How To Do Christmas On A Budget
Besides the usual type of bills and purchases, Christmas can be one of the most expensive of the year. The cost of food, gifts, decorations and activity soon racks up the costs along with the bills on the side. Typically, according to research provided by ‘YouGov‘ last year, on average, Brits spend £1,116 during the festive season. They suggest that Christmas cheer comes with a cost which is mainly from gift-giving, hotel stays and then food and drinks. £1,116 is a lot of money to spend during the season, along with this it is definitely not something which everybody is able to afford. Therefore, we have put together a few ideas of how to do Christmas on a budget.
Figure out exactly what you can spend
When starting to consider the price of Christmas this year, there is one thing you should begin with. This is figuring out what you are able to spend during the festive season. By doing this, you are able to then separate your finances and decide what amount you are willing to spend on what category from gifts to food. When you have your specific amount then you can move forward with planning what to do next including factors like where to shop and what to purchase.
Switch up your Christmas food shop
The Sun has revealed that food shopping at Christmas is not cheap, with overpriced turkeys and plenty of potatoes, people spend on average £141 on food alone. Following this, an extra £68 is reserved for beverages including both alcoholic and non-alcoholic drinks. Not everybody can budget that amount on food and drinks, but, there is a way you can get everything you need at a lower cost. At the moment in the UK, the cheapest supermarket to purchase food from is Aldi, followed by Lidl and Asda. Swapping your chosen shop to Aldi could save you a large percentage of money but still allow you to get everything you need.
Keep your eyes out of deals in the run-up
From now to the run-up to Christmas there are plenty of opportunities to purchase gifts, even if the shops are all closed. Not only that, there are a few special sale days arising. With Black Friday and Cyber Monday on the way, you could bag yourself a great discount on some of the gifts you are wanting to purchase for either yourself or somebody else. This will help with your Christmas on a budget, especially if you find the perfect deals.
Agree not to purchase presents this year
Christmas is not all about giving and receiving gifts, that is just an extra part which makes it a whole lot more fun. If you are struggling with funding the festive period this year, why not try agreeing not to buy each other gifts this year. This way, there is no stress over the price and also no awkwardness. Depending on how many friends and family members you. have, this could massively make a difference to your spending and balance.
If you find yourself struggling after, or before the Christmas period, here at Simple Personal Loans we can help. We offer loans for all sorts of different occasions. Although, we do not recommend borrowing if you will struggle with the repayments. To find out more click here.