With the cost of pretty much everything rocketing at the moment, you might be starting to worry about the cost of Christmas too. So, let’s have a look at ways of keeping the costs down this December.
Say NO to the Christmas Party
If your work is having a Christmas party and money is tight at the moment, there is no obligation for you to attend. Don’t feel guilty or ashamed for saying no.
If you are an employer, you might want to consider not hosting a Christmas party at all, and instead offer a cash bonus for your employees. Even when it’s ‘all expenses paid’, members of your team will still have to find ways to pay for things like taxis and childcare.
Only Spend what you can Afford
Social media has only increased the pressure we feel to ‘keep up’ with other people’s lifestyles. Try your best to ignore what you see online… you don’t know the reality of people’s finances, only what they project.
Many people feel pressured to spend beyond their means at Christmas, but is one day a year worth getting into debt for? No!
On that note, you should avoid buying things for Christmas on credit. You will end up stuck with repayments looming over you with interest increasing what you already owe.
Don’t pay for presents using Buy Now Pay Later financing, as this only encourages you to spend more than you can actually afford.
Stick to a Budget
Keep track of your spending and stick to a budget. It can be easy for your spending to get away from you, especially if you’re someone who’s easily tempted by the promise of a sale.
It’s a good idea to work out a budget and stick to it. Your budget should include the cost of presents, food, decorations, etc. You can make a gift budget by creating a list of the people you want to buy presents for and then allocating a maximum amount to spend on each person.
At the end of the day, it’s the thought that counts not the price tag.
Secret Santa
You can also cut down on costs and also create some fun by turning to Secret Santa. This is where instead of buying gifts for each individual, you all draw a name at random and have to buy a gift for that person. This is a great idea for a group of family or friends and really helps keep down the cost, as you will only have to buy one gift rather than lots of them.
Avoid Separate Orders
Plan your gifts so that you can try to pay for fewer delivery fees. There’s no point having 3 separate deliveries from the same company and having to pay 3 different delivery fees when you could buy it all together.