This has been a hard year for a lot of us. Jobs have been lost, unemployment is at a three year high and a lot of us have missed out on government support during the pandemic. Christmas is a shining light at the end of the year, something we can indeed look forward to and there are already gifts on the shelves and adverts on the TV. The thing is, as much as Christmas is a time of celebration, one that we perhaps especially need this year, it often costs a lot. The food, the presents, the decorations. I’m here to tell you that you can do Christmas on a budget and still have the most wonderful time of the year!
Save Money For The Christmas Holidays
Start Planning Now
I’ve written before, many times and in lots of detail about planning for Christmas. We prepare for Christmas throughout the year by moving a few quid over to a separate savings account every week. Each Monday, an automatic transfer takes place and £9 moves from our current account into our Christmas pot. This means that come December, we don’t need to scrabble around trying to find money to pay for Christmas.
It’s already there waiting and we’ve cut down how much we put away over the last few years by 25%. We start with £12 a week but realised we didn’t spend this much. We’ve moved down to £9 a week and this amount last year still gave us a little bit left in the account to make January that bit more manageable. It’s a great little tip and one which can help you do Christmas on a budget, your budget.
Cut Back On Gifts
Christmas is a time for family but you don’t need to go over the top on gifts. Spending time together is the important thing you should be spending. Lots of gifts will be enjoyed and whilst appreciated, might be put aside or forgotten about after a few minutes. Christmas is one day and getting yourself into a financial situation you’ll find hard to get out of, really isn’t worth it. We get a lot of pressure and stress from children saying they want the latest new gadget and television adverts telling us what we perhaps should be buying.
However, the reality is that we all have a budget to stick to and whilst there are ways to stretch that budget, we need to stay without that to be comfortable. Don’t be afraid to buy gifts from charity shops, find them for the best possible price and have a conversation with a family member about not buying for them this year. We’re all in similar situations right now, facing a perhaps devastating year and it’s understandable that we may want to cut back our spends. Why not write a token for someone for a walk in the woods together. It’s a great Christmas on a budget idea! Pencilling in some time together is better than any set of toiletries!
Only Buy The Food You Need
We tend to overbuy food for Christmas. How much are you really going to eat? Tonnes and tonnes of food is wasted at Christmas so make a list of what you actually need to buy and stick to it. There is little point in buying four loaves of bread and 12 pints of milk when the shops are closed for one day! I’m not saying to not treat yourself, but again, spend what you can afford on what you want to eat. Some people I know don’t like the fuss of cooking a Christmas dinner and so opt for one of their favourite dishes which is much more manageable. Meaning they can easily prepare a tasty meal and then enjoy spending time together as a family rather than slaving away in a kitchen.
A lot is put on the Christmas Day meal, but again, it’s one meal. The tradition is basically a glorified roast dinner. You don’t have to have turkey. Christmas on a budget could be a cheap chicken. Enjoy a piece of gammon or some sausages. Buy in season vegetables and Christmas trimmings on offer to get more for your money. Again, don’t feel any pressure. Use the money you have and are happy to spend, to buy whatever food you want to actually eat. Is anyone going to use an entire jar of cranberry sauce? Is it needed on your Christmas table? Or could that extra pound be better used in your budget this Christmas?
How can you prepare Christmas dinner in advance?
5 Christmas Gifts For Under £5
Use The Decorations You Have
So many of us look at our Christmas decorations and want to add to it year on year. A new bauble or some extra lights. What you have is probably absolutely fine and it’s got some history to it as well. If you feel tempted to part with money for something new, hold onto that history and it will help you dig your heels in and hold onto your cash. Decorations can be overkill and they can cost a lot of cash. They’re available and advertised everywhere too. From supermarkets to garden centres. A small and simple Christmas tree is perfect for some people. Christmas can be full of extravagance and indulgence but it should really be about the people you spend it with. Especially this year.
Life is short and 2020 has made us see that, perhaps in a new way to ever before. With finances in a crippling state across the land, our one constant is our loved ones. A shared Christmas on a budget might feel lacking in stuff, but smiles are so much better than stuff! Enjoy a simple festive season with those you hold close. It might even be the best Christmas you’ve ever had!
