December is an expensive time of year. There’s not just Christmas to pay for but all things that accompany Christmas including Christmas parties and New Year too. And what if you have a family birthday mixed up in there as well?
It won’t work to just spend what you’ve got available in December. It’s so important to budget in advance, putting away just a few pounds a month so it’s not such a struggle. SwiftMoney announced that the average Christmas spend per household is £753. So we’ve come up with some ways you can pay for Christmas without the stress and struggle.
Set aside money per month
If you started in January and saved £30 per month, by December 1st, you could have £360 in your bank account. This will go a long way and will reduce the amount of Christmas stress by the time the big day comes along.
Buy gifts in the sale year-round
Whenever you see a Sale, either in a shop or online, have a look and see if anything jumps out at you. You can buy items in the sale in preparation for Christmas, and store items in your wardrobe for months. This also works for birthdays too.
Borrow the money you need
There are always things that stop us being able to save all year. Things crop up: the car breaks down, you’re getting married, you get made redundant, etc. These unexpected life events can make it impossible to put money aside every month. A short term loan or a credit card can help you out when you need it most. Family and friends are always willing to help out, too.
Make your own presents
If you’re a budding baker, or a DIY-crafter, it’s cheaper to make people’s presents yourself. A hamper of cookies will always be appreciated, and you can always make your own cards if you have the time. In a survey done by Swift Money, it was found that food and drink is the most popular gift to give at Christmas. So if you’re low on cash, a bottle of wine or homemade treat is a great option.
Use a cashback site
There are loads of cashback sites out there that give you up to 20% cashback on your purchases. This is amazing for Christmas as you’re basically getting money back into your bank account after you’ve spent it. Research the best ones before you join, and get discounts on all sorts of goods and products!
The word ‘Christmas’ shouldn’t always fill you with dread and give you a sinking feeling in your tummy. It can be easier than you think, and cheaper. Check out the infographic too to see how others feel about the festive period.