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It can be a very difficult time of year for many people. But does Christmas necessarily need to destroy your bank balance? Or can you take steps to have a more frugal festive holiday?

I have been celebrating the Christmas season for over 30 years now, and one thing I’ve learned over that time is Christmas is about one thing. And that is being surrounded by the people you love (and eating way too much food).

So you really don’t need to spend a fortune to have a fantastic Christmas, and these 4 ways will demonstrate how you can do frugally and for less cash.

Recommended article: 12 Days Of Spectacular Frugal Christmas Tips

Plan Ahead of Time
You should consider running your Christmas like a business. I don’t mean you need to fire Grandpa for falling asleep after dinner, but instead, keep a tight watch on the spending.

And the best way to manage the Christmas finances is to plan, and in order to do this successfully, you need to start early.

The more planning you do the more money you can save. Much like a business would, you should ensure you have everything planned with military precision. That way you are left without costly last-minute surprises.

And the more time you have to plan, the more creative with your spending you can be. You could even start thinking about making some gifts yourself, experimenting in the kitchen, or even getting your gift wrap and crackers the year before.

Did you know gift wrap and crackers are usually 75% less than retail price just a few days after Christmas day?

Save the Year Before
If you really want to have a positive impact on your finances start setting aside money for Christmas the day after. And yes I mean the day after Christmas for the following year. A little saved often is far less impactful both on a physiological and practical level.

It also means that you can afford some treats over the festive period. It is all well and good living frugally, but everyone needs to let their hair down with a drink and something nice to nibble on once in awhile.

Set aside a few dollars each week over the course of 50 weeks building up to Christmas. Even saving just $10 a week will give you a nice $500 package for the holidays.

Shop Smart
When you’re thinking about Christmas gift ideas you should make sure what you are buying is not too expensive. Don’t get carried away and try to think outside the box.

Practical gifts are often way more affordable.

And let’s be honest, far more useful in the long term.

You don’t necessarily need to buy socks and pencils, but something that is useful will be much better and definitely worth the money you do have to spend.

Recommended article: 13 Wonderfully Awesome Christmas Gift Ideas For Men

Cashback
You can’t escape the fact that Christmas is a time of year when you need to spend money. But if you really want to be frugal, then make sure you are getting some of that money back.

Cashback is a great way to get back 2-10% of the total purchase price – and there are countless providers offering this service.

TopCashback has been one of my favourites for many years now.

And if you need to spend the money anyway, you may as well get something in return. If you are spending a total of $1000 on gifts over Christmas, and you are able to get an average of 5% back for all purchases, then that’s $50 for your wallet.

And you can always double down on the savings by searching for discount codes and promotional offers as well.

It truly is a lot easier to have a frugal Christmas than you may think.

Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.

One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.

Business Loans In Canada

Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.

1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general

2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing

3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company

Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!

A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!

When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.

How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.

Three basics always emerge when it comes to your search for the right business capital and financing.

1. The amount of financing you need

2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders

3. How the financing is structured to be manageable with your day to day operations

What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business

Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:

A/R Financing / Factoring / Confidential Receivable Finance

Inventory finance / floor planning / retail inventory

Working Capital term loans

Unsecured cash flow loans

Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.

Royalty finance

Asset based non bank business lines of credit

Tax credit financing (SR&ED bridge loans)

Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.

Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.

If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.

Stan has had a successful career with some of the world’s largest and most successful corporations.

His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.

Small Business Consulting Opportunities Are EndlessIn reality, anyone can become a consultant. Small business consulting opportunities today are endless. If you have an area that you are extremely knowledgeable in and you have the drive and passion for excellence, you could become a consultant.Many of the small business consulting opportunities do not require any special training. For example, if you are really good with computers, the software they use and network security, you could become an IT business consultant. Perhaps you are very creative and knowledgeable when it comes to marketing. You know how to take a product and make it sell. You could become a marketing consultant.There are a few things you should keep in mind when browsing the small business consulting opportunities available. The first thing to consider is the qualifications that are needed. Is the area you are considering something you could call yourself an expert in? Are you familiar with the current information that is needed? For instance, when it comes to becoming an IT consultant, you would need to be knowledgeable with all of the current computer information. Technology is constantly changing and you have to know all of the up-to-date information. Another thing you need to check on is if there are any special certifications or licenses that are needed. While some companies may not require you to have a degree in a certain area, they may require you to be certified. Organization is another key factor when researching the small business consulting opportunities. You need to make sure that you are able to handle time management and be prepared when you enter into a situation.Small business consulting opportunities are readily available to those people who are critical thinkers. A consultant is known as a problem solver and in order to solve issues effectively and efficiently, a person has to be able to demonstrate problem solving. A consultant works side by side with the business, therefore communication is important. A successful consultant must have excellent communication skills. They also need to have leadership skills. A consultant has to lead a company to success, and in order to do this, they have to lead. When a consultant comes into a company, the people there are relying on them to take their company to the top. The consultant has to take the lead and run with it, take control of the situation.With so many small business consulting opportunities in many different areas, pricing is very important. A consultant needs to know how to set an hourly rate if their services are used by the hour. If a company uses them on a day to day basis, then the consultant needs to know how the prices for daily rates. Some companies will need a consultant to help with projects. If this is the case, a consultant needs to know how to bill their client by the project. When a company uses a consultant on a monthly basis, then the consultant would charge a monthly retainer. A small business consultant usually makes a substantial amount of money and pricing is the key element into turning those small business consulting opportunities into a success. Many consultants will require their client to pay a deposit beforehand. There will be occasions where the consultant will pay for expenses out of their own pocket. It is important for them to know how to get reimbursement from the company they are working with.There are many areas of business, making the small business consulting opportunities endless. A great consultant has to have knowledge, passion, and understanding. There are thousands of people who have knowledge that they didn’t even know existed. Once they tap into that knowledge, educate themselves even further and put that knowledge to use by helping others, they are considered a consultant. A business consultant is the most sought after because there are companies developing all over the world.One of the best small business consulting opportunities is being your own boss. You can set your own hours and pay, which makes you the boss. Of course you have to work certain hours, especially when helping a company with a project, but you basically are in control of that also. You just have to determine when the project needs to be done and how many hours it will take you to complete it. In reality, you have the most control over your work schedule when you become a consultant. You set the prices you are to be paid, and if you are an expert in a certain area, it is up to you to make sure your prices are set to what your time is worth. You are in complete control!If you would like to know more about small business consulting opportunities, you can click the link below to find out more information.