The festive season is drawing close yet again. Every single day gives you thoughts on what to get for whom. You find yourself wanting to get something big for your loved ones or even charity.

However, in some instances you do not manage to get what you had planned to earlier. Year after year, you try yet you are just beaten. Well, do not blame yourself if this has happened for years, it is just because you might have adopted poor bank habits before Christmas that prevent you from achieving what you want. If this is your case, then you might just need the five common banking decisions to make before Christmas.

1. Consolidate Your Credit Cards

Focus your mind on how to cut down on spending from your credit cards. Credit cards are the bulk of the entire burden that accompanies you in the lead to Christmas.

Alternatively, consolidate on methods you can use to pay off your credit card debts. You can start by looking for a balance transfer with no interest rate charges or one that has lower interest rates. This allows you to make greater cash savings since you have less interest to pay to your credit card company.

2. Superannuation

Most bank managers have realized that a large number of their account holders do not think of consolidating their large funds into steady accounts. As a result, they end up losing their moneys in charges and rates. People who clear out their super account to their rate free account find themselves relieved of the hassle they have to undergo of doing all the paper work by themselves. Practicing superannuation is a sure way of saving up some cash before Christmas.

3. Build an Emergency Fund

The idea here is to build an emergency fund now so when Christmas comes around you can focus your money on gifts and decorations vs. scrambling to fix your car or home. Emergency funds are a big deal in your budget and everyone should have one.

Saving is always better than loaning and asking yourself  “Which bank account will suit me?” to save money with is much better than “Which online loan will suit me?”; always look to save before putting a loan - if you can’t afford it with case, don’t buy it. This rule applys to Christmas as well.

If you’re looking for a great bank to make some extra money on interest for you, try the Ally Money Market Account - I highly recommend it and use it myself. You’ll earn extra money from them than any other bank as they offer the highest interest rate.

4. Cut off Unwanted Subscriptions and Expenditure

Evaluate the amount of cash you use in a month to subscribe to various services. in addition, go ahead and check services that you have not used often during the beginning of the year and unsubscribe to it. This might seem as a boring an more restricting move, but once you bank account reads a couple more dollars, then you will feel the change the unwanted subscriptions have brought to you. You can then use the excess money to pay off your credit balance.

5. Organize You Financial Expenditure

Organize you monthly expenditure in such a way that you are able to trace where you spend each cent. This allows you to develop financial consciousness concerning your expenditure.

That’s a wrap! What other banking decisions do you know you have to make for the Christmas holiday?