well into 2021. Some loan shark interest rates go up to 187.2%. Talk to Waterford Credit Union about a low interest Christmas loan and only borrow what you can afford to pay back.

Contact our lending team at loans@waterfordcu.ie | 051-861 616

Tip 6 – Plan for next Christmas

Consider setting up a Christmas saving account with us in January 2021. It will help you prepare for next Christmas and enjoy your Christmas shopping with a lot less worry. By putting away as little as €10.00 per week you will have €500 by next Christmas.

It’s not all about money! Most importantly ENJOY Christmas with your loved ones. Relax and soak up the magical atmosphere around Winterval (starting 4th Dec), shop local where you can.

Give to those less fortunate – Spread the Christmas cheer by giving to those who are struggling. Consider donating to a charity. Many charities also accept household items, clothes and groceries at Christmas or, you could volunteer your time to help them out.

Rediscover the heart of Christmas, support local.

Waterford Credit Union – Parnell Street, Upper Grange, Tramore.

Waterford Credit Union is regulated by the Central Bank of Ireland. T&C’s apply.