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Leading up to Christmas it is easy to veer off budget, what with the seemingly endless gift lists, planning for parties and splurging on big ticket sale items.

In order to avoid the post festive credit card blues, planning and creating a budget well in advance will mean less debt stress in the New Year.

A few key things to remember:

  1. Try making it an all-cash Christmas. It is surprising what a difference a few $20 or $50 notes tucked away here and there can make when it comes to buying Christmas presents.
  2. Look through credit card statements to see how much is left to repay. While keeping this in mind, create a spending budget which also includes the potential interest, in order to be better prepared for the repayments.
  3. Implement a few tried and tested money saving tips such as doing a secret Santa with a cap on the amount spent, and asking those coming to the Christmas party to bring in a plate of food.

It will also help to squeeze in a few extra repayments to the credit card bill, mortgage or loan before Christmas, so that there will be less to pay off in the New Year, even if the Christmas budget goes off track.