Christmas is just around the corner. This is an exciting notion for most, but the holidays can feel more like a worrisome burden than a season of joy if you are not prepared financially.
From presents to nights out, December is one of the most expensive months. It often feels like you must spend regardless of your budget, leaving you with no savings or even a little debt – what a lovely extra present!
Most Christmas money management guides will tell you to buy presents and save months in advance. But this isn’t helpful if you need last-minute Christmas money tips.
In this article, we will examine realistic ways to save in December and through the Christmas period, even if you have left all of the planning to the last second. Let’s get started.
Knowing how to budget for Christmas is helpful if you are planning in July, but it won’t help in December when the prices are all marked up.
You can make last-minute savings by being strict with your gift budget. Don’t feel guilty and buy expensive presents, instead, prioritise affordable gifts without resorting to a lump of coal!
You can slice your gift budget by:
Alongside exploring Christmas money-saving ideas, you should face your fears and make an assessment of your finances.
For many, the idea of taking a frank look at their bank is the opposite of festive. However, this will give you a realistic idea of how much you can afford to spend.
You might have more disposable income than you think. And if not, you can meticulously plan around your budget-needs so you have enough money to get to January payday.
Learn more about personal finances via the Polar Credit Info Hub.
DIY decor, crafts and baked goods are classic Christmas budget hacks for a reason. They cost less but still allow you to give gifts or bring an offering to a Christmas party.
Plus, you can turn the creation process into a festive tradition. Put on some festive tunes, gather your loved ones and enjoy making some DIY goodies together.
After all, flour and sugar are cheaper than store-bought cakes!
If you are looking for last-minute Christmas budgeting tips that tell you it’s okay to spend a little extra on home decor and patterned sweaters, you are in the wrong place.
While fun, these aren’t essential to celebrating and can cost you more than you would expect.
It is estimated that the average Brit spends around £600 at Christmas. So, if you don’t want to end up with this credit card bill, embrace a minimalist celebration.
Credit cards are a key culprit when it comes to overspending.
If you only take away one Christmas budget hack, make it this one: freeze your credit card.
We understand that this might not be possible for all readers. However, you can save a lot of money by relying on cash or the existing balance in your bank account, as with these options, you can’t spend money you don’t already have.
Can I use a credit line to do my Christmas shopping?
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For more helpful information about how to manage your money, different financial products or what we do at Polar Credit, take a look at our Info Hub.