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Christmas is fast approaching. For many people this is a really exciting prospect, but for others it just makes them feel stressed. And one of the reasons for the stress is lack of money.
It’s so easy to get swept up into all the hype about Christmas, and end up spending far more money than you planned. Particularly if you are hosting Christmas and having family or friends round. This can then have a knock on effect and cause financial problems that last way beyond Christmas itself.
But it is possible to enjoy Christmas without overspending. Yes really!
In this article we look at five ways to spend less money this Christmas :
In our earlier article It’s never too early to think about Christmas we explained the importance of setting a budget for your Christmas spending, then making sure that you stick to it. And even though Christmas is well on its way, there is still time to do just that.
Make sure you work out exactly how much you can afford to spend on all aspects of hosting the Christmas celebrations. For example, food and drink, gifts, decorations etc. You then need to make a conscious decision not to overspend and plan your spending carefully to fit in with this.
As part of this it’s important to reflect that Christmas is more about spending time with the people you love rather than spending money on them. So do your best to keep things simple and enjoy every minute of your time with others rather than get stressed about trying to make everything perfect.
One thing that can really help you to spend less money at Christmas is to agree your present strategy with friends and family in advance. It might be time to trim down your Christmas present list . . . . which is nothing to do with being naughty or nice! But do you still really need to buy individual gifts for everyone? Or – put another way – do you really want gifts from all the people that you currently buy gifts for?
Within the family you may decide that you will all only buy gifts for the children from now on. This will save everyone time and money, and ensure that the children still have their Christmas presents as normal. Another alternative would be just to have a Secret Santa for the adults if you want to, so that everyone just has to buy one present instead of several individual presents. Either way, make sure you agree a spending limit on whatever gifts you agree to buy.
The same applies to friendship groups. Many people are probably also feeling it’s all getting too much, it’s just that no-one wants to be the first one to say so. So be that person! Organising a Secret Santa not only takes the pressure off everyone in terms of buying gifts, but also means that everyone ends up with one nicer gift than lots of little silly things.
Once you have decided on everything you need to buy, you can cut costs further by shopping around.
For food and drink, different stores and supermarkets will have a variety of different offers in the run up to Christmas, so with a bit of careful planning you can make the best of all of them. Also when shopping, always check out supermarket own brand items rather than the brands you would automatically go for. They are usually good quality and could be considerably cheaper than other brands.
And for Christmas gifts, you have a wide range of shopping options. Again, look out for special prices, for example remember that Black Friday is on its way. Also check out store offers such as 3 for 2 or Buy One Get One Free.
Now is also the time to make use of any supermarket loyalty points that may have built up over the year without you realising. They could either help to reduce your bill or be exchanged for other items.
With a bit of careful planning, you can bag some bargains and cut the cost of your Christmas shopping.
Also when planning your Christmas presents, think outside the box. Literally.
Here are three alternatives to traditional Christmas gifts:
If you have a creative streak, why not put it to use this Christmas and make your own gifts? Whether you can knit, crochet, sew, paint, or make jewellery, a small hand made gift is usually much more appreciated than something off the shelf. So rather than spend money on mass produced gifts, make your own.
Perfect Christmas gifts do not have to be new. So, take a browse around local charity shops or antique rooms and you may be surprised at what you can find. Whether a piece of jewellery, a pretty vase or decorative mirror, there are lots of lovely gifts at a fraction of the new price. You could even combine a few bits and pieces into a gift box as a custom-made Christmas hamper.
If your finances are completely stretched, a great idea is to offer your services instead of giving a gift. Think of various things that you are good at and would be able to do for others – for example, cooking, DIY, gardening, babysitting, pet sitting. Then create a pretty gift voucher for everyone on your list, offering them a few hours of your time to do this for them. This can often be better than yet another gift that is going to end up not being used.
With every aspect of Christmas spending for your own family, think about the long term. Buy things that will last longer than Christmas and/or can be used again. A few examples of this are:
Ooh, and don’t forget to stock up for Christmas 2023 in January! You will find that almost every store slashes the prices of all its Christmas items, so if you have any money left – which hopefully you will if you haven’t been overspending – you can get a head start on next Christmas and save even more money.
We hope that the above ideas help you to spend less money this Christmas, and have a great time without throwing your finances into chaos. If you do need some extra money at any stage, remember that Loans 2 Go offer quick loans that may be able to help.
Do visit us here again soon for more lifestyle and financial tips from Loans 2 Go.
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