There’s no doubt about it, Christmas can be one of the most stressful times of the year. Travelling to see family, getting presents for friends and family and parties. Far too often people come out of Christmas in more debt than they went into it. Now that’s not good at the best of times but in the current economic climate it’s absolute madness.
To ensure that doesn’t happen to you here are a few pointers for making your Christmas a happy, stress-free and financially neutral event.
1. Decide Who To Give Presents To
This should only be family and close friends. Make your list and decide what you’d like to get each person, then set a budget for presents – and stick to it!
Remember: you can make presents too – it really is the thought that counts.
2. Decide Which Parties To Go To
Sometimes there are too many to choose from or maybe you are expected to go to some parties and meals that you’d rather not go to. Whatever your situation, you need to decide early on which ones to go to and set a budget for each of them. Your budget has to include what, if anything you need to buy such as new clothes. Remember this though, people invite you to parties – not your clothes, so you are allowed to wear what you already have!
3. Decide What You Want For Christmas Day Itself
Is it just you, you and family or you and a large group of family or friends. Whatever your celebration you know you will have to cater for it (unless you decide to eat out, but that will really cost you). Again, set a budget, decide what you need to buy and shop around. There are many deals in supermarkets in the run up to Christmas, encouraging you to buy early or buy in bulk. If you don’t need huge quantities of something that’s on offer, buy with a friend so you both make a saving.
The only way to not increase your debt during the Christmas celebrations, or during any other one for that matter is to, yes, you’ve guessed it, SET A BUDGET. Pick a figure that you know you can afford and put the effort into planning for a great Christmas for you, your family and your friends.
Spend a little time to save a lot of money!
Great post. I completely agree. Most people get to the holidays and feel the pressure, or unhealthy need, to buy big for everyone (with no regard of how long it will take to pay it all off!). This is usually dictated by what the popular culture says we should give and not what you genuinely want to give someone. When we have to stick to a budget we have the opportunity to give in a more thoughtful way. Great post.
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