Christmas is an exciting but expensive time of year – although with a bit of planning ahead and shopping around, it doesn’t have to break the bank.

8 Ways To Budget For Christmas This Year

With presents to buy, decorations to put up, outfits to purchase for festive parties, and everything costing more, it is definitely the season for budgeting to avoid getting into debt. It can be a tough time for many as many face a cost of living crisis.

Take Control

You are in charge of your Christmas spend so take control of your budget. A good way to do this is to write a list of who you need to buy for and how much you want to spend on them – and then stick to this plan. Don’t be tempted to add little gifts as extras for some people, as it’s the items you buy that aren’t on your plan that will mean you spend too much this festive season. Be honest with friends and family if you are struggling.

Avoid Loan Sharks

The lead up to Christmas can be a very expensive time and knowing where to go to get the right help can be tricky too. We want you to know the red flags of loan sharks, so you can protect yourself. Loan sharks can pose as your friend and draw you in with a loan, no questions asked. Loan sharks often don’t provide any paperwork or receipts and will add huge amounts of interest on what you owe. Loan sharks can become aggressive and threaten you and your family if payments are missed or late. Loan sharks can take valuables or personal documents as security. If you recognise any of these signs there are people to help, @StopLoanSharksEngland are here to provide help and support for anyone involved with a loan shark. Contact them today on 0300 555 2222 or visit www.stoploansharks.co.uk

Bargain Hunt

Be sure to shop around and compare prices. Wait for deals and make sure you’re paying the best possible price for the items you want to buy.

The same is true when it comes to food shopping. Buy non-perishable foods when they’re on offer and start to build a good stash of food early on so you can spread the cost too.

Pay Early

If you can, pay your household bills as early as possible in December. This will help you to keep track of how much money you have left to spend on Christmas.

Spend Less

Having a fun time with family and friends doesn’t have to cost a lot. Buy gifts that are thoughtful rather than expensive, and look out for free activities for the kids to do in the holidays – for example, going for a walk when it’s dark to look at all the Christmas lights is a great way to spend the evening and costs you nothing.

Make It A Team Effort For Christmas Dinner

If you’re making the Christmas dinner for everyone this year, ask people to bring something with them for the meal – this will make cooking for all less stressful and costly as well as more fun as everyone can get involved and contribute.

Seek Advice

If you are worried about debt or spending too much this Christmas, seek advice now – don’t wait. You can take a look at Nehemiah’s Tenant Wellbeing pages for advice on money, cost of living and paying your rent. You can also contact your Housing Officer or call us on 0121 358 0966 or email contact@nehemiah.co.uk and we will do all we can to support you and help you find the right advice.  

Relax

Don’t forget – this time of year has fun at its core so relax as much as you can. Whether you celebrate Christmas or not, we hope you can enjoy the time off work and spending time with family and friends.