Hello all, Ell here. If this is your first time here, why not check out the About page to find out a little bit about me. I have talked about how a Statement of Affairs has helped me to start creating a family budget. For more information on this, read my post here. In today’s post I want to talk about a Christmas budget. In 2016 Brits spent an average of £636 on credit cards for Christmas gifts. The total amount of spending consumers put on credit was £11 billion. That’s an insane amount of money!
In the past I have definitely been guilty of adding to credit card debt. But I decided that I wasn’t going to increase any more debt. This year was going to be my year of change. I’ll share with you how I decided on our budget. I will also share tips on how to stick to the budget.
So here is what I did. I created a checklist and it has helped me so much. This year I am already on track to have a wonderful Christmas, without the debt hanging over me in January.
- Make a list of all the people I need to buy gifts for.
- Work out from my budget how much money I can save each month for Christmas. With this I have worked out the total money I have for my Christmas Budget.
- Split the Christmas budget between all the people in list 1.
- Make a shopping list for everyone.
- Look for prices of all the gift ideas I have.
- Look for discount codes or vouchers to get money off wherever possible.
- Use a cashback website, like TopCashBack or Quidco. I have earned so much cashback over the years through these websites.
- Keep track of the money I have spent on gifts to make sure I stay on track
As a result of the checklist, I have money saved now for the Christmas budget and have started my Christmas shopping. I have kept track of what I’ve spent on You Need a Budget. It’s helped me so much to keep account of all our money! I’ll talk more about it another time though. A notepad or a spreadsheet would also be fine to keep track.
One other thing I have done to help with the Christmas Budget is use the Asda Christmas Savings Card. It’s great! I picked up a card from in store and registered it on the Asda Christmas Savings card website. Then every few weeks I have gone into Asda and topped it up with some money. Sometimes I have topped up with £5, but sometimes I’ve topped up less than that. I usually topped it up based on how much money was left over in my grocery budget for the month. It’s helped a lot because I’m currently on £92 which will be plenty for our Christmas groceries for the two weeks that we’re all at home during the Christmas break. Asda even give a small bonus towards the end of November.
Finally, in the next few weeks I’m going to make a grocery list. It will include the Christmas dinner, some party food and some extra special Christmas treats. When I have come up with my grocery list I will share it with you guys, to show how I have stuck to a budget.
I’ve always found that the best place to get wrapping paper from is Costco. The rolls of wrapping paper are huge and seem to last forever. Therefore, I have decided that I will go to Costco again this year for the wrapping paper. One roll is usually enough to wrap all the gifts we buy. It’s also great quality because it’s quite thick. My favourite thing about the Costco wrapping paper though is that it is reversible. I love the look of gifts wrapped in different, but coordinated paper, so this is a great way to achieve that look without having to buy too much.
Do you have any Christmas budget tricks to share? How do you and your family decide on your Christmas budget? Does your food budget go out the window at Christmas or do you stick to your regular budget?
If you liked my ideas, why not share it with your friends and family using the share buttons below. Come back soon for more budget tips.