Xmas savings - how much?

Tinkerbell21_2

For the last few years I have saved £15.00 per week until beginning of December. I get approx £720.00 and only really spend about £300 on Christmas. I use the rest towards something for me and bf, this year we booked to go to New York in November

saintly_2

im savin £50 a month, i only spend about £300 so the extra goes towards my january money as money is tight then!!

13katrina

I think it depends how much money you currently have coming in, how much is going out, how many people you have to buy for and will you need to spend much on food or drink.

Personally, my sister and I spend Christmas at my Mum's house. My mum is re-married and her husband’s children also spend Christmas with us. My sister and I always used to give Mum money to put towards food/drink (so we wouldn't double up on things and she likes food shopping!?!?) but now that she's remarried his children don't contribute and therefore she won't let us contribute. This means that I don't need to save extra money for food - my usual shopping is fine.

However, now that I realise what a mess I'm in financially and having budgeted for the year using Martin's planner I realise that for the present time I can't afford very much for birthday/Christmas presents. I have budgeted only £150 for each. Broken down as follows:

Birthdays

Mum/Dad/Step-Mum/Sister/Sister/Brother: £5 each = £30
Brother/Nephew/Niece: £10 each = £30
OH Family - MIL/FIL/SIL/BIL/Nan/Grandad: £5 each = £30
Daughter: £50
Cards/Wrap: £10 - I buy wrap in bulk and make my own cards

Christmas - I don't buy either of my sisters’ presents because we all have one child each, so we all only buy for the children.

Mum/Dad/Step-Mum/Brother: £5 each = £20
Brother/Nephew/Niece: £10 each = £30
OH Family: MIL/FIL/Nan/Grandad: £5 each = £20
OH Family: SIL/BIL = £10 each = £20
Daughter: £50
Cards/Wrap: £10

It's quite a tight budget but it's all I can afford if I want to eat, pay the bills, keep the car on the road etc, etc and still pay off my debts while I'm still young enough to enjoy having money again. This works out at £25 a month and I've saved January's money already.

Have already found a birthday present for my step-mum - a book from the Bookman (who comes into work). Advanced card-making techniques (she's craft mad) £5, RRP £12.50 - who's going to know I only paid £5 - it's brand new and I know she'll love it.

I think it's really important to remember that Christmas is about spending time with loved ones and no one that you love and who loves you back (with the exception of young children who just don't understand about money yet!) would want to see you struggle to pay for a present from them.

frosty

I dont save for christmas,I buy through out the year(in the sales and reduced gifts),wrapping paper,cards and crackers I buy in the sales(have enough for the next couple of years).In June I start buying 2/3 extra food items each week and this builds into a nice christmas hamper.