Budgeting for Christmas
You may think I’m completely crazy talking about Christmas in march. People are still getting over the Christmas just gone. Yet if you start budgeting for Christmas in advance. You may not need a few months to get over it.
However there are a few ways to budget for Christmas without getting yourself in debt over it. Spending the rest of the year trying to pay it all off.
Its a horrible feeling waiting for November an decembers pay check to roll around. Then only to realise by the time you’ve paid all your bills there is not a great deal left over. So the credit cards come out.
Here are some of the ways I like to budget for Christmas.
Asking your kids this early what they would like from santa is madness I know. But having a specific budget in mind is probably the best way to start.
I always like to write down a list of each person that I buy for and roughly how much I intend to spend.
Then i like to write down how much I roughly spend on food and drink (the most expensive part for me).
Now I have a rough plan in place I can work out the best way to save up.
Saving for vouchers e.g love to shop
I absolutely love these. Over the past 10/15 years I have saved for love to shop vouchers. They can be used in loads of high street stores including Argos, Iceland and Boots.
There have been a few horror stories In the past of companies going bust and people not receiving the vouchers. Personally I’ve never had any issues.
I have always used park
They are amazing not only can you save for the love to shop vouchers you can also save for food and drink. The meat hampers are incredible.
With seriously low weekly payments they are perfect for those on a tight budget making Christmas less stressful.
Putting money aside.
If saving for vouchers is not your thing. Then putting money aside throughout the year could be an idea. Although I completely suck at this. Here are some of my tips on how to achieve this without dipping in.
- Open a separate savings account and set up a direct. Give the card to a friend or family member and tell them under no circumstances are they to give you the card until Christmas.
- Use a credit union. These are really good for those on a low income. They can even put a little bit aside direct from your wages.
- Get a savings jar/tin. These are really cool you wait till its full then smash it open. The ceramic ones are best. If you get a tin one I can guarantee the tin opener will be out before may. However don’t make the same mistake I did. I got myself a snazzy ceramic one filled it up with pound coins and ten pound notes only to realise they changed all the coins and notes over 2 months later, so I had no choice but to smash it open early fuming!!!
Saving at the supermarket
Another great idea to help with budgeting for Christmas is to save with the supermarket. The food shop at Christmas is always really expensive.
But did you know that some supermarkets help you to save?
With Morrisons you can collect saving stamps just hand your booklet over after each food shop and pay just £2 per week. It works out at about £100 if you start in the new year. A great help.
Asda do a savings card. The sky’s the limit with this one. After you have finished your food shop hand the card over and ask the cashier to top your card up. I usually put away roughly £3 a week but you can load it up with whatever you like. You don’t have to wait till Christmas to use it. Not such a good idea If your like me and keep dipping into it.
Im not sure about the other supermarkets. please let me know If you do.
A stress free Christmas (hopefully)
Hope you enjoyed This post. I know it’s a little early but there is no time like the present.
How do you budget for Christmas? Let Me know in the comments section