Avoiding a New Year financial hang over after too much Christmas cheer. (December 2009) Christmas should be a very happy time but many people link happiness with spending. The problem is it is easy to over spend at Christmas which can take several months to repay in the New Year and there is no need for it.  New year can be a new start but you should give yourself every chance of a new start by deciding to avoid the annual overspend as much as possible to help you have a Happy New Year.  There are a number of ways to do this.   Calculate in advance how much income you have to spend over the Christmas.   Make a rough or very detailed spending list of what you are going to buy/spend on food, clothes and presents. Comparing this list of what you plan to spend with how much income you have will show you in advance if you are going to overspend. This list will not take long to do.  You now know how much you should have to spend and what you need to buy which will help you make spending decisions.  When making purchases during December, whether for food, clothes or present shopping, try to use cash or a debit card rather than credit cards as you are spending what you have.    Spending cash is always better as you pay more attention to what you are spending so use the ATM rather than a debit card.  Plan what you intend to do over the holidays. If you finances are tight, why not avoid several expensive nights out and arrange to meet up with friends and family at home. It is just as enjoyable if not better.  Instead of staying in completely to avoid spending when you like to get out, why not plan a couple of outings such as dropping in on family or friends or a trip up the mountains with the kids. Free time is just that, free, and it should be enjoyable, so enjoy it!  You don’t need to be spending to be enjoying it. Just think back to your best memories, are they spending related?    Have a very Merry Christmas and a Happy New Year from all at Home Payments.