The festive season is a time for celebration, generosity, and making memories—but it can also bring extra financial pressures. Between gifts, gatherings, travel, and all the little extras, costs can quickly add up. To help ease the strain, our Financial Wellbeing Officer, Maxie, has put together some practical pointers on managing your finances over Christmas, so you can enjoy the holidays without the worry of overspending.
Contact Maxie for a benefit check to see if your income is maximised.
- Could you get free money for switching your bank account?
- Our income and expenditure form can help to visualise what your budget is:
- When you know how much money you have make a budget and stick to it. Try to not put things on credit cards, 3 monthly payments etc.
TOYS
- Toy sales:
- Keep an eye out for retailers having sales on the run up to Christmas, Martin Lewis Money Saving Expert will send emails advising who is having a sale when.
- Boots have a wide range of 3 for 2 gifts, where you can get stocking fillers, Granny’s hand cream and Dad’s socks.
- Argos and Tesco also offer deals with 2 for £15/£30.
- Use Google shopping and other comparison sites to see where you can get the best deal for gifts.
- It is also worth checking to see if you can get cashback on any purchases online too. Quidco and topcashaback will have deals on the run up to Christmas.
- Check out your local Facebook selling sites, gumtree etc for second hand items, but please beware of scammers and do not send money prior to getting the item.
- Charity shops sell cards, giftwrap etc and you never know you might find the gift you need in there too!
- If you are really struggling, you may be able to request help from local charities
- Speak to your school or social worker for more information about schemes in your area.
FOOD
- Many supermarkets reduce the cost of a Christmas dinner on the run up to Christmas. 8-15p veg.
- You can even prep the meal well in advance to help spread the cost, if its good enough for Jamie Oliver!
- If you are having a large number of guests maybe they can contribute – less spending and less stress!
- Some supermarkets off Christmas Saver schemes where you can add in money on the run up to Christmas or even the points you have already earned.
PRESENTS
- Can you get a good deal on black Friday? Or would you be better waiting for the January sales? Would a gift card be better value for when the item inevitably comes down in price?
- There is a real pressure to spend loads at Christmas and then end up with items sitting in the back of cupboards gathering dust (I have 3 kids believe me I know!)
- By all means have a list for Santa but maybe grandparents can help out with that list? Or have a chat with the children to explain that Santa will give the gift you want the most etc?
I have also seen where people use a gift scheme such as:
| Something you want | |
| Something you need | |
| Something to do | |
| Something to wear | |
| Something to read |
- This can be mixed and matched depending on your child’s likes and your budget. Maybe you can gift experiences? A day out to the local theme park, the cinema etc.
- If you have a talent can you gift it? Like homemade Christmas cookies, you can even let the kids help? Crocheted hats? Knitted scarves? Handmade cards or giftcards for a day of DIY, dinner cooked, etc.
- Maybe with adults you can do a secret Santa – a gift for the family like a tub of chocolates or forget gifts altogether? With a partner you could put your money together and get something nice you would both like for the home?
- Could those presents at the backs of cupboards gathering dust become money in time for Christmas? Can you use ebay, Vinted, marketplace etc to make some space and make a bit of cash? Maybe they can be regifted (just make sure its not back to the person who gave it to you).
TRAVEL COSTS
- If you are visiting family for Christmas book train etc tickets as early as possible to ensure the cheapest fares.
PREPARING FOR NEXT YEAR
- If you can afford to do so, the January sales will offer up all the unsold decorations and cards and gift-wrap at very reduced prices.
- You might even be able to grab some bargains for next years presents.