As the holidays are quickly approaching, many families are searching for ways to enjoy the season without spending past their financial limits. While this can be quite challenging, there are nonetheless a handful of sure-fire tips to maintain your liquidity and still enjoy Christmas. Let us look at five suggestions.
Withdrawing Cash Value from?Life Insurance?Plans
Whole or comprehensive insurance policies will offer you the ability to pull liquidity our of your life assurance plan to place towards larger purchases. This is taken from the death benefit associated with the policy in question. The withdrawal amount will primarily depend upon how much value has already accrued. This can be an excellent way to obtain the liquidity necessary during the holiday season.
Choose Short-Term Investments
During the latter half of the financial year, investors are quickly buying and selling positions. Thus, such a period can be seen as one of the most liquid in terms of quick profits. However, this does not equate to becoming involved with speculative ventures. Instead, seek positions which will afford a healthy return without presenting an overexposure to the markets.
As the temperatures drop, heating and energy costs will conversely rise. This is particularly a concern within the United Kingdom, as winters here can be notoriously harsh. Simple actions such as turning down the thermostat while no one is at home and turning off the lights when a room is not being used are both easy ways to save a substantial amount of money. These methods can similarly be used throughout the year.
Book Reservations in Advance
You may very well have your mind set on the sunny coasts of Spain or a round of golf in Florida to escape the doldrums of the United Kingdom. In this case, make certain to book any flight and hotel reservations well in advance of your departure date. Prices will rise notoriously as Christmas approaches. Planning at least six weeks in advance will enable you encounter more financially amenable packages. Like any service, use third-party providers to contrast different holiday packages. Many agencies will offer all-inclusive deals for both accommodations and airfare.
Do Away with the Credit Card (Temporarily)
As plastic does not have the same tangible feel as cash, we are likely to spend more if we are out and about with a credit card. Leave your card at home and choose to shop with a predetermined amount of cash. Not only can you avoid purchasing expensive (and perhaps unnecessary) items, but you will likewise realise that your bank account is much more robust than in the recent past.
The holiday season can be a bit expensive, but these methods are all excellent at enabling you to save a substantial amount of money. Interestingly enough, such approaches can just as easily be employed throughout the year. There is no single secret to saving money during what is decidedly one of the most expensive seasons. Still, a bit of prudence and foresight will enable you to truly be merry this Christmas!