Plan ahead for a happy New Year

A CASEY charity is urging families to start preparing their Christmas budget now to avoid a post-Christmas financial hangover.
The warning came from the Brotherhood of St Laurence, operator of Casey, Frankston and Mornington Peninsula savings and financial literacy program Saver Plus.
Dawn Dalgarno from the Brotherhood of St Laurence said many families tended to overspend during the Christmas period and wake up in the New Year with a credit card debt that could take many months to pay off.
“We recommend families prepare a spending plan weeks ahead, including what they can afford to spend overall, what they need to buy, and how much they will allocate between gifts, groceries, holidays, decorations and any other expenses,” Ms Dalgarno said.
Other tips include shopping with a list, shopping around and comparing prices, DIY presents and cards, giving time vouchers as gifts, like a weekend’s worth of free babysitting or gardening, and getting the family to agree to only buy presents for children.
Participants in the Saver Plus program receive $1 for every $1 they save, up to $1000, to help them pay for educational items.
To apply families need to be earning some form of income, have a health care or pension card, and have children in school or be attending vocational training themselves. Families interested in applying to join Saver Plus can contact Dawn Dalgarno on 9781 5724.