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Christmas Spending Means Saving Now
19/09/2007
Financial planners are offering tips for Brits who are in debt. They recommend saving a bit of extra cash now to help with the hectic financial crescendo before the Christmas party season.
Alison Hunt, the ‘Money Saving Tips’ columnist, advises deciding how much money you need to plan a Christmas party and buy gifts: “Now look at your budget and work out how much you can realistically afford to set aside each month or week. By stashing your money in a high interest account that pays interest monthly, such as Icesave (currently paying 6.2% APR) you’ll at least make a little interest on your cash.” Other money managers recommend offering tapas or appetizers for a Christmas party instead of inviting everyone over for a sit down meal which can be more costly. Hunt says: “When shopping, write a list of everything you need and stick to it. If you’re managing on a tight budget, why not ask all attending to bring a bottle of wine?” Another way to economize is to buy presents only for the children in your extended family or swap names in a draw and buy a nice gift only for one family member or friend instead of all of them. That will help save a bit of money for the Christmas party and holiday season.  Click here for more on London's best events and Christmas parties.
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