Christmas on a budget

This year, with COVID-19 adding to many people’s money worries, it is more important than ever not to overspend on festive treats.

If you are already struggling to pay your day to day bills on a tight budget the thought of Christmas expenses can be stressful, but by following our tips and planning ahead you can avoid debt this festive season.

• Set yourself a budget of what you can afford and stick to it. Make a list of your Christmas expenses like food, cards, activities and presents, then use the Budget Planner to help manage your finances and show any overspending
• Don’t forget everyday bills like rent, council tax and utilities must still be paid and the consequences can be severe if they’re not. Remember there are no longer ‘non-payment’ rent weeks at Christmas
• Make a pact with family and friends to only buy presents for the children and swap Secret Santa gifts for the adults with a limit of £5 or £10. If lockdown means you’ve got more time on your hands at home, try making or baking homemade gifts instead of buying them
• Sending free e-Christmas cards by email will save on the cost of buying and posting traditional cards and is also much more environmentally friendly
• Plan ahead and only buy food and drink you realistically need (think about how much you threw away last year!)
• Switch to supermarket own-brand products and instantly reduce your grocery bills
• If you can afford to pay for goods outright don’t be persuaded to take out credit unless it really does work out cheaper. Be wary about ‘Buy now, pay later’ offers. Are you sure you’ll have the money then?

If you’re worried about debt don’t bury your head in the sand. Talk to our Welfare Rights & Money Advice team who can help you find a way forward and avoid starting the 2021 in debt.