Christmas is just around the corner. It is already a stressful time of year, but COVID-19 has made this year more difficult for many. According to Finder, Australian households spent an average of $969 on Christmas last year. We’ve compiled a few tips to help your budget during Christmas this year!
1. Make a list and check it twice!
To help plan out your Christmas spending, it is a great idea to create a list of everyone you are buying for and outline how much money you are going to spend on each individual. Be realistic – it is better to have an affordable Christmas than racking up credit card debt.
2. Shop second hand
COVID-19 has caused countless problems with stock levels, and there is a short supply of incoming freight. Many products have been out of stock for months! This makes it a fantastic time to shop second hand to get great items for a fraction of the price. You can go to your local second hand shop or look online at places like Gumtree or Facebook Marketplace for some bargains.
3. Budget for the other parts of Christmas
When talking about Christmas spending, most people only consider the gifts. But what about all the other fun parts of Christmas? Make sure you consider the additional costs involved – food and drinks, decorations, work parties, and dining out to name just a few.
4. Start buying now
Shops are already full of Christmas food and decorations. You can start buying non-perishable items ahead of time if you see them on sale.
5. Spread the spending
A lot of people spend Christmas with their families and friends. To help your budget, talk with your relatives and friends to organise a combined lunch budget, and everyone can bring a plate to share.
6. Be inclusive
It is very important to keep everyone in mind, particularly this year. Some people will be in a better financial situation than others, so keep your Christmas celebrations inclusive. Organise affordable and simple plans that everyone can get involved in.
Get in touch if you need guidance on your budget this Christmas.