Dealing With Debt, While Dealling With Christmas

Small_Loan_Turns_Big_Debt

Hi Everyone,

I know you may all think god a Christmas Thread in October, but it's only round the corner.

I would like to know how you deal with the expenditure of Christmas along with your debts; I have been looking over my finances and I don't know how I'm going to afford it all this year!

I would just like to know how you all deal with debt at Christmas and how it affects everything?

SLTBD

Storm

Planning ahead is good - so no problem about a post in October! This is the time to maybe have conversations with friends & family members - suggest that you all only buy presents for any kids, not for adults maybe, or that you all agree on a budget per head. Many people will be only too delighted with the suggestions, believe me.

You've also got time to sell any bits & bobs you have to put towards Xmas, or to start a saving jar - there used to be a £2 coin challenge on here, which has the benefit of building up really quite quickly.

Once you've done that, write out a list of who you've got to buy for, and a few ideas of what they might like, then get creative:

- Is there something you can make people rather than buy for them? Cakes, jams, craft items, put together a scrapbook or photo album etc etc
- Look at what you've got in loyalty points from various stores - Nectar points can become Amazon vouchers (as can the payout from some cashback sites), swap your Tesco vouchers for presents etc
- If you're hosting Christmas, then be bold and ask any guests to contribute either in cash or by bringing wine, the pudding, crackers etc.
- When looking at the food shopping, remember how much normally ends up being thrown away! Get a smaller turkey or whatever, don't go overboard on extras like posh biscuits and chocolates - get to Lidl & Aldi who both do great Christmas stuff cheap!
- Ask the people buying you presents for what you need (obviously within any budgets you've agreed) - if you need a new jumper find one you like and tell people exactly (they'll probably be delighted to not have to look around) and you don't end up with a load of stuff you may not particularly like or need cluttering up the house!

Anyway, those are my tips - Good luck!

FireWyrm

I would echo Storm above.

Years ago, I used to buy stickers with the weekly shopping in Morrisons but since I've switched away from the big stores, I've been running a saving scheme of my own. Every month for the last year, I've had a DD go from my current account to a savings account and now I have £625 to fund Christmas. I know this doesn't help this year, but perhaps it might be an idea for next year.

Presents to family this year are the product of my own work. I have a knitted blanket for one I've been working on for the last few months. Soaps have been made along with lip balms, facial mask, bath bombs, bath creamers etc for the ladies while DH has been working on the beer and wine for the gentlemen. The kids are getting 'stockings' full of small toys along with a single bigger present from us. So, a second hand pink phone for my DD, a giant box of colours and paints for DD2. Food is planned and comes out of the £625 savings, so the goose is on order etc.

Decorations neednt be expensive either. Coloured paper chains keep the kids out of your hair for a few hours.

Presents from the MIL were arranged this morning. At the rate DH is going destroying my crockery, we're going to be eating from paper plates very soon. A new dinner set is evidently on the way thanks to a quick telephone conversation.

So, essentially, don't buy into the Christmas hype, go back to what it really means and ask yourself how much it really should cost. I think you'll find that £200 should do the lot, food, presents, decorations, drink and anything else you need.

Time_to_face_the_music

Small_Loan_Turns_Big_Debt wrote: »

Hi Everyone,

I know you may all think god a Christmas Thread in October, but it's only round the corner.

I would like to know how you deal with the expenditure of Christmas along with your debts; I have been looking over my finances and I don't know how I'm going to afford it all this year!

I would just like to know how you all deal with debt at Christmas and how it affects everything?

SLTBD

Definitely not too early, you will find many people here who plan Christmas in the January sales :xmassmile

We buy something extra each time we go shopping and it is built into our weekly budget. Our Christmas store already has alcoholic treats, chocolates, nuts, Pringles, biscuits and this week we added Lidl Pannetone.

For gifts, I have been earning Amazon vouchers all year from surveys and book trade ins, main gifts for DD and DGD will come from these. Small stocking fillers have come from car boot sales and charity shops throughout the year and am now making some gifts too.

The highlight of our year will be having a lovely Christmas that we have paid for and not one that we will be worrying about in January

Aryndeneth

We have a rule in my family that we don't spend more than a certain amount on each person. We purposely keep the amount low, say £10 each, in order to keep costs low but also forces us to be a bit more thoughtful and creative with the gifts we give. I will admit it's more time consuming that just picking more expensive items easily from shops and catalogues but, come January, it's a relief not to dread the arrival of the bank statements!

Also, as a kid, I loved making paper-chains. I might do that again this year

Walaboobah

Not going to be a pleasant Christmas in our household this year I fear. Had around £600 saved up but had to pay that into our Current Account a few months ago, prior to my LBM so that has all gone

We have some surplus this month which will be winging it's way to our Christmas/Emergency fund so we should have some money but belts need to be tightened as I suspect the last dozen Christmas's were in reality paid for on credit - which is partially why we are in the mess we are in!

Janie4Now

It really is the thought that counts. Like last year I shall be making a lot of my presents (mini Christmas cakes, chutney, etc). Food-wise, save up a bit each week between now and then to allow for the extra goodies.

Fortunately, my daughter is grown up so I don't have kids to worry about.....

kettlenic

I make a lot of presents and use the loyalty points. You can google crafts to make and look for ones where you may already have the tools at home or that require minimum outlay.

Last year I made chutney, baked biscuits cutout with a star and tree shape, I sent away for sample baileys and tied them to the biscuits, I made clothes peg magnets and flavoured vodka it went down a treat.

This year I am sewing draught excluders, chili jam, chutney, biscuits and body scrub and berry liquer (which I stole from super scrimpers)

just have a play on the internet for samples and ideas

I know someone who had really young kids and made a carpenter set for the boy = off cuts of wood - cheap kids tool set etc and a 'nurse' set for the girl - empty plastic bottles filled with water and food colouring - sewed the outfit - all super cheap

I also saw on martha stewarts site how to make a puppet wash cloth with an old towel!!

Small_Loan_Turns_Big_Debt

These are all good Ideas thanks everyone!

Walaboobah - I have also noticed online a lot of BOGOF offers on toys, toiletries etc online. Just have to have a look round google; I have found some great stuff for christmas doing that.

I will think about making something for my mom actually, she would appreciate that more. But then I have a nephew that only seems to be interested in computers and expensive toys; how fun that is going to be!

I wish I wasn't a smoker, that would make things so much easier!

I want to have an amazing christmas this year as we have quite a few new borns in the family, I was thinking of using some of the savings I have got at the moment; but they might be needed for that rainy day?!

southernbelle

I don't have a house etc so Christmas is spent with my parents so I am lucky in that I don't have to worry about food etc. For presents, these are some things I am doing:

• "This is your life" books for parents and grandparents. I have been researching our family tree so I think this'll be nice (when I get round to it).
• Saving vouchers from surveys and swagbucks and using to buy presents cheap on Amazon.
• Using a voucher I got for my birthday to buy presents.
• Re-using wrapping from my birthday / using stuff I already have.
• Making some pressies - hot water bottle covers, key-rings, cushions.

HairyHandofDartmoor

I've dealt with it by telling everyone that we won't be giving any presents this year due to the recession and telling them to please not buy us anything.

I have to say it's a great relief now it's done. Two people have reacted very favourably saying that they don't mind at all. Silence from the rest so far, but frankly I DON'T CARE as I simply don't have the money!

It's such a relief not having to worry about buying things I can't afford for people who generally have a lot more money than me and getting further into debt due to social pressure.