It’s easy to enter December with that feeling of panic – especially when the shops are too busy to focus on the task at hand. The final straw is when a well-meaning friend tells you they have finished their shopping and also wrapped it all!
With this in mind, I have been thinking about how to get on the front foot when it comes to planning for the expense of Christmas. Like everything, the devil is the detail.
My first tip would be to get organised. Writing a list of who you have to buy for is a really good starting point and also helps to generate some ideas about what they might like. And if you don’t know, ask them. We’ve all received a gift we really have no use for, and most people would thank you for taking this honest – and efficient – approach.
Having a budget for your Christmas expenditure is also a great idea. Without this, it’s easy to overspend. There are likely to be different categories such as presents, food, travel etc. Forgetting even one area could mean that you’re massively in the red.
A financial plan-of-action doesn’t seal the deal entirely though – you have to have the willpower to stick to your budget. It’s easy to get carried away and pay out money that you don’t have. But remember, it’s the thought that counts and getting yourself into debt isn’t worth it.
Another perk at this time of year though is the multitude of discount days – they can really make a big difference to how much things cost. If you plan ahead, this can significantly cut your overall expenditure.
Also, don’t forget buying online can also ensure that you avoid the queues and stress of the high street during December.
This leads nicely on to my next tip – doing your homework. Researching and comparing prices online can help you get the cheapest deals, all without having to leave the comfort of your sofa. What’s not to love?
Honestly, having a plan in place is always crucial to stop costs from spiralling out of control. And while looking ahead to Christmas 2020 might sound a little scary, it will pay dividends in the long run. Really, the key is saving little and often.
Perhaps the easiest approach is to commit to putting a set amount of money away per month – this could even be one of your New Year’s resolutions! Using this technique will make the financial impact feel much less. At the end of the year, you’ll also have a nice pot of funds to spend without the stress or worry about where the money will be coming from.
For more information about any of the points above, please contact our friendly team on 01484 507771!