We’ve reached the time of year when people start to wince at the word 'Christmas.' With fewer than 100 days to go until Christmas Day, starting your planning and prep now could mean a reduction in both stress and cost.
Prep the Family
Make a budget and discuss it with the whole family to avoid disappointments on the day. Try not to be doom and gloom if money is tight; emphasise what you can do and how you might be creative with your Christmas plans rather than what you can’t do.
Food First
Many of us end up stressed in the supermarket on Christmas Eve, spending far more than planned. Instead, look for specials on pricier items like meat and alcohol. By buying on special, you not only save money but also spread out the cost of Christmas by purchasing some items early.
Consider planning a menu around fruits and vegetables in season in December, which should be more affordable. Maybe steer away from Christmas classics such as ham, turkey, strawberries, and cherries, which tend to skyrocket in price around December 25.
Better still, agree with your extended family to make Christmas dinner a potluck meal, where everybody brings a dish to share. This takes the pressure off the host and could be the start of a wonderful new tradition.
If you'd prefer a more planned approach, divvy up all the elements of your menu so one person or one branch of the family isn't dealing with all the cost and effort. This way, you can also divide up the leftovers so the whole family has treats to enjoy after Christmas.
Present Planning
Now, let’s look at your gift list. Is it long and unmanageable? Do you find yourself buying gifts for people you don’t know that well? If so, you’re probably not the only one in your family who finds it stressful.
Could you suggest a different approach this year? For example, you could all agree to buy presents only for the children in the family or do a Secret Santa, where each person buys for just one other person. Setting a price limit for everybody is another good idea.
Another option is to trade favours and time with friends and family instead of giving gifts. For instance, you could print vouchers offering several hours of babysitting or help with home renovation projects. This is a great way to ensure everyone gets something genuinely useful, with the bonus of scheduling time to spend with your family and friends.
For presents you need to buy, it’s a good idea to start early. There are few bargains in the days right before Christmas, and your December paycheque will only stretch so far. By starting gift shopping now, you can spread the cost over several paycheques and reduce your reliance on credit come December.
One present that punches above its dollar value is the gift voucher. Whatever dollar value you put on the voucher in December, those dollars will go further when the recipient spends them in the post-Christmas sales.
One trap with shopping early can be the temptation to keep adding things to your present buying. Write a list of all the people you need to buy for, figure out how much you have to spend on them and stick to that!
You can also make savings on some of the peripheral Christmas costs such as decorations and wrapping by putting the kids in charge of making their own, which can usually be done fairly cost-effectively. A bit of crepe paper and glitter can go a long way!
Make a budget and discuss it with the whole family to avoid disappointments on the day. Try not to be doom and gloom if money is tight; emphasise what you can do and how you might be creative with your Christmas plans rather than what you can’t do.
Beware the Budget Blowout
Don’t be tempted to max out your credit cards to pay for Christmas. High-interest rates mean you could end up paying for it for years to come.
If credit card debt is already giving you trouble, now is an excellent time to get it under control. Do some research and see if a debt consolidation loan could be one way to cut the amount of interest you pay each month. You may find it frees up some cash to put toward the Christmas budget, an emergency fund, or even next year’s school book bill!
Finally, spend a moment thinking about what’s important to you this Christmas. Chances are, it’s the people, not the presents. So don’t sweat the small stuff. Here’s to a less stressful festive season, and remember: be prepared!
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