Have you been worried about spending a fortune on presents this Christmas? Maybe you’ve even had to cut back so you can see your family this holiday? Christmas and money perhaps bringing you unnecessary financial stress?
Christmas is usually a happy time filled with merry and cheer. Sadly, it can become stressful due to financial pressures, which can affect our mental health. We also know that this year it can feel especially difficult.
But we should remember that this holiday isn’t about spending money on gifts at the end of the day, but about spending valuable time with our loved ones.
For the rest of this article, we’ve come up with some useful tips and reminders that can help relieve your financial stress this Christmas.
- Prioritise what you spend on
Many of us don’t realise that small expenses can quickly add up, and before we know it this can strain our bank accounts.
What can help with saving is to find more cost-effective approaches without having to sacrifice the essentials. Rather than buying a cappuccino every morning, why not consider buying some instant coffee and preparing it at home?
Or if you like to spend time with your friends during the weekend, you can perhaps suggest gathering together at someone’s home instead of going to the pub.
Try to avoid making purchases that can wait until after the holidays are over. You’ll end up saving a little bit every day, and it can go a long way in improving your Christmas finances!
- Celebrate Christmas on a budget
Christmas feels all the more special when you have a big, beautiful tree adorned with ornaments sitting in the corner.
But don’t feel the need to spruce up your place with other decorations that’ll soon get taken down, like various twinkling lights and garlands. A Christmas tree alone is more than fine for decorations. And it doesn’t have to be big either!
Secret Santa is also a good option for being budget-friendly this Christmas. You can get a gift for a family member with an agreed-upon budget, instead of buying presents for all the relatives.
Luckily, festive cheer doesn’t cost a thing.
- Don’t be afraid to say no
Christmas is more than just spending money on gifts. Significantly, it’s about being around the people you love.
But there are some that expect too much – like an expensive present or a lavish feast for Christmas Eve.
Financial stress tends to comes with feelings of guilt. Try not to be afraid though with letting people know that you can’t give presents this Christmas. Whatever their response is is a reflection of who they are.
You might even find that some relatives might be relieved, as they’re in the same boat as you.
- Delegate the festivities
Hosting Christmas in itself can be a handful with all the things you have to juggle. Why not delegate responsibilities to a few people this year? Don’t feel pressured to foot the entire bill if your wallet can’t handle it.
Rather than splurging on a grand meal complete with all the trimmings, you can ask everyone to bring a plate of food. (Just make sure that you don’t end up with too much!)
- Focus on the memories
‘Tis the season to be jolly, and you can still accomplish that by doing simple things together as a family.
Pop on a holiday film with some hot chocolate, stroll through a Christmas market or make some mulled wine together.
Christmas and money can feel overwhelming, but you don’t have to experience that this year. At the end of the day, what makes this holiday so special is making happy memories with your friends and family.
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