We all know that the Christmas can cost a lot and yes, we all know that we should put aside some money every month so that we’ve got a healthy budget to spend in December. Adding a little to your savings pot after every payday certainly helps to spread the cost, that’s for sure.
BUT if you haven’t been saving all year (let’s face it, who has?) let’s work with what we have = three months between now and Christmas day. And that time can be used to spread out our spending on gifts, treats and days out.
So, let’s get planning right now…
Make a list
There are three lists you’ll need to make – who you need to buy a gift for, what days out or events you hope to enjoy during the festive period and what food and drink you’ll need if you’re hosting or entertaining over Christmas.
But don’t just make a list of who – find out what they want (or what you want to get for them) and then research the costs and allocate a budget. Once you’ve set a budget per person don’t go over it when you’re shopping. Prices can rise before Black Friday or shoot up when we’re getting close to Christmas so if something costs more than it should, try to find it at a better price elsewhere before you splash out.
Also, don’t get carried away by browsing the shops – choose a gift for each person and then stick to your list. Just buy one gift each week between now and Christmas in order to get through your list before the big day. Try not to buy anything that you haven’t already planned for, which will save you overspending BUT there are some gifts you should prioritise…
Spread the cost
Now that you know what your family would like for Christmas, you can start to shop straight away. If it’s a tech item, shopping now will help you to take advantage of the discounts on laptops and phones that are always available in September with the hope of getting university students to spend their loan on a new device.
Plus, gadgets tend to be a much bigger expense than most other gifts so you’ll want to spread the cost over as much time as possible. It’s possible to get PCs and smartphones etc using a gadget loan using a phone installment online service, or you can take out a contract to spread the cost – although, if you’re gifting it to your 18+ teen, you’ll probably want them to take responsibility for the ongoing bills!
Alternatively, if you don’t want to commit to repayments, you can check out refurbished tech items like I did. It’s possible to get the latest models in pretty-much perfect condition for a fraction of the brand-new price. ‘Like new’ phones have often just been unboxed but never used, so they’re not really secondhand, making refurbished gadgets a great option for cutting the cost of Christmas.
Time-sensitive purchases
One of the lists we made earlier is days out or events that you want to enjoy in December – which is especially handy if you’ve got kids to entertain during the school holidays. This can be anything from a local Christmas lights switch-on ceremony or a rustic Christmas market to a pantomime at the theatre or a ‘Polar Express’ steam train journey to visit Santa.
Now that you know what you want to do, many of these options will be time-sensitive. Most theatre shows and Grotto visits are already open for booking now so if you don’t book those tickets straight away, the panto may sell out and you might miss out on the event altogether.
Now, is the time to buy the tickets you need – so that expense is done and dusted – and then you can start to put aside cash for the on-the-day costs such as a mulled wine at carol-singing, a seasonal spiced latte, or an interval ice cream during that performance of A Christmas Carol.
Food and drink
We all like to have a few extra treats in the house over the Christmas period and there are often festive parties or family meals to host, meaning your food budget for the month of December can easily double. So, spread the cost by starting your shopping now.
Non-perishable items can be stored for months, so there’s no reason not to buy cranberry sauce and tubs of chocolates now – just check the use-by dates and snap them up if they’re good til 2025. You won’t notice the extra cost if you’re just adding a couple of extra items to your weekly food shop and by December you’ll have a decent ‘hamper’ of goodies.
I hope these ideas will help get you started on spreading the cost of Christmas. Please let me know in the comments below what tips you have for festive budgeting and saving money on gifts, food and days out during December. I’d love to hear your seasonal hacks!
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