Most of us love the festive season, but there’s no denying that
it’s also the most expensive season, too.
Excitement at the holiday period
is tempered with knowing that financially, you will need to stump up more cash
to experience Christmas.
According to a Bank of England
report, households spend an additional £500 per month in the run-up to Christmas.
25% of households experience an increase in financial difficulties during the
Which is why it is imperative
you should consider placing some additional funds aside now to prepare.
Another option, and really the
last resort is to consider a short-term loan.
Loans are easy to apply for
these days. A direct lender will
provide you with a loan almost instantly, whilst others like traditional banks
prefer specific qualifying criteria.
Provided the short-term loan is
repaid instantly, you can use it to get what you need for Christmas without
having to worry about long-term debt going into the new year.
Thinking about Christmas during
Autumn can seem like a deadly sin, but it’s one of the smartest things you’ll
do all year.
Nothing is more embarrassing
about ensuring you’re fully prepared for Christmas when the time comes, and if
that means beginning now, so be it.
Placing a tidy sum aside each
week or month will gradually grow into a nice-looking Christmas budget.
However, it would be unrealistic
to suggest that this would be enough to cover the entire Christmas period.
Maybe if you do not have the additional funds to take advantage of Autumn
sales, then you need to borrow extra funds.
advantage of Autumnal and Black Friday sales
Black Friday is a traditional US
holiday, taking place after Thanksgiving. However, now UK retailers and
shoppers have jumped onto this significant increase in pre-Christmas sales by
offering considerable discounts to UK shoppers.
Since it only lasts for 1-3
days, UK shoppers need to ensure they have the finances to cover the financial
cost they would additionally spend.
Whether borrowed or saved, you
don’t want to miss these huge discounts. The likelihood to secure a Christmas
bargain won’t roll around afterwards!
If you have the funds, you can
make savings by finding gifts at the lowest prices; however, this only works
out if you repay any borrowed loans or credit cards right away.
account your other expenses
Initially, when people consider
Christmas expenses, they tend to think of all the gifts that they need to buy
for their family and loved ones.
However, along with gifts come
the food and decorations as well.
With so many more purchases to
consider, make sure you can budget to cover all the Christmas essentials,
including food and drink. The cheapest Christmas dinner in 2018 was £26.43.
Therefore, compile a
comprehensive list of all the Christmas expenses, including food, drink and
decorations to help you determine what kind of budget would be ideal for you
and your household.
There’s no denying that the
world lights up at Christmas time, with fabulous events being held across the
Christmas only rolls around once
a year, and the excitement builds to a crescendo come December. Of course,
nothing is free; especially when travelling with children, this can become
Maybe you wish to stroll through
the Winter Wonderland in London’s Hyde Park, or you want to visit one of
Belgium’s spectacular Christmas markets.
If you must determine that you
need to experience Christmas in another country, then ensure you budget well in
Otherwise not only will you
spend more at Christmas, but you will also overspend and be in deep financial
debt for the new year.
David Bailey-Lauring is a single father of
three boys so he knows what it takes to stretch a budget when it comes to
family finances! David is a content writer and regularly
writes about personal finance, education and lifestyle in the UK, USA, and