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3 Smart Ways to Spread Costs for Christmas

Christmas is the one time of year when our spending tends to ramp up. It may be the season of giving, but you can still be generous while being thrifty. Here are some of best bits of advice for spreading Christmas costs.

1. Prepare to Save, Not To Splurge 

While it may be tempting to buy extra tins of biscuits, unisex gifts or bottles of booze for that unexpected guest, is it really necessary? We all tend to overdo it on the food, treats, and alcohol over the festive season, leaving us feeling like stuffed turkeys come January. By planning out exactly what you will need for over the Christmas period nice and early, and sticking to your list, you will avoid overspending. Sit down at home, when you have time to really concentrate, and make your list, based on what you need, not what you want. Try not to put down things ‘just in case’. There are still shops open around the Christmas period, so if you are really stuck for something, you can always pick something up.

2. Get Smart, Pay Smart 

If you’re planning on making some more significant purchases in the run-up to Christmas, such as a new household appliance or a festive holiday, you should consider looking into Bank of Ireland’s new instalment plan. It’s the perfect alternative to getting a small loan, allowing you to transfer a credit card purchase over €500 onto a lower rate of 6.9% Annual Percentage Rate variable. You can spread the cost of the purchase as you pay it off in 12 equal monthly instalments, rather than having to pay the full amount at the next payment day. Better still, it’s really easy to set up.

  1. Pay for your item (The item must be over €500 in value to be eligible) 
  2. Call 1890 251 251 before your next payment due date 

Are there any restrictions?

  • Only two purchases can be put on your Instalment Plan at any one time 
  • The total of all purchases you put onto Instalment Plan option can be up to a total of 80% of the credit limit on your card 
  • All other credit card transactions will continue to accrue at the standard rate of interest applicable on the account. You must be in compliance with the terms and conditions of use of your card 

Does it sound like a good option for you? Click here for more information. 

3. Shop Early & Often 

Start doing your shopping nice and early, picking up bits and pieces here and there, as you go. That way, you will not only spread the cost throughout the months building up to Christmas, but you’ll also take the pressure off yourself by avoiding the December rush. Make the most out of the sales, especially Black Friday, where you can get fantastic deals both online and in store. 

What are your tips for spreading the cost of Christmas? Let us know in the comments. 

This article has been sponsored by Bank of Ireland. Apply now for a Bank of Ireland Credit Card to avail of the Instalment Plan. Instalment plan is available on all Bank of Ireland credit cards with the exception of the Student credit card. Lending criteria terms and conditions apply to all credit cards. Interest is charged on cash advances and outstanding balances on your credit card. Purchase Interest is charged if you don’t pay your credit card in full by your due date.Credit Card Accounts are liable to Annual Government Stamp Duty of €30. Credit cannot be offered to anyone under 18 years of age. Bank of Ireland is regulated by the Central Bank of Ireland.


About the Author

Editor of eumom.ie, Mairéad Cahalan is a creator of content, a lover of music, red wine and coffee, and a part-time wedding singer! Find her on Twitter, Instagram, Soundcloud and LinkedIn.

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