Christmas can be an incredibly expensive time of year, and after the last 18 months of the pandemic, it can be tempting to try and do everything possible to make Christmas this year perfect.
The desire to go overboard on shopping during the festive season can get you inot serious debt.
To help you keep to a budget this December, the team at onlinemoneyadvisor.co.uk has put together some top tips on how to avoid getting into debt.
Get creative with decorations
Although it can be tempting to buy new decorations each year to fit with different themes and colour schemes, it can really start to add up and you’ll end up not making use of the decorations you spent money on the year before. Re-use decorations from previous years, and if you have kids, get them involved with making decorations (just go easy on the glitter).
Start your shopping early
Whether it’s buying gifts or filling your cupboards with all the seasonal snacks (is it even Christmas if you don’t go through an obscene amount of Quality Streets?) it’s always best to start early so you can spread the cost. This way, you won’t get to December and have to panic buy everything and be left with an empty bank account. Just make sure that you don’t delve into your seasonal snacks too early, otherwise you’ll have to buy them again.
Make party contributions
Christmas parties are always so much fun, but can definitely become expensive, especially if you throw more than one. Asking people to bring a bottle or to bring a plate are great ways to get the expenses down and you’ll be sure that there is enough food and drink for everyone to go round.
Get involved with Secret Santa
While we all dread Secret Santa in the workplace as there is the chance of having to buy for someone we don’t really know anything about, doing it within a friendship group is a great option if you’re wanting to save a bit of money. You’ll only have to buy one gift and it’s likely that your friends will be more than happy to save a bit of money too.
Make the most of discounts
Black Friday and Cyber Monday are fast approaching and are fantastic opportunities to get presents on a budget. Countless brands cut their prices by huge amounts, so there’s no doubt that you’ll be able to bag yourself a bargain.
Avoid trying to plan the ‘perfect’ Christmas
Christmas last year was an incredibly difficult time with lots of us being isolated from our loved ones due to lockdown restrictions, so it can be incredibly tempting to try and make this Christmas as perfect as possible.
However, it will only lead you to overspending and experiencing a financial hangover well into the new year.
First, establish what you can afford, and then create your Christmas around your set budget. You’ll soon realise that it’s not about the things you have, but more about who you spend Christmas with.