In the current economic climate it can be hard to imagine having a Christmas that you can afford as well as enjoy. The thought of Christmas can be stressful and leave us worrying about our bank-balance come January. The good news is you don’t have to compromise your fun to keep some money in your purse. Read these four simple steps and discover how you can have a wonderful, affordable Christmas this year!
1. Plan your budget
Set a total budget you know you can afford for Christmas i.e. how much you are able to spend overall – and stick to it! If you are able, set aside a certain amount each week between now and Christmas, so you build up a pot of money to spend. Now split your budget between all the things you know you want to buy e.g. presents, food, decorations, cards, entertainment. Then split this further so you know exactly how much you will spend on each item e.g. if you have 20 presents to buy and you have ?00 to spend you have a maximum of ?0 to spend on each present – more spent on one means less spent on another.
2. Think less expensive
Don’t be persuaded to spend more by a persistent child or by trying to ‘keep up with the Jones’s’. More expensive gifts will generally be no better appreciated than cheaper ones – and it can be fun finding presents on a budget. Here are some ideas to reduce your spend at Christmas:
- buy one present, pack of cards, decoration or item of non-perishable food each week up to Christmas to spread the financial burden
- make rather than buy cards e.g. buy a pack of card, use pencils, crayons, shiny stars, or even photos of the family or offcuts from old cards
- give presents that cost your time or talents rather than your money e.g. a promise to take the person out for the day or to cook them a lovely meal, a back massage, or something else you’re skilled in
- make more of the wrapping. The way a gift is presented makes a big difference and can make a cheaper present look much more expensive and special
- give a ‘promise to buy’ written on a nice card, and buy the present in the cheaper January sales
- club together with other colleagues, siblings or friends and buy a ‘mystery present’. Decide together the total spend on each present, then put names in a hat. Each draw out one name and buy just for that person. Agree when you’ll all put the presents into a sack, then each person receives one present
- set an agreed budget with your family e.g. ? per present, then enjoy hunting round for fun cheaper presents to swap with each other
3. Think ethical
In an age when we seem to spend huge amounts on presents each Christmas, use your money to better and more ethical effect. Buy gifts on behalf of friends and relatives which purchase something to make the lives better of those less well off e.g. Oxfam has a whole range of gifts for sending to the Third World starting at around ? for anything from school equipment to water tanks to goats!
4. Bonus tips
Unless you pay off all your credit card balance at the end of each month, use cash to pay for all your purchases – it’s much easier to see what you’re spending, and there’ll be no nasty surprises in January. Buy decorations, cards, etc for next Christmas in January when they are vastly reduced – and don’t forget about them by December! Start saving a small amount each month from January and you’ll have a substantial spending pot ready by next Christmas. With all your careful planning and budgeting, you’re now ready for a much happier and more relaxed Christmas – have fun!
Elizabeth Juffs is an experienced Success Coach, specialising in working with people who want to become even more successful in their career or home life and want a better work-life balance. She helps them build their self-confidence, manage their time, reduce their stress, and gain greater control over their work and their lives, so they feel fulfilled, healthy and happy.
For further help with organising your life, or making the changes you want to make, get in touch with Personal & Professional Coach, Elizabeth Juffs on 0115 925 2552, (+44 115 925 2552 from outside UK). Or visit her website and sign up for her free newsletter at http://www.elizabethjuffs.co.uk/
?Copyright Elizabeth Juffs 2009. You are welcome to use or pass on this article, provided it is used in its entirety, without amendment, and all links are retained and kept active.
Tags: affordable, budget, calm, Christmas, credit crunch, finance, personal budgeting, stress, stress management