Christmas is in 50 days, which means you’ve only got one more pay cheque before the big day itself. But don’t fret, if you get started early, you’ll be chilling when the festivities actually start.
So get your ducks in a row right now, instead of leaving it last minute and panicking, especially as prices start rising.
To help, we’ve created a handy guide for you to start thinking about the things you probably haven’t started thinking about yet.
Financial planner Makala Green and James Andrews, senior personal finance editor at money.co.uk, have given their top tips for a stress-free Christmas (yes, it’s possible). Here are the things you should start doing:
Make a Christmas budget
Green says list names of everyone who needs a present. If you’re struggling financially, try to make this as streamlined as possible by setting up a budget. Your loved ones would much rather you feel comfortable with your financial situation than spend money you don’t have. It’s okay to be honest about what you can afford.
Create a Christmas menu to help work out the food expenses and stick to it. If you haven’t booked an online shop (and you don’t want to shop in person) you’ll need to do that ASAP.
You can also note other festive miscellaneous costs such as decorations, wrapping paper, etc.
Plan your Christmas purchases
You don’t want the costs of ‘next-day delivery’ adding up if you leave it too close to the big day (plus, things may be out of stock). So get ordering and get shopping now.
And if you find that your Christmas budget is tighter this year, you may need to prioritise purchases. Try to decide what is the most important thing to you at Christmas time – what are your essentials? Your Christmas can still be a wonderful time even if it’s stripped back a little. Perhaps cut down on the alcohol you’d usually buy? Or recycle last year’s Christmas decorations?
Plan your shopping days
There are seven weekends until Christmas day, so if you’re doing in-person shopping, try and do it as early as possible. If you’re more of an online shopper, then watch out for those flash sales.
Andrews, from money.co.uk, advises keeping those dates in mind.
He says: “It’s easiest to bag a bargain if you start your shopping early. Many shops announce their Black Friday and Cyber Monday deals in advance, so if you plan ahead you can make sure you take advantage of the biggest deals.
“If you’re running low on funds at the end of the month, so don’t have the cash to take advantage of Black Friday deals on the day, don’t worry. Several retailers run major discounts to shift their unsold stock right before Christmas, so if you hold out you could still be able to bag yourself a bargain.”
Check voucher codes and newsletter discounts
Take advantage of the resources already available to you, the internet has plenty of offers and gems (you can even use a free browser that finds the cheapest deals).
Andrews adds: “Before you even start on your Christmas purchases, it’s a good idea to scour the web to see if you can find any discount codes to bring the cost of your purchases down.
“Some major retailers will offer you a 5-15% discount on your first purchase if you sign up to their email newsletter, which you can always unsubscribe from at a later date.
“Alternatively, if you’re thinking of switching your mobile provider, bank account or credit card, some brands will give you gift cards, discount codes or cashback as an incentive to switch.
“Even if you’re not a new customer, you might still be eligible for some rewards schemes, so it’s always worth scouting around before you start spending.”
Cash in on freebies lying around
What did you do with those gift cards from your birthday or from last Christmas? If you haven’t used it up, now is your chance.
Find all the cards, coupons, and vouchers - don’t forget that some are on the app, and use them all up before they expire.
Don’t be tempted by ‘buy now, pay later schemes’
It’s easy to get sucked into the world of pay later schemes but it can certainly come at a cost. Andrews advises against using them.
He says: “Anyone shopping online will probably be aware of Buy Now Pay Later schemes. Shoppers can be drawn in by the promise of no interest, no fees and no late charges but what seems like a one stop fix could lead you into a lot of debt.
“But spreading purchases out over several weeks and potentially a string of BNPL providers can make keeping track of your cash harder.
“It’s essential you read the terms of conditions on any service you sign up to, especially when you’re taking out debt. If you have any uncertainty about whether you can pay off what you’re spending, you should steer clear of buy now pay later schemes.”
Get Christmas creative
Green adds that Christmas doesn’t have to be costly; get creative with presents and try hand-making to save money. Don’t forget there are seven weekends until the big day. Why not get started on a project which will be ready for Christmas? Making soap, pressing flowers and sticking them in a frame, creating a collage of your favourite memories all make for wonderful gifts which will last.
Just get started as soon as possible.