5 Tips to spend less at Christmas
Christmas is fast approaching and only 3-4 pay days away (assuming you are paid monthly).
People often get into debt at Christmas so it is important to plan ahead and not face the New Year with a mountain of debt.
The average family in the UK spends approx. £3240 in December which is more than 30% in any month of the year.
Plan your spending in advance
Firstly know your budget and stick to it before you hit the shops.
Only bring cash with you as that way you can see how much you are spending. If you use a debit or credit card you can often ‘forget’ how much you spent
Prepare a check list with an excel spread sheet if you are computer savvy and list all the items you think you need which can include Gifts, Decorations, Food, Drink, Wrapping paper etc.
Set a price limit on gifts for family and friends
For many people they want to buy gifts for family and friends. However the cost could get out of control. So why not set a price limit on the value of the gift. After all it is the thought that counts. I have always said you get the same thanks for spending £10 or even £100. With the high cost of living this is one area that could get you in debt if you are not careful.
Speak with family and friends and agreed that this year you will each only spend £x amount per person. This will mean that people would have to give more thought to the gift.
Also you could agree only to buy for younger members of the family – this again would keep the budge low.
Give a Home Made Token
This is an excellent idea especially if you do not know what to buy the person who has everything.
You can make a mock up voucher and print it off
You could offer the following
- Offer to take their dog for a walk once a month
- Offer to cook diner once a month
- Offer to babysit once a month
You could also consider making the Voucher an IOU for later in the year. Maybe offer to take the family out for a special meal in January – when Restaurants are less busy and could offer greater discounts.
I am sure you can think of more. This is a more personal and thoughtful gift that would last all year and something people would appreciate
Recycle unwanted presents
We all get gifts we do not use or want. How many unwanted items do you have indoors that you never use.
So why not check to see if you have any unwanted gifts you could recycle to another person. However do make sure the person you are giving the gift to did not give it to you in the first place!
Use you Loyalty Cards
Many of us have Loyalty Cards so why not check out how much you have on the Loyalty Cards and use them towards Christmas purchases.
These are just a few tips which I hope will help with your Christmas spend and I hope you find them useful. I will be doing more blog posts on Christmas during the next few months to help us all out.
