Tuesday, 10 November 2015

Top Tips For Christmas - Budgeting And Saving

We all know that Christmas is an expensive time. Research by YouGov in 2014 found that UK households planned on spending £861 on Christmas last year with over £600 on gifts. That's a lot of money.

With a bit of planning, some budgeting and some saving in advance it doesn't need to cost the earth, or get you into debt.


If you are watching the pennies at Christmas think of these important points.
  • Presents should be affordable - make a shopping list and stick to it. Don't go mad, work out what you can afford and stick to it. 
  • Do your research - use price comparison sites and shop around for the best prices. 
  • Cut our unnecessary presents - just buy for immediate family and close friends, and cut out buying for work colleagues, extended family and friends of friends because you feel you have to.
  • Spread the cost - put aside some money every month for Christmas presents. Many supermarkets have a stamp scheme when if you fill a card with pound stamps, you will get extra if you cash it in, in December.
  • Don't be a retail snob - young children don't value your gift on price or brand. Consider making gifts if you are creative as people appreciate the thought, it can be very personal and save you money too.
  • Don't panic buy - write a list and plan what you are going to buy in advance. 
  • Plan for next year - start putting a few pounds away on a regular basis in January and before you know it you will have your Christmas shopping sorted. Buying in the sales can also save money, as well as spreading the cost over the whole year.

Tell me what are your top tips for budgeting and saving for Christmas?

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14 comments

  1. I start buying presents in September so I can spread the cost as I love spoiling my family. I also buy things in the sale if I see something I think someone will love, even if it means keeping it for a year! x

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  2. Great advice, I even go as far to ask the cash for the kids. That way I can buy what they need and we don't have lots of toys that wont get played with.
    I also say the food shop should be done the same way.
    Thanks Mel, great tips xx

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    1. It's easy to get lots of gifts you don't want and need.

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  3. These are great tips! I'm actually making a shopping list today so perfect timing. I agree on the making gifts idea if you have the time and creativity x

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    1. I am not the most creative person but I love cooking and even I can make some home made chocolates as gifts :)

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  4. My biggest tip - Make a spreadsheet! I have a spreadsheet with everyone's names on who I buy for, and put how much they've cost, and whether or not they are wrapped up on it too. It helps me keep my spending in check and means I don't forget anything! I tend to start shopping in September haha, so it helps. I use an app on my phone so I have it with me at all times, makes life so easy!
    www.kittyramblesalot.com

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    1. That is a great idea Kitty, very organised.

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  5. I'm not very good at saving money at Christmas but your advice is pretty good, Cutting our unnecessary presents would be a great idea. I do tend to have a bad habit of buying way too many people a gift, like the postman, neighbours and more lol x

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    1. I think if you are on a budget, buying for essential people is a top tip.

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  6. Thanks for the tips - Im dreading all the shopping!

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  7. I have problems with saving but I must learn to budget and your post is very helpful thank you x

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    1. Don't spend what you don't have - if we all lived with this idea then there wouldn't be so much debt.

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