Spreading The Cost of Christmas
Christmas time is the perfect time to shower our loved ones with gifts and show our appreciation after a stressful long winded year. After all, who doesn’t love the magic Christmas brings? And as 2023 comes to a close and 2024 is just beginning the UK is still facing a financial crisis.
On the plus side, Christmas gives us a chance to celebrate and forget our troubles for a little while. It’s no secret that Christmas brings financial struggles for most families and the strain and stress can become too much especially with utility bills on the rise. Managing your finances in December can become difficult whether it be presents for the kids, attending Christmas parties, supplying the Christmas dinner or even just covering bills we’re here to help and provide some tips to spread the cost of Christmas this year.
Mistakes People Make When Managing Money
Shopping is meant to be fun but we suggest you prepare, try not to make an impulsive purchase, stick to your budget to avoid overspending and reduce the risk of ending up with too many gifts.
Include any accessories you may need in your budget such as wrapping paper and cards, although this might seem like a minor issue it can often leave a dent in your budget. Although you can grab them a little cheaper they do need to be included in this season’s festive budget.
You may want to recycle or reuse things you have collected throughout the year or maybe you have paper bags and ribbons you could reuse from last year. This is a great way to save money and stay on budget.
We recommend you avoid last minute shopping although it may seem like a good idea. It’s one of the worst ways to splurge, panic and end up over budget. Whether you’re shopping for presents or food, plan and shop in advance.
Tips For Spreading The Cost of Christmas
Save All Year Round
It goes without saying that saving a little each month throughout the year is a better idea than waiting until December. Your finances won’t be affected as much, especially if you’re already struggling. Saving as little as £10 or £20 a month will ease the cost of Christmas.
If you have the space then shop as early as possible even if you shop in the January sales ready for next year. Spreading the cost of Christmas can be much easier if you shop all year round, and eases your load the following December. If you do shop early, keep a list so you don’t end up buying double or forget what you have purchased.
Without sounding ungrateful there’s always at least one gift we never use or secretly don’t like so rather than letting them go to waste keep them and pass them onto someone else who will appreciate them, if you don’t want to recycle them by giving them to someone in the family sell them online and use the money to buy another gift.
Don’t Go Overboard
Although it may be tempting to shower your loved ones with gifts and be extravagant you don’t have to go overboard for everyone. One well thought out gift can sometimes mean more than 100 random gifts as the common saying goes it’s the thought that counts.