Funding Christmas

No matter what your plans are for Christmas or how many people you are buying gifts for or feeding, it is never going to be cheap; the average family spending around a grand each year on Christmas. Christmas is an amazing time of year, and even if you aren’t religious, it has become part of cultures all around the globe. It’s a time for the family to get together and to give gifts to the people you love to show how much they mean to you. But how to fund it?

Image Credit Ylanite Koppens (Pexels)
Image Credit: Ylanite Koppens (Pexels)

No matter what your plans are for Christmas or how many people you are buying gifts for or feeding, it is never going to be cheap; the average family spending around a grand each year on Christmas. Christmas is an amazing time of year, and even if you aren’t religious, it has become part of cultures all around the globe. It’s a time for the family to get together and to give gifts to the people you love to show how much they mean to you. But how to fund it?

Savings

This is the big, and main way people can afford the holiday season. Open up a high-interest savings account, or even a cash ISA, and be really strict about how much you put into it each month. As your money is sitting in that account, it will start to accrue interest, meaning that by the end of the year you will have more money than if you had just stuck the notes under your mattress. It will all be more than worth it in the end. If you want tips on how to save then visit moneysavingexpert.com.

Credit

A lot of people veer away from credit cards due to the debt it can cause – which is true, but only if you’re bad with money. A credit card can really help your credit score to improve, and if you have already saved up enough to cover, or almost cover, Christmas then it’s a good idea to pay for things off your card. Best.creditcard has a full review of the best cards of 2017 and can give you advice on which card to get to give you the best benefits. Just remember that a credit card isn’t an extension of what you have saved up, it’s just a way of earning rewards while you spend what you already have.

Shopping

Now it is time for you to think about shopping; start to shop for next Christmas in the January sales. That way you can get all the festive themed gifts and new decorations for a great price. If fact, shopping throughout the year allows you to take advantage of every seasonal sale. People don’t just want gifts suitable for winter or covered in penguins and reindeer – some do, so you’re covered there. But if they are more of a summer and beach person, then use the summer sales to your advantage and pick up some beachwear in August. You can also think about doing Secret Santa with different groups of people. This works best if you’re part of a large group of friends, with work, and even with family if you have a large extended family or even a large immediate family, then use a generator like Elfster to draw out names and avoid spending hundreds trying to cover everyone you can think of.

 

*Disclosure: This post was submitted on behalf of PennyMindingMom.com.

 

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