With all the presents and lots of extra food to buy, many families can really feel the financial pressure at this time of year. However, being able to plan your Christmas on a budget may help ease some of the monetary concerns we can have about the festive season.
With the big day on the horizon though, now is the time to start properly thinking about what you need and what you can realistically afford. So to help you with this, we’ve put together some Christmas budgeting tips and advice you can use to ensure you have a memorable and affordable holiday.
It may seem obvious, but the sooner you start preparing ahead of time, the less stressful your December should be. Write lists for things such as food, drink, presents and decorations, as if you figure out roughly how much you will need before December, it’ll give you plenty of time to plan ahead, cut costs and work to a budget that suits you.
Think back to Christmasses gone by, it might be you’ve had a lot of leftover food you might have ended up wasting - which is also ultimately money wasted.
There are a few things you can do to avoid this and make your xmas food shops much more cost-effective.
With your gift buying, decide how much you are going to spend on each family member and aim to do your shopping on the major sales events like Black Friday and Cyber Monday.
Both are happening at the end of November though, so make sure you get your gift lists together soon so you can take advantage of the deals.
Decorations can be expensive, so why not make your own instead? From baubles, homemade Christmas crackers and even wreaths, if your decorations are looking tired from previous years it’s the perfect chance to make some more and have somefun with family creating them.
Find the best DIY Christmas decorations and how to make them here !
You don’t need to spend lavishly to make Christmas memorable! It can be better to make memories rather than spending a tonne on presents or going out. Use Christmas time to connect with family and friends - plan events and games and get creative with things like baking christmas treats, making decorations and Christmas caroling.
With the issues from the pandemic, spending time indoors for free isn’t just cost-effective, it’s more in line with social distancing and the potential additional safety or lockdown measures we could be facing.
Be sure to check out how Leeds Credit Union can help you this Christmas, from our Christmas Club account, Regular Saver account, Membership accounts there are plenty of opportunities for support available - take a look here. What’s more, with one of our loans we can provide additional financial assistance for Christmas 2020 with competitive and fair interest rates.
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