Here's how to banish your Christmas financial demons and get on top of your spending
If you are anything like me, Christmas brings a myriad of emotions. A lot of us love Christmas and are experiencing a sense of anticipation and excitement for seeing family and friends and spending time together. But for some of us these positive feelings are accompanied by other, more mixed emotions. This year, especially, with the cost of living crisis, there may be emotions such as stress….. anxiety…. Not to mention the underlying stress of juggling family responsibilities, shopping, cooking, and all the rest.
But it doesn’t have to be like that – here’s a few tips on how to enjoy the festive season without breaking the bank.
1) Set a Christmas budget
I know, its not our favourite activity, but setting a budget you can realistically afford can really help. List you key spending categories – gifts, meals and activities. If the amount seems too high don’t be scared of talking to family members and setting realistic expectations. Budgeting apps like YNAB (You need a budget) or Emma, can help with tracking your expenditure.
Don’t forget to leave some room in your budget in case something unexpected comes up like an unexpected trip over Christmas to care for relatives etc.
2) Use canny shopping ideas
Cashback sites like Topcashback or Quidco, or even browsers such as Honey, which search for the best discount codes and give cashback.
You don’t have to go for the most expensive gifts. You don’t even have to shop new.
Try and avoid impulse purchases and plan in advance – there can be great stuff on Vinted or in charity shops.
Use shopping comparison sites for online shopping – Pricerunner or Kelkoo.
Group gifts or Secret Santa are a great way of having fun and keeping costs low. Martin Lewis has some great ideas for presents under a fiver here.
3) Thoughtful beats expensive
Sometimes thoughtfully purchased, or handmade, gifts which really reflect the recipients interest, are far more valuable. Or even give gifts of your time- dogwalking, or babysitting for example.
By getting your plans sorted ahead of time, and focussing on what really matters over Christmas, you can hopefully have a more peaceful and stress free time which doesn’t break the bank and is in line with your broader financial goals. After all, Christmas is not about the money, its about spending time with the people we care about.
And finally, here’s my free flyer of tips and tricks to help stretch those pennies, from comparison websites to cheaper cooking options.
Have a fun festive time!
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