Christmas can be a busy and expensive time for many. People’s priorities often change from paying rent to purchasing gifts, family trips, food, parties and everything else that goes with Christmas.
Putting a plan in place is the best way to prevent rent arrears and financial pressure which can last long into the new year. Here are some easy tips to help keep you on top this silly season:
- Set a realistic Christmas budget, including presents (for each person), food, drinks, holidays (don’t forget school holiday activities) etc
- Use direct debit for rental payments (or have it paid direct from your employer if this is an option)
- Have a savings account for Christmas time and try to not dip into this throughout the year.
- Consider your rental ledger. You want to ensure you are always on time and in advance with your rental payments to put you in a good position to help secure new tenancies or even mortgage approvals.
- Communicate with your agent or landlord – always let them know what is going on if you do find yourself falling behind, this way they can forewarn your landlords they often rely on your rental payments to meet their financial obligations.
At the end of the day enjoy your celebrations, don’t stop buying presents but always remember the best presents and parties are the ones you can afford.