Christmas comes but once a year, thank goodness, because we couldn’t afford it twice. Thinkmoney consumer expert Vix Leyton says it’s never too early to think about the “C” word if it means not overspending, using up your social bandwidth or thinking you’ll bag a bargain on Black Friday.
Social plans and pub rounds
“Your social and financial bandwidth are interlinked,” says Leyton, “and you’ve only got so much to go around.” Saying yes to all the Christmas drinks now might hit different when you’re out for the fourth day in a row in December with Colin from accounts, or the “let’s just go for one drink” which inevitably turns into an all-nighter.
“It’s easy to fill up that social calendar,” says Leyton. “People who haven’t seen you all year start to feel guilty about it and want to get something in before, what is, an arbitrary calendar point. Remember – we’re all going to be around after Christmas!”
If you are planning on only staying for one drink, just say that, advises Leyton. “People are worried about not buying their round, but it is OK just to have one drink and go home. You don’t have to make a social contract with everybody around the table to buy every drink!” If you’re worried about speaking out, Leyton says be the person you need around that table. “Think about the other person who’s also a bit shy to say anything, and how relieved they will feel if you make a stand.”
Gifts and surprises
Audit your list of gift recipients to avoid getting into a buying habit with some family members, who may be looking for a way out. “If it’s going to be a tight year, have that conversation now,” advises Leyton. “You don’t have to say, ‘I’m not buying presents,’ but you could agree to some rules, such as doing a Secret Santa or just buying for the kids. And just because someone’s bought you a gift, it doesn’t mean you have to buy them one back.”
“I think we’ve been conditioned that the surprise is worth more than the present itself,” says Leyton. “Ask yourself – does the person you’re buying for actually want the item, or will it just end up being landfill?” Those “three for two” may look like nicely packaged gifts but it’s better to ask someone what they genuinely want for Christmas. “It might be they’re saving for something and would rather have a gift voucher,” she adds. “Or maybe they want your time – like babysitting or cooking them dinner.”
The retail juggernaut gets started early – and it sometimes feels like we’ve forgotten the spirit of Christmas. “It’s not just about stuff!” argues Leyton. “We’re all now putting ourselves under too much pressure and spending more than we’ve got. Especially with present creep, it’s so easy to get a couple of extra stocking fillers because they’re a bit novel, but is it worth it? Family and friends would hate to think you’re sacrificing yourself financially to buy them tat they don’t want.”
Cupboards, credit and last-minute shopping
Supermarkets always bring out those traditional Christmas boxes of Turkish delight or German ginger biscuits, but Leyton says, “Every house has a traditional food that they buy – and nobody ever eats. Remember what was left over and don’t buy it again. We’re also culturally less likely to just ‘drop in for a sherry and a mince pie’. If you’re inviting people over, ask them to bring mince pies while you make mulled wine.”
The supermarkets are after your big Christmas shop, so it’s a great time to shop around. “You will see the cheapest rates on Christmas staples like Bailey’s or tubs of Quality Street,” says Leyton, “but avoid the ‘three for twos’ unless you really need them, and don’t buy them too early, or they’ll get eaten!”
Ignore the Christmas advertisements that tell you buying a diamond necklace in 10 easy instalments is the only thing that will make the season perfect. “Don’t spend money you don’t have and kick the problem into the new year,” says Leyton. “As tempting as it is to spend a couple of extra pounds on credit cards or Buy Now Pay Later, debt racks up very quickly. Set a strict budget and pay in cash.”
“Nobody wants to be panic shopping on Christmas Eve, so buying presents and wrapping them over the next few months will make December more relaxed,” advises Leyton. “Although remember what you got to avoid double buying.” Getting travel tickets in advance is also a saving. “If you’re planning to travel home for Christmas and not drive, get your train tickets as soon as they come out at the end of September.”
Black Friday waste
“The creep of Black Friday Cyber Weekend means it is now a month-long event, and there is so much going on, it is almost impossible to know when a deal is a good deal,” admits Leyton. “It’s only worth it if you know you have a big purchase coming up, like a TV or washing machine, but check the price on Google, and don’t forget to take into account delivery.”
