Tips – Budgeting for Christmas 2020

Christmas is almost here and shoppers everywhere are getting ready for their annual shopping spree. While consumption seems the name of the game at this time of year, it is worth considering some ideas to make sure the spending doesn’t get out of hand.

1. Have a budget.

This sounds simple, but a large number of people hit the shops each year without one. Decide the essential people you really need to buy for and shop around for the gifts that suit your budget. Try not to rack up the credit card by keeping a close track of your spending.

2. Being thrifty has always had slightly negative connotations, but it shouldn’t.

Not spending more than you have to is a skill worth cultivating. Check out several stores before you buy as prices may vary, save a little in advance over the year for the Christmas spending, only buy what is required when the time comes. Don’t be tempted by Boxing Day sales unless you really need something.

3. Consider cutting down on the number of gifts you buy each person.

It’s far better to buy one nice present, rather than lots of small ones that might cost more. Tell the kids to manage their expectations this year – training them about the real meaning of Christmas early is probably a good idea. Ask them to write a list of five things they really want (within limits), that way you can be sure to choose one thing that will make them happy without breaking the bank.

4. Handmade gifts are all the rage.

Consider giving someone a babysitting voucher (for your own services), make your own wrapping paper and cards, try baking a cake or cookies to present in a nice jar. Giving some a gift you make yourself is a touching gesture of kindness.

5. Relax.

Christmas shouldn’t be about how much you spend on people, it’s about getting together with friends and family for a reflection of the year that has past and a rest before a new one begins.