Cutting back on the cost of Christmas purchases

As most of us are only too aware the costs associated with the festive season can really add up, and at a time when most families have faced a particularly tough year in terms of their finances the last thing that most want to do is spend what little money they do have all in one go at Christmas.

Whilst Christmas is undoubtedly an exciting time for most it can also be a very expensive time unless you take steps to ensure that you do not overspend. Buying things such as food, gifts, and clothes can really eat into your money, so you need to be careful that you do not blow all of your cash, or worse still end up in loads of debt.

One of the first thing to do when it comes to getting the cost right for Christmas is to ensure that you set yourself a reasonable and viable budget, and then stick to it. Base your budget on what you can afford rather than trying to buy extravagant gifts and items – after all, Christmas isn’t all about presents! It is not just presents that you need to budget for at Christmastime. You also need to ensure that you set a budget for things like clothes, food, and entertainment over the festive season, so that you do not overspend. Also, when it comes to sticking to your budget, don’t spend every penny up to your budget just for the sake of it. Hunt around for bargains and try and spend below budget for each of the items that you plan to buy.

Before you head off shopping consider whether you really need to buy everything that you have on the list. For example, if you have cards and wrapping paper left over from last year, which many of us do, then you can strike gift wrap and cards from your list.

Also, consider whether you really need to get new clothes for the Christmas party – is anyone really going to notice if you wear something that you already have from your wardrobe even if you have worn it before? With the recession underway most of us can ill afford to waste money, and buying things like new clothes just for a one off occasion could be considered frivolous spending.

Don’t forget that at the moment retailers are desperate to get customers spending again, and because of this many have slashed the prices on many of their goods, with some offering up to 75 percent off certain items. With this in mind you should find that you hardly need to pay full price for anything, and you could get your gifts, clothes, and other items at knock down prices if you spend a little time hunting around and going to the various sales that many major retailers have been holding recently.

Many supermarkets and retailers also offer three for two deals on gifts at Christmastime, and these are well worth looking at as you could get every third gift for free, which is great for those with a lot of presents to buy. Also, don’t just stick to the High Street shops when it comes to doing your shopping, as you could get a far better deal elsewhere.

Look online, where retailers often offer bigger discounts, check out marketplaces such as eBay, and even take a look at items for sale in the newspapers, as many people often offer practically new items that have been given as unwanted gifts, and on which you could save a fortune.

Going out at Christmas can be an expensive affair, not least because of things like taxi fares. You could consider having a designated driver, and each time you go out a different person can drive. Alternatively, you could consider having a party or entertaining at home, where you can relax without worrying about costly drinks at the bar and expensive taxis, and where you can order in some food, make a buffet or home cooked meal, and where everyone can contribute to the drinks.

Buying food at Christmastime can also be expensive, as many of us tend to have to buy far more over this period for entertaining as well as for Christmas dinner. This can be quite worrying considering how much the cost of food has risen over the past year. However, you can save yourself some money in a couple of ways.

First of all, you can look out for the various special deals on offer from the different supermarkets, such as buy one get one free deals and three for two deals, which most of the major supermarkets have been running. Split your shop between the different supermarkets so that you can get the best deals from each one, as this could help you to save even more.

Also, consider doing some of your shopping at the various discount supermarkets, which offer many goods at really low prices, enabling you to save money on food, drink, and other items. Going to markets can also help you to save money on things like fresh vegetables and fruit, so this is another way to save some money. And resist the temptation to buy much more than you need ‘just in case’ as you could end up wasting it all. Remember, the shops tend to only close for one day over the Christmas period, so you don’t need to stock up to any great degree.