It’s (unbelievably) already come around to our bank accounts least favourite time year. The Christmas season is upon us – which ultimately means spend, spend, spend. Decorations, food, gifts and all the trimmings which we absolutely insist on every year, are all lovely but aren’t necessarily affordable. Christmas has been known to break the bank at the best of times, but this year, in particular, has created unimaginable situations for many, and circumstances that no one could have predicted.
Due to the pandemic, this Christmas is going to feel quite different for many of us – and being out of work or having a lesser income for whatever reason is probably going to add to that. 2020 has been quite the year, and indulging in food and buying gifts for friends and family feels like our right. We have created a short guide, to help you fund your Christmas efficiently, with some lifelong tips and strategies to make the festive period appear more affordable:
The main technique to most affordability circumstances – BUDGET and stick to it!
List (or spreadsheet) everything that yule need to buy – from food to presents – and set price estimates. Try to stick to this as much as possible and there will be no surprises for your bank account. Maybe set a bit aside for spontaneous gifts too – because you’re likely to come across something ‘perfect’ unexpectedly!
If you use any sort of loyalty/club card scheme, Christmas is a perfect time to cash it in and use it. Build up rewards all year, then use it to cut down your December spends as much as possible. No matter how big or small – it’s still less than you would have spent!
It may be late to try this option now, but it’s almost January, so you can begin for next year. A savings count dedicated entirely to Christmas! Pay into the account monthly ie £50 (or whatever will suit your December spend) and when it comes round to December you won’t have to devote your whole end of year pay to Christmas. You’ve probably heard of people buying Christmas gifts throughout the year to space out the spend – well it’s a similar idea but without prematurely guessing presents!
Remember – if the stress of Christmas is outweighing the cheer – then know when to rein(deer) it in. Find or make gifts that are able to fit within your budget – and if you need to avoid giving presents this year altogether then that’s fine too. 2020 has been different from start to finish – and no one is expecting a conventional Christmas!