Five expert tips to help celebrate Christmas on a budget

As December approaches, you may already be feeling like your Christmas Expenditure It is getting out of control.

Although over-indulgence is practically synonymous with the holidays, it’s hard to let go and enjoy it if you’re battling rising costs of living all year long.

So, if your Budget‘With things being a little strict this year, we’ve got five expert tips to help you make the most of the festive season.

Create a detailed expense forecast

Without a team of elves to take care of the preparations, it’s up to you to get to work. Grab a pen (or open a spreadsheet or budgeting app) and note down all of your upcoming expenses. Put them in categories and set spending limits for each.

For example, you may have different limits on: food and drinks, gifts, decorations, cards and wrapping, celebratory socializing, and last-minute contingencies.

You can make your forecast in two ways:

If WealthThis is quite strict, it would be wise to take a slightly stricter second approach – Similar to zero-based budgeting system,

You may also decide to skip some categories altogether; Some more revolutionary ideas include a gift-free Christmas, an alcohol-free Christmas, or a zero-waste Christmas.

If you can, keep a small emergency fund stashed away.

cut down on gifts

Think like Santa: Make a list of everyone you’re giving gifts to (and how much you’ll spend), then check it twice to see who you can eliminate or reduce.

There are several ways to back off without causing offense or upset:

Be strict with your spending limits, as it’s very easy to spend more than a few pounds per person – in the end Enough Over budget across the board.

We all have reasons to overspend: perhaps it’s social pressure to not look cheap, or guilt over not being able to spoil our loved ones.

Try to remove a little emotion from your shopping process and stick to the list.

Set yourself a shopping deadline

As December progresses, we’re often prone to impulsive spending, and as the last-minute panic sets in, prices begin to rise – and so do delivery fees, along with the stress of whether it will arrive on time.

The best way to avoid this is to do your shopping early and stop when everything is off your list.

Setting a certain deadline around the middle of the month will force you to assess whether any purchases after this date are really necessary.

There will definitely be one or two items you really need, so it also helps to have a little money aside, especially for after-the-deadline purchases.

Get cashback wherever possible

If you’re looking for an easy way to cut 5 percent of your total spending, there’s still time to apply for a cashback credit card.

One example is the Amex Everyday Credit Card, which offers 5 per cent cashback (up to £125) for five months – although always check this is right for your circumstances and Remember how credit card debt can add up,

Or if you don’t want to take out credit for Christmas, creating an account on a cashback site like Topcashback or Quidco can provide different levels of cashback at different retailers.

Some personal bank apps also do this automatically when you use their card, like Monzo, while apps like Airtime can also help you manage your spending as well as saving.

It may only be a fraction of your total, but you’ll be grateful when you get the money back next year.

Focus on free experiences

At this point, you may feel like Christmas will be nothing but cuts and sacrifices.

So, it’s good to remember that gifts and food are only a small part of the big day.

Many of the best things — especially for kids — cost little or nothing at all, like:

Memories of celebration are more likely to be experiences than material things, so try to keep your focus on the true magic of the season.

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