It is almost the end of the year, a time for holiday, relaxation and Christmas. Christmas is
usually and expensive time of the year, but it doesn’t have to be. As we all spent last
Christmas in lockdown, people may want to treat the family more than usual. Be that as it
may, it doesn’t mean that you have to spend more money than is wise.
By planning, budgeting and being super careful with your spending, Christmas needn’t be an
Planning is key
Think about what you are going to do this Christmas. With Covid still lurking, you may
decide to forego the annual holiday. This makes sense both financially and health wise. The
type of Christmas you would like to have with your family depends on the plan you have in
place. Decide what you are prepared to spend money on, and stick to the plan
Once you have your plan in place, you can determine your available budget. Your budget is
an excellent tool to help you keep to your spending (or not spending) goals. Stick to the
budget you have drawn up. This ay you are unlikely to overspend.
Don’t be tempted by ‘buy no, pay later’
Maxing out your store cards and credit cards is not a good idea. Buying on credit usually
costs more than what the item is worth, so avoid it, especially during this time.
A word on gifts
We all like to give. To our children, other family members and to friends. But is it really
necessary to buy expensive gifts? Perhaps you could enlist the family, your children
especially, to help bake cookies to give as a gift. You could also try re-gifting. A gently used
gift is as good as a new one, particularly if the person receiving the gift needs it.
Think about food
Christmas is about family visiting and enjoying a super lunch, whether it is a braai, or a meal
cooked indoors. Here costs can be cut down too. Suggest a bring and braai, or for the indoor
meal, ask each guest to bring a dish.
There are many ways to help you cut down on unnecessary spending this Christmas. Use
Christmas this year to enjoy being with family and friends, but without the additional
You can save this Christmas. Speak to One Debt today.