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Financial Tips for Christmas. Part 3

Christmas is here again and also the urge to spend. Your pay check will be arriving next week or in the near future. You have worked hard all year and you may or may not get a bonus.

During the Christmas season many consumers tend to exceed their budget and spend too much on gifts, preparations and festivities. By following a few simple financial tips, you will be able to enjoy your Christmas without having to worry about your financial state in January.

Caymanian Times wants you to enjoy the season and have given you 7 tips each week to consider before withdrawing that cash, writing that check or handing over that credit/debit card.

1) Keep track of all expenses.

2) Save your receipts. You may need to return or exchange an item.

3) Treat yourself this Christmas. Buy a gift for yourself that you can afford

4) Consider joining a Christmas savings club for Christmas 2014

5) Defer home renovations until the slower months of 2014. Labour costs will be extremely high during the season as the demand for these services increases.

6) Avoid discussions about money at the Christmas dinner table. This will help you to enjoy the holidays much better.

7) Give some cash as Christmas gifts to your children and place saving tips in the cash envelopes. Financial education is the key to financial success.

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