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2023 is flying past! Christmas 2022 seems like only yesterday, but we are already nearer Christmas 2023.
Most of us don’t like to think about Christmas just yet. It feels way too early, and the sun is shining. But also part of our reluctance may be that we just can’t face the thought of all the hassle and – particularly this year – the expense.
The problem is that if we do bury our heads in the sand, and ignore the whole Christmas thing, we’ll suddenly realise it’s nearly December and we haven’t done a thing. And also have not been able to save money to do anything with.
So here are five ways to gently prepare for Christmas 2023 and hopefully make it your best Christmas ever.
One of the problems about Christmas is deciding what you are going to do. Families are complicated, and it can sometimes be difficult to make plans because everyone is waiting for someone else to start the process – and everyone has their own agenda. But you do need to know fairly early on where you are going to spend Christmas so that you can plan accordingly.
So it’s time for those family conversations. And try to make sure that you spend at least part of the festive season doing what you really want to do; whether that’s hosting Christmas for all the family, just hibernating at home with your own family, or going away somewhere completely different.
It’s always embarrassing if you get Christmas gifts from other people and you either haven’t got one for them, or your gift is very obviously a lot cheaper than theirs. So why not sort things out up front this year?
It can seem a bit awkward to initiate things, but probably everyone else will be just as relieved as you are. For example you could agree to:
Whatever you decide, you will then know how many gifts you have to buy and can start to plan how to pay for them.
One of the problems with Christmas is that it is so easy to get sucked into all the hype and end up spending far more than you intended. Which can lead to financial problems for the following months. It’s much better to plan your spending in advance so that you don’t get carried away.
Start by making a list of everything you might need to spend money on – for example gifts, cards, decorations, food and drink, parties and social events, travel and accommodation – and work out how much money you think you will need for each.
You may end up with an eye-watering amount of money but at this stage you are still in control of your choices. If you can immediately see that you won’t have enough money, it’s better to know now and start sorting things out, rather than run up a huge credit card bill at the last minute.
And if you don’t have enough money, you may need to rethink your plans. For example, are there things you can remove from your spending list, or could you leave them on but save money by spending less on them?
Another option that you still have time for is to see if you can raise more money between now and Christmas. This is another good reason to start the process early! For example, are there any opportunities perhaps to take on some extra work or offer services locally such as domestic help, odd jobs or something creative. Or do you have unwanted items you could sell? There is time to do this before Christmas if you can find your niche.
Whatever you decide to do after planning your Christmas spending, it makes sense to try and spread the cost of Christmas. For example, if you are reading this in July and know that your Christmas is going to cost around £600, you should aim to spread that cost over the next 6 months which works out at £100 per month.
It’s a good idea to put this money into a separate savings account so that you can access it when you need it but it doesn’t get absorbed into your normal day to day spending. Also keep a list of anything you do take from that account, so you have a record of how much you are actually spending on different aspects of Christmas.
It’s never too early to start your Christmas shopping! If you are putting money aside as we’ve just suggested, it’s fine to use some of that to buy things as you see them – as long as you keep a record of what you are spending so you don’t end up running out of money at the last minute.
But it’s a good idea to start Christmas shopping early. Not only does it give you plenty of time to choose gifts that people would really like, you can also save money by looking for the best possible price. Why not also wrap and label gifts as you go, so that you don’t have to do it all in December?
And it’s not just Christmas gifts that you can buy early. You might be able to pick up a bargain on last year’s Christmas cards and decorations as retailers clear out and get ready for the 2023 Christmas season. Also if you are hosting guests or spending a family Christmas at home, you can start gradually building up your food and drink supplies. Buying one or two extra items each week – such as tinned or dried food, jars, bottles and drinks – will gradually stock your Christmas larder ahead of the December rush.
We hope that our five Christmas tips will help you to start planning ahead for Christmas 2023 and save money in the process.
Do check back here soon for more lifestyle and financial tips from Loans 2 Go.
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