Christmas Spending Hacks

With Christmas coming up quickly it can take us by surprise and take a hard hit on the wallet if we’re not prepared.

It’s important to remember that there is a lot of pressure on families at this time, for reasons beyond money as well. Don’t put too much pressure on yourself during this time and find ways you can give a gift without spending such as giving your time.

Our hacks to Christmas spending are:

• Create a separate savings account for Christmas and contribute to it each pay
• Set a limit for gifts and budget to it
• Secret Santa – agree on dollar limit for gifts and get the family involved so you only have to get presents for one person on the day and no-one feels obligated to get a gift for everyone
• Communicate expectations around gifts if you are worried about disappointing people
• Spread your gift buying over numerous pay checks – don’t do it all at once
• Make the most of the upcoming sales before Christmas
• Redeem points on your reward cards for vouchers or gifts
• Try DIY – make a gift that could be more personable and if you have kids get them involved in making something
• See if you can ‘group up’ on gifts and give one gift to numerous people

In the end, more spending does not necessarily mean more Christmas. Especially this year, may your money choices buy more cheer!