How are you coping with Christmas finances?

dimestorediamond

This is probably the first year where I haven't or don't intend, to spend a small fortune. By some standards, I probably spend too much, by mine, I have cut down vastly.

I have five siblings (we age between 6 and me, at 28) so this year, us oldest four are doing secret Santa. It's saved me about a £100 and takes the stress out of choosing gifts for two other people. I don't even have to choose for this sister I have got because she gave my mother a Christmas list and I picked something off it!

The two little ones will still get, but I have knocked the budget down from £45 to £25 - the 6 year old won't notice and I explained to the older one, she's fine with it.)

I've knocked down friends gifts (I buy for five, including one child) down to £10 pp. I've also decided to start buying experiences or useful things instead of "stuff". One friend loves the cinema, as does her son, so I bought them an Odeon voucher each - something nice to do in miserable January!

I never use credit for Christmas, but I do clean myself out normally. This year I am quite determined not to let it happen. And I have vowed that from February I will start a Christmas/Birthdays pot so I am in an even better position. Going to try and spend less too.

CH27

Citygirl1 wrote: »

Just interested to know because I'm not coping too well. I haven't had chance to save up for Christmas so its coming out of my wages, I don't earn a fortune, am already £50 overdrawn, don't get paid till the end of the month and have £115 on my credit card. I am paying off my credit card and had got it down but have been forced to put some presents on it or else I would struggle, I am determined to pay it all off in January.


Do you save up for Xmas throughout the year? I don't have kids but have a lot of family and friends to buy for.


I must admit I am starting to panic.

Talk to your friends & family.
I bet most of them will be relieved if you say you want to stop exchanging gifts.

System

Ive got vouchers that ive saved over the year from Shopandscan which will will be given to 3 of my adult children, one son in law and one Grandson. Ive bought Moms gift already out of my vouchers.

Hubby has to pay for food and a gift for our Grandson and money for our youngest son.

I cant do any more.

YORKSHIRELASS

trailingspouse wrote: »

Another idea that might be worth thinking about with adult relatives - my Mum and her sister decided years ago that they would no long give each other 'proper' presents.

Instead they give each other a £10 M&S voucher. They've been doing this for years (they started when £10 was actually worth something!!). It's become a 'thing' - Mum gets very excited about what could possibly be in the envelope, can't wait to open it, exclaims 'It's just what I always wanted' etc. And yes, she enjoys going and choosing something. As they're both sensible women of a certain age, the vouchers usually end up being spent on something sensible, like new knickers - but hey.

I love this, it made me laugh. In our family we all give each other £10 cash for birthdays - and this has never increased over the 20 years we have done it. £10 isnt a huge amount to give but with 4 of us doing it we all get a nice amount for our birthdays to go and get something we want. I usually wrap up something very small to go with the cash and it works really well.

calicocat

I don't spend a lot now.....but can well remember the total dread at having to 'keep up' with my richer at the time friends. It was a nightmare....and every year it seemed to get bigger.

Funnily enough...now that i'm in a better position....and they aren't...suddenly it's a let's not bother scenario now.....lol. Not that I care, saves on all the wondering what to get.

I still buy for a few, but don't spend masses anymore. I tend to have a budget for each person and pretty much stick to it, also buy throughout the year.

I do like buying and wrapping pressies though if i'm honest..so probably get more than I need to.

I won't be spending a fortune on food and haven't done for a few years now as people go mad with that and I can't stand food waste. I will get a few treats in or make them.

I have an added expense this year of people coming boxing day to me this year as off work for a change, but I won't be going overboard.

I will be spending on cocktail ingredients though as I like nice drinks at xmas, but have no decorations to buy as already have enough to do out fenwicks windows from years of collecting....:D.

Good luck OP, i'm sure whatever you get will be fine with everyone, next year you can either knock it on the head for some, or do token gifts, or buy bargains throughout the year.

Next year I plan to get more organised and make quite a few gifts.

Citygirl1

Thanks for all your helpful replies. I feel now I do need to start saving at the start of each year, even putting so much money away per week will help, I also need to save for other things too aswell as putting money in my rainy day savings account. Its too much of a struggle to wait till Xmas or till I need something and then pay for it in one go.


As for the hairdressers, I used to go to the college years ago when I was unemployed and they did a good job but it took so much time as they had to have everything supervised and as I work full time I wouldn't have the time to sit there for that long but it is a good idea.

Westywoodpecker

I buy all year round, so if I see something suitable for a family member I buy it & tick it off my list, especially in the sales

To be very honest, out of all my Christmas gifts I was given last year, the one I remember the most & appreciated was my DS's girlfriends. She made us some boozy mince pies & home made chutney & cranberry sauce. So much nicer than shop bought & so thoughtful.

Justamum

Citygirl1 wrote: »

I don't have kids but have a lot of family and friends to buy for.

So don't buy for them then. Don't feel obliged to. Just tell them that you can't afford it this year. Martin probably has something on the webpage about Christmas. I know he's quite vocal about not getting into debt, and also not making other feel obliged to get into debt by buying presents for people.

ETA - you've probably seen the link to what Martin says about gift giving. He makes a lot of sense.

We only buy for our children. We've been so strapped for cash most years that it's just not been an option to buy for anyone else. My eldest daughter has just turned 18, so I've told her that now she's working (and has far more disposable income than we do) she'll only be getting a token present.

PlymouthMaid

I don't notice much extra Christmas expense really as I pick up stuff over the year and have a few bits to buy (today in fact). I have ten people to think about but make things as part of their gift. My daughters have their grown up 'stocking' about £25 probably each mainly girlie stuff and I spend about another £50 each on them or make it up with cash if uneven. Then about £20 on average each for the rest of the family. Other folk will get a homemade gift probably edible. So around £300 all in.

I do think people go a little crazy these days.

lushlifesaver

Bf pays for the gifts for his family (parents, token for grandparents who don't 'do' Christmas any more, 2 brothers, 1 sil and a nephew and a niece) and I buy for mine (only parents and brother; long time since we did gifts for the wider family usually its a nice card and a note maybe a small token for them to share if we are meeting up but the distance makes it uneconomical to post anything and we all prefer to know we are thought about than costing each other money!)


Usually I save £10-15 per month in my personal savings towards all birthday and Christmas however maternity kind of scuppered that and this year work gave no bonuses (only announced the week we were previously told they were due) and we bought me a car as life without it and the baby would have been impossible.


Bf and I save jointly and we have used that pot to buy for wonder bairn (not all of it heavens she'd have the world and more if that were the case! only a few choice gifts)


Last months pay check had to cover extra expenses as my return to work meant more petrol etc on less money (righted itself following pay day though as it was accounted for after that) we also had a weekend away (tournament) and bf's birthday! So no saves extra saves there and in December I have my brother's birthday plus Christmas!


So I am going to do a little hamper for brother's birthday (£10-20) and he will get up to £30 spent on his Christmas things and then £40-50 between my parents (doing them a joint 'night in' hamper type thing) and around £80 on bf (want to get him a few extras as a thank you for all the support in the year).


From next year I have set out a birthdays/Christmas savings plan to start from December's pay day (pretty much Christmas week!)

Butterfly_Brain wrote: »

I do the 'sistercas fund' which is to put £1 a day in a pot so by Christmas I have £365

I'd not seen that before Butterfly Brain but I am definitely going to do it next year! two pots - one for Christmas and one for a family treat/to add to wonder bairn's account Off to find some suitable terramundi pots now