We’ve all been there. You’ve just bought another expensive dress that just ends up never being worn… a regretful purchase or you could say a money mistake. Christmas is especially full of these so let’s take a look at some money mistakes we’ve all made at Christmas. 

Paid subscriptions

Some are definitely well-needed and others are not well-used, they just drain our wallets slowly. It’s time to cancel those subscriptions and save. 

Not budgeting

We know budgeting can be haunting and tedious. Budgeting is definitely the first step to saving like a champ. Budgeting means breaking down your finances into what you need, what you want, and how much you’re saving.

Not comparing prices

Sometimes you don’t mind spending that extra £1.99 just so it can arrive quicker, but you definitely do mind spending an extra £5 on the same item when it’s cheaper elsewhere. Always double-check and compare online where it’s more affordable and trusted. 

Relying too much on Credit cards

Credit cards are like your own personal bank… until it’s time to repay. Trying to repay your credit card debt can feel endless and never-ending. Avoid overusing the card during the festive season to lighten those tiring debts. 

Taking advantage of pay later 

Shopping has never felt easier with the evolution of buy now, pay later, however, if not tracked carefully these can stack up adding to another big debt. 

Last minute buying 

Either you didn’t know what to get or you just didn’t have ‘time’. We definitely all have been there. The sad truth is that stores know this and take advantage of increasing their prices. Avoid the price increase and shop in advance, planning early can save more than you think.

Money mistakes happen. Identifying money mistakes is the first step taken to control your finances.  

Money mistakes happen there is not something to hide they’re especially things you haven’t done alone. Want more blogs like this check out our other blogs or us to share more money mistakes let us know!  – info@advancecu.org.uk