Christmas can be an expensive affair – but the good news is that there are several things that you can do to try and cut or spread the cost of all the essentials, including buying Christmas gifts for your family and friends, putting on a lavish Christmas dinner, and everything else. The last thing that you want is to start the New Year with less money than you’d normally have, struggling to pay your priority bills or even worse – in debt that you can’t afford to repay. So, keep these tips in mind to help with cutting the cost of Christmas and managing your money over the festive period.
Borrow Wisely
It’s not uncommon for people to turn to short-term loans or increasing their overdraft around the festive period, but you should only do so if you are sure that you are going to be able to afford to repay it. The last thing that you want is to find yourself in financial trouble in January when reality hits and you realise that you perhaps borrowed a little more than you could manage. Use a service like www.loanpig.co.uk to figure out the repayments you’ll be expected to make before you take out a loan; that way you won’t get hit with any nasty surprises if you do turn to borrowing.
Consider Getting Second-hand Gifts
There’s absolutely nothing wrong with second-hand gifts and it’s usually around this time of year too when you can find some absolute bargains on sites like Facebook Marketplace, Gumtree, and eBay. If you want to gift somebody a games console, computer, smartphone, or television for example, then have a look around to see if you could find a second-hand alternative before you spend your money buying it brand new. Many people sell high-quality, fully working items in great condition just to free up space or make some extra money for themselves for Christmas. And, you could sell your own unwanted stuff to make some extra cash too.
Make Your Own Gifts
If you’re quite artistic and crafty, then you might want to consider making some of your own gifts for people this Christmas. Not only is that a great way to save money, but it also means that you can come up with unique, special gift ideas that your loved ones are going to really appreciate, simply because you’ve taken the time to come up with something that’s special especially for them. Artwork, knitted or sewed items, gift hampers, cross-stitch pictures or even baked goods all make stunning DIY gift ideas.
Stick to Your Budget
Finally, the best way to make sure that you don’t overspend this Christmas is to make a budget and stick to it. Make sure that you know exactly how much you want to spend on each festive factor; have a gift budget for each person that you’re buying for, one for food, and one for everything else.
Christmas is a time of joy and celebration, but it can also lead to overspending if you’re not careful. Keep these tips in mind to better manage your money this festive season.