It’s that time again.
So, let’s get our budget ready for Christmas.
So I know a lot of us are in denial but Christmas is coming. I’m sorry to have to break it to you but we only have 17 weeks left in fact I’m going to be harsh and tell you that you only have 3 more paydays left until Christmas.
I know it’s harsh to hear but it’s the truth.
So are you like me, you would’ve been budgeting for Christmas over the last two months, if not you like the majority of the country you haven’t saved a penny and you’re trying not to think about it.
Which ever type of person you are this blog post is to help you have a money smart Christmas.
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Before we start shopping for Christmas Gifts we’re going to do three important things –
1. We’re going to make a gift list and a budget and we are going to stick to it.
2. Follow my Facebook page Why? Because it has daily deals, discount codes and sales notifications and that’s what we need.
3. We are going to agree now that we will not be using our credit cards.
Who's On Your Christmas Gift List?
So firstly, let’s write a list of everyone who is going to get a gift this Xmas.
Once you have written this list, I am going to need you to be kind to yourself and bank balance and go back through it and cross off who you need to cross off and add those to your Christmas card list.
Days Until Christmas
Setting Your Spending Limit
Next let’s work out how much you have to spend on gifts in the first place. So, how much can you spare from each payday before Xmas?
For me personally, after I have paid all my bills and savings pots I have £56 left. So let’s just say over the four paydays I have £224 to spend on Christmas gifts.
Now your figures maybe lower or higher but after arriving to this sum you may want to return to that list and do some more crossing off. Just saying.
Now regarding that list, it’s time for you to decide which group each person will be in (it might be a good idea to dispose of this list afterwards as it may offend).
Create two gift groups one for gifts and one for cheaper gifts.
Oh come let’s be honest here, my Postman is great but he cannot get the same value gift as my children.
My cheaper gifts are £5 per person, minus the Christmas cards and the remaining is divided amongst the remaining group.
So as I said, “Let’s create those two groups”
I reckon you’re ready to start this Budget Christmas Shopping – We have our spending limit and the number of people that will be getting a gift in each group.
My scenario is £224 and 11 people/household* (Group A: 5 and Group B: 6)
Group A: £35.00 per person (£175.00)
Group B: £7.30 per person (£43.80)
Leaving £5 for Christmas cards.
It’s that simple.
Tips and Tricks to save money at Christmas
Money Saving Christmas Gift Ideas
Partial Gifts – So who said that we have to buy a whole gift? No one.
So if you have decided to buy a gift for someone who want something in particular, why not buy them a gift card towards that something?
Group Gifts – There’s nothing wrong with chipping in to get one bigger or pricey a gift for a special person. I don’t know about you but I would feel more comfortable knowing that my lovely gift wasn’t a financial burden on the purchaser. A lovely gift from several people is just as nice but without the worry and guilt.
Belated Christmas Gifts – Yeah I know it sounds dries as hell but have you considered asking for a list of four things that that person wants and then trying to get them in the January sales?
Now, I know what you’re saying or thinking Christmas is in December not in January however it’s worth remembering that the ‘so called’ January sales usually start by 9 pm Christmas Day. So, if you’re not too merry or knackered from all the days cooking and eating then this could be right up your street. There’s nothing like hunting bargains for your loved ones whilst on the sofa snacking on the buffet food.