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Cut the cost of Xmas

In the run up to Christmas, many household costs are rising fast. Whether it’s the festive food, the toys, the decorations, the fuel for travel or gas for cooking, we can see prices rising from last year. With a month to go, you’re not being a Scrooge if you take control of Xmas costs. Are you on top of your Christmas budget? 


Don’t panic

You are not alone. The average family spending habits change with the run up to Christmas. A family will spend on average £750 more in December, which is about a third more than in a typical month. Spending on food and alcohol also increases, going up by an average of 20% and 38% respectively.  The cost of presents and gifts is a crazy number at around £25bn.

Easy tips for a cost relaxing Xmas

  • Cut back on non-essential spending, such as a new Christmas day outfit, fancy Christmas cards or a big Christmas tree.
  • Make a budget and stick to it. Try to spend less than an average family (£750) by keeping to an agreed budget.
  • Cut down on the list of presents. Give low cost gifts or give homemade personalised presents; it’s the thought that counts.
  • Avoid hitting the credit card. It all has to be paid back, so when using a credit stay within a budget.
  • Review your household bills and cancel any silly unused subscriptions. We all have them.  
  • Turn the thermostat down by 1 degree. Experts reckon that for every degree you turn down the thermostat, the heating bill falls by up to 10%.

Just before the big day, control buying food and drink in the supermarket. Most of us have overspent at the checkout through impulse buying. Make a list of the core festive food and favourite alcohol drinks and stick to the that list. Christmas is more than a one-off celebration, it's a one-off preparation, to reduce the financial stress in January.

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Date: 22 November 2021 by max robinson