Christmas debt - will you go deeper into debt?

[Deleted User]

Time for another 'sticky' post? (At least till after Christmas).

Christmas is coming. Following that are the New Year sales. For all those people already in debt and struggling, Christmas can be time of severe financial worry and stress.

Also, many people not in debt and struggling before Christmas, can very easily find themselves in this position in the New Year when the bills drop through the door and they then have to find the money to pay them. So this is for you too.

With a little careful planning, it may be possible to make Christmas more enjoyable and less worrisome financially, whatever your circumstances, and the idea of this post is so that people can help one another.

Feel free to add your own financial hints/tips as to what works for you in keeping within a budget for Christmas.

Some things that come to my mind worth mentioning are -

1. Communication. If you already know now that money is tight and you are wondering just how you are going to afford Christmas - it's time to COMMUNICATE *NOW* with your spouse/partner/family/loved ones.

This especially includes children who are old enough to understand. Peer pressure for the latest 'must haves' are a particular source of expense. By helping your child understand the situation, it may help take the pressure off you. Going without one thing does not have to mean going without altogether. Consider compromises.

2. If you have tiny children, they obviously do not understand the value of anything - so you can get away with spending less by going for any cheaper options. Most towns have £1 shops that sell all sorts of stuff. If people want to buy for them, consider asking for useful things such as clothing instead of toys.

3. If people ask you what YOU want for Christmas - why not ask for gift vouchers from your favourite stores?

4. If you are lucky to be in a close family, how about sharing the costs of food? (As well as maybe the work involved in cooking etc..) Ditto for friends/flatmates/neighbours etc...

5. Now is definitely a good time to start making lists. Start with a list of people you normally buy for and if possible, jot down what you think or know they want.

Then see who you can chop off from that list who are not ESSENTIALLY 'present-worthy'. People who really could perhaps just make do with a card. (Note the word ESSENTIALLY - this means people for whom not buying a gift for would have consequences grave enough make headlines!)

BE RUTHLESS. 'Wimping out' means your debt may increase.

6. When you have your list of ESSENTIAL present-worthy people, start listing what you think you can get them. If you are reading this you have access to the internet. As you have access to the internet you can start researching gifts (noting down any finds and websites as you go plus costs).

7. You may already know what your budget is. If you don't it's time to set one. Set yourself an overall figure for gifts, beyond which you will NOT go - and stick to it.

8. Forget buying 'frivalous' things such more decorations or lights, gifts for pets, pets AS gifts, dare I say it - FIREWORKS for New Year (unless you have money to literally burn) and things that come in huge fancy Christmas packaging the likes of which you can buy in the supermarket 'unpackaged' (i.e chocolates, chutney,jam).

Carefully look at the 3 for 2s and BOGOF offers. Many of these do save you money. Many however do not. What is point of buying 3 for 2 'fancily-packaged for Christmas' normal items you can buy in a supermarket and get more of as well?

Wouldn't your recipient rather have a decent sized bottle of brandy instead of a miniature glass,6 chocolates and a golf ball?

Over to you.

Magentasue

I have a Christmas shelf so that every week I buy Christmas only food and drink like bottles of Coke and tins of chocolates. That way my Christmas week shopping bill is just a bit higher with extras like cream but not massively higher.

I also buy things like wrapping paper after Christmas and keep them for next year.

super_mario_4

reminds me of my mum! she would go out in the New Year sales to get loads of bargains for next christmas and just hoard them.....your next post is your 1000th magentasue, got anything special planned?

bluezone

we tend to only buy for the kids ( my sisters children 7 & 5) and then enjoy a day at the sales knowing that anyting we buy is what we need/like. My sister actually doesn't mind if we only buy the kids an outfit in clothing or maybe a small pressie as they get loads from others anyway ( they are the only grandchildren on both sides at the moment! )

another tip although it may sound stingy - i tend to buy my xmas cards either from cheap shops or wait till they have the sales and keep them for next year

funky-footprints

we have taken out a 0% tesco card, all the extras such as our childrens november & december birthdays , christmas and parties etc , are going on that, and we are then paying it off in full at the end of feb. (we have 2 weekends where visiting family means cheap b&b's) We thought it did us better with the money sat in ourbank account. Although we have never actually budgetted so much at this time of year before so its not going to be very nice paying the actual bill !!!!!

Magentasue

super_mario wrote:

reminds me of my mum! she would go out in the New Year sales to get loads of bargains for next christmas and just hoard them.....your next post is your 1000th magentasue, got anything special planned?

Do you know I hadn't noticed! What do you suggest?:j

Gillby1

I've been buying bits n' pieces over the last few months, and have also picked up loads of freebies which are great for pressies - the £12 body cream free with Zest magazine, and few free books and a free Delia Cookbook from a magazine sub. I have bags of stuff under my bed, and most of it is actually quite useful, for once!

We bought a new Christmas tree and decorations last year, so i don't need to worry about those, and i have left-over wrapping paper and cards. The only real expense will be pressies for my boyfriend, and food. The food will be split between three though, so it won't be too bad!

I agree that buying gift sets can often be poor use of money, and am making my own hampers, sweets and flavoured vodka for friends.

I'm starting to get excited now! I can't wait to read everyone else's ideas and plans x

funky-footprints

got to agree with many of your posts, we too have a wardrobe full of 3 for 2's and January sales pressies. just got to remember where other bits of it are stashed !!
x

tattooed_lady

I have lots of cards left over from last year, some nice ones for me to give out and some cheaper ones for the kids mates. I have saved £300 for Xmas this year (first time ever) and I'm not spending a PENNY over that!! I have also printed out some xmas tags from a link on the freebies board so I will use those.

sallypurple

I've just heard that my family credit has been stopped so I was afraid we might have to tighten our belts this christmas. However I have spent the afternoon sorting out all my BOGOF's, Boots bargains and poundland stuff and I've practically finished. I only started lurking on the MSE board in August but I've saved so much money by budgeting sensibly since then that I should be OK :money:

Tondella

We hadn't budgeted for Christmas as we only started maximising our debt repayments in August and so couldn't do the "bit a month put away over the year". However, from ebaying some old CDs, books and a couple of bits of clothing we've raised £150, which should be just short of what we will be spending on presents. I've been really amazed as we would never have got that at a car boot, I am furious at all the old CDs I sold £1 a pop!
There's still time to get yourself set up if you have some things lying around doing nothing. Just make sure that when you list items you calculate enough P&P to adequately cover postage, packaging and a little extra for your efforts in getting to the PO.