Christmas is just around the corner with less than 100 days to go. Decorations are already filling the stores. But, despite all the fun, it's amazing how all the extras can cost a fortune. And with the festive season fast approaching, buying goods on credit or taking out a loan can become tempting.

It's time to plan for the extra expenses. Planning ahead can prevent overspending and is the key to a smooth-running Christmas, your best defence against Christmas debt.

Here are some tips to avoid over spending...

If you don't have any Christmas goals, writing a list and doing a budget can be the beginning of organising your Christmas spending

• Decide how much you will spend on gifts for each person
• Start shopping early for Christmas gifts and you will save time, money and stress!
• Lay-by your presents and pay a little off each week.
• Consider making gifts, relatives and friends appreciate the thought and personal touch
• Talk to family members about putting a limit on the amount you spend on presents or about having a Kris Kringle - where each family member buys one present for just one other person,
• Plan Christmas meals so they are cost effective consider buying non perishables early
• Consider carefully before increasing credit limits at this time of year.
• Avoid using credit cards for purchases unless you have the means to pay off the outstanding balance at the end of the month
• Some stores offer less for cash
• Consider opening a Christmas savings account to be better prepared next year - $10 per week will be over $500 by next Christmas
• Shop at the after Christmas sales for cards, wrapping paper and decorations ready for next year
• Remember this years spend on your credit card may become next years woes

Jocelyn McMillan, Kaye Norris, Chris Siemers, Linda Walker

Diversitat Financial Counselling

153 Pakington St, Geelong West

Ph: 5221 6044