From The Straits Times    |

They don’t call it the season of giving for nothing. With Christmas just around the corner and New Year coming up, it’s easy to get caught up in the excitement and lose track of how much you’ve been spending on presents and parties. To avoid that post-festive season financial hangover, Visa offers some useful tips on how to spend your money wisely over this festive period.

4 savvy spending tips for Christmas

Set a budget – and stick to it
It’s easy to get carried away buying presents, decorations and attending all the parties your diary has been burtsing with, but be careful or you might find yourself spending way beyond your means.

Draw up a realistic list of all the events you need to attend as well as a budget that includes everything you need to buy and stick to it. Make sure to include some “safety presents” for those last minute situations and prioritise between your “must-do’s” and “like-to’s”. This will give you an idea of how much more you can comfortably spend throughout the rest of the month.

Using a debit card helps you keep track of your expenditure better since the money is withdrawn directly from your bank account with each purchase. Keep track of your receipts and check them against your bank statement. It pays to be organised!

Bag the best deals online
Instead of trawling the malls for gifts in the hectic pre-Christmas shopping season, you can leisurely browse through the best deals from the comfort of your own home.

A recent Visa survey found that 70 per cent of people prefer shopping online because it allows them to find and compare items easily, so make sure to browse across sites to ensure you get the best bang for your buck. Many online shopping sites also offer free shipping to stay competitive, so take advantage of that!

Keep in mind, however, to look for secure websites that have an address starting with the “http” prefix. You can also look for a padlock icon in the browser, indicating that your payment information is protected.

Book ahead
Christmas is also the time for getting together with friends and family, and if you’re going to be travelling, book your ticket online with your debit card and collect your ticket just before departing. Not only will this guarantee you a seat at a time convenient for you, it also means you can grab the best early-bird deals and keep within your budget.

‘Tis the season to all chip in
Hosting a Christmas party? Why not have a potluck? It will be in the spirit of sharing and even be a great conversation-starter when everyone unveils their dish. Not only do you save time and money, but it also means that everyone get to eat their favorite food!

Now all that’s left for you to do is relax in the knowledge that your money is being well spent and enjoy the festive celebrations!

Content provided by Visa Debit.

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