A LOCAL financial adviser has set out a 100 day Money Plan to help avoid a financial meltdown this Christmas.

Warren Shute, who runs family-owned Lexington Wealth Management, and was named financial planner of the year in 2017, has set out simple strategies to get your house in order before the holidays begin.

Warren said: "I love Christmas but I won't let it spoil my year, dreams or goals.

"You should only ever borrow to buy assets, not create liabilities. It’s tempting to put everything on credit cards and think, 'I’ll worry about that when the bill comes.'

"With a little forethought, you can avoid the dread of checking your statements in the new year."

Cost-cutting suggestions include committing to only spending money on necessities in October (no-spend October), boosting your income by selling clothes and unwanted items through Ebay, and not spending money on presents full stop.

"Why not make Christmas about people, time and connections and not things" said Warren. "Spending time, talking and playing games with loved ones is the most valuable thing most of us can give.

"It doesn't need to be all about the money."