Christmas is a wonderful time for families to get together and spend time with each other. Unfortunately for many families in today’s difficult economic climate, the pressure on family finances makes it hard to give everyone the Christmas they’d like. This point is especially true if your family has young children who will no doubt want one or more of the latest and greatest presents on the market, such as a PS4 or new mountain bike. The financial pressure to give presents to not only family members but also to friends, as well as pay for food and drink for Christmas day celebrations, can take some of the fun and joy out of the experience. Thankfully by following some wise money saving tips for families this Christmas, you can still give your family the Christmas you really want to, but with the added bonus of not having to spend so much money to do so that it takes away the enjoyment of the festive season!
Thoroughly Go Through Your Finances First
Before setting budgets and deciding which of the suggested savings in this article to implement during this year’s Christmas, it it important to have a look through your finances in detail. See exactly what your incomings and outgoings are. Sort out everything which hasn’t been taken care of such as outstanding bills. If you don’t already have a personal accident insurance policy, then be sure to sign up for one to put your family’s finances on a strong foundation in case of all eventualities. Once you see exactly where you stand you will know how much of the money saving tips you will need to use this Christmas.
Shop At Lower Priced Supermarkets
Food and drink are a large Christmas expense, especially if you are preparing Christmas dinner for an extended family. By choosing to buy the bulk of your the foodstuffs at smaller, less expensive supermarkets such as Aldi and Lidl, you can save considerably over the Christmas period.
Give Some Gifts Which Don’t Have To Be Paid For Until Next Year
It would obviously not be in keeping with the spirit of Christmas to not give presents on Christmas day, but instead to let people know that they will get the gifts when the January Sales come about with far lower prices. However, there are other ways that you can delay purchasing some Christmas gives without leaving anyone feeling disappointed on Christmas Day. An example of how to do this in a nice way would be to gift a family outing or an experience such as getting front-row seats for a popular football match some time next year.
Use What Money You Have Wisely
An example of getting more out of your money could be to take out a Netflix subscription for the Christmas holidays rather than adding on several far more expensive satellite channels to your TV package. Savings can also be made by buying own brand fizzy drinks rather than dearer premium brands like Cola and Sprite. Added up, these savings can be significant and make Christmas less of s struggle financially!