Cost of Living Christmas – How To Reduce Spending This Festive Szn

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It’s the most wonderful (and expensive) time of year. And with a cost of living crisis in full swing it doesn’t make things any easier.

Christmas can be a real stress for a lot of people. Even if it might not seem like it, so many of us are feeling the same way.

The pressure seems to be growing each year with excessive gift giving and over-the-top trends. Elf 1 and Elf 2, I am looking at you.

It’s difficult to navigate, and to know where to draw the line without taking away that Christmas magic. However, it is possible to reduce your spending even a little.

Here are some tips.

Secret Santa

In all circles such as family, work, friendship groups etc, use Secret Santa as your primary gifting method.

This is when each person in the group gets one other person to buy for, usually within a spending limit.

This allows each individual to be able to give and receive one decent present and it significantly cuts down unnecessary gift-giving and expenses. It also makes who you need to buy for very clear.

If you’ve got children, give them a budget in which to give Santa. You could even tell them that while Santa delivers the presents, parents still need to pay him for his help.

Staying in

Every person in your life is most likely already onto you about planning your yearly Christmas meal. And of course, by all means, it’s still important to treat yourself during this time.

However, you could also suggest hosting dinner at your house to cut down on costs.

You and the girls may even prefer to have a cheeseboard and wine night by the fire for your catchup – brie board, anyone?

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Waste not, want not

The urge to buy new during this time of year is real. Overconsumption is all around and it is very tempting.

Try to reuse from previous years. We all know that last year’s decorations are in absolutely perfect condition and trust us, nobody remembers that you wore that dress last New Year’s eve – wear it again!

That ASOS Christmas basket is looking super tempting, but there is no need for a new wardrobe every single Christmas. Choose one really nice piece to treat yourself, and say no to everything else.

Getting in control of this spending will make or break how much you spend this season.

Budget-friendly activities

To maintain that festive magic while keeping costs under control, come up with a list of activities that you can do during this time of year that won’t break the bank.

For example, finding a local Christmas market or going into your local town or city when they turn on the Christmas lights can be economical and still super exciting – especially if you’ve got children.

Come up with some fun activities to do at home such as making Christmas decorations while listening to Christmas music.

Plan ahead

One of the best ways to take a bit of stress away during December is to start planning ahead as early as possible.

You could start by picking up one present or Christmas essential each week to spread out the cost.

Budgeting is also an essential part of the plan. Decide on an amount that suits you and stick to it. Split your budget into separate categories such as presents, eating out etc.

Adding a small amount of savings into a separate account or Revolut vault may not seem like much each week but by the time Christmas comes you will be so glad of the extra money.

Draw the line

It is so okay during this time of year to not say yes to every single activity or meal out.

If you feel like you are starting to go over budget, take a step back and consider other options such as staying in, or rescheduling for another time of the year.

And remember…

It can be very easy to forget that Christmas is about taking a step back to relax and spend time with loved ones.

The most important thing to do is make an effort to be present, enjoy yourself and being with friends and family.

Words by Ava Grace

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