Christmas is an expensive time of year, extra events, food and presents can really blow out a household budget. So how can you celebrate the way you really want to without losing sight of the your financial goals?
This seems pretty obvious but a lot of people forget to budget for Christmas until it is looming. Start a dedicated savings account for all your Christmas expanses, work out how much you need and start saving for it starting in July to September till Christmas. P.s don't forget to include extra fuel and food expenses in this account.
Don't forget to include your rewards program savings.
Whether you take advantage of the many great layby schemes available from July onwards or you buy them and store them yourselves, it is always a good idea to be prepared for Christmas presents in advance.
I personally do both, buy some things in advance when they are on special, sometimes I buy things at the boxing day sales for the next year and also save money to buy things like clothing closer to the date.
Also consider what they really need, i personally like to use a rhyme to make sure i don't get too caught up in the present buying.
‘Something they want, something they need, something to wear and something to read.'
We've all seen and heard of Christco and it is a great idea but it is also way overpriced. Instead consider making your own Christmas Food Hamper.
Not only will this way save you a ton of money but it will mean you can buy the things that your family really like.
A storage container and a few items a week, come Christmas you'll have more than enough to get you through the Christmas period without blowing out your food budget. I start mine in September every year and stash snacks and pantry items buying on clearance and reduced where possible it saves me hundreds and means i can afford to give my family more of what they want making our Christmas really special!
Some things to consider including in your Food Hamper are; Snacks and treats, drinks of all kinds, easy sides of meals, gravy, uht milk and custards, cereals and other pantry staples for your Christmas feasts and holidays.
So that's it! Let us know if you've found these tips helpful!
Disclaimer: The author is not a financial advisor and the information provided is general in nature and was prepared for information purposes only. This article should not be considered to constitute financial advice. Accordingly, reliance should not be placed on this article as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation.