Christmas on a Budget

Many consumers are feeling the credit crunch this year, making the usual festive shopping madness a much more reserved affair.

Consumers are worried about making ends meet without the extra stress of financing giving gifts to their loved ones. A great number of us have decided to skip the expense of Christmas this year and a large number of people have opted for a more low key affair than normal. The high streets are definitely feeling the lack of spending this year, as shoppers tighten their belts.

The lack of spending could have serious repercussions on our economy, even though the government are doing their utmost to encourage us to spend; many consumers are spending very cautiously.

There are several ways to economise during the festive season that can help remove some of the financial pressure without ruining the special day. Most people spend time organizing the festivities and considering what supplies will be required. There is however a natural tendency to go overboard with the groceries during the Christmas shop. This can easily be avoided with careful preparation of the shopping list (and stick to it!) or of course there is the option of carrying out the Christmas shop on-line. If using the on-line method for your Christmas shop you also have the added bonus of having your shopping delivered to your door, if you are pushed for time this can be extremely helpful.

When planning what supplies will be required take the time to plan how much of everything is actually needed to cater for the amount of people you are expecting and stick to the amounts. It is pointless to buy a turkey three times the size required, that will take three times as long to cook and probably take your relatives at least three days if not longer to eat. Much better to cook, eat and enjoy the amount you need and let that be an end to it. The excess food that is bought is often wasted; spend a little time considering the desserts you would like to prepare. Consulting your guests prior to the event can give you ideas on preferences and numbers, as your guests are usually relatives they will not be put out about being consulted, they might actually appreciate the effort.

Try not to buy expensive Christmas crackers, decorations, cards and wrapping paper. Buying expensive brands can seriously dent your budget. Another useful money saving tip is to arrange with family members that gifts should be of a certain value, many families only buy for their relations children. It should be remembered that everyone is feeling the pinch and biting the bullet to discuss this matter with family members could be doing everyone involved a huge favor. Do not be tempted to use credit cards to fund your Christmas shopping as the interest rates are usually high and you still have to find the money to pay for it all in the end.

It seems that there is a large increase in the purchase of presents on-line and some great deals are out there to be had. Ebay can be a great resource for finding great gifts on a budget, and close friends and family would not mind receiving a gift in as new condition say for example a perfume gift set. A great deal of money can be saved if you have the time to available to research. When looking for gifts try to prepare a rough list and give yourself a budget to keep to, spending time trying to come up with original or useful gifts will more than compensate for the reduced amount of money spent.

New Year’s celebrations can seriously cost you in tickets, drinks and taxi fares; a much cheaper alternative is to arrange for friends to meet up. Get everyone to help supply drink, food and any other equipment you need. If all of your friends bring sleeping bags there will be a fortune saved on cab fares with the added bonus of not standing in the cold trying to avoid any trouble that there may be. You usually find a few party games; karaoke and some music will soon get the party going. Don’t forget to invite the neighbors!

With a little thought money can be easily saved without cutting corners which will help the enjoyment of the festivities.

Jenny Austin is a Money Saving Expert, for further information on making money savings.