How to Avoid Overspending this Christmas Season

Education

Nov 26

How to Avoid Overspending this Christmas SeasonFive easy ways to keep your budget in balance and avoid spending too much over the Christmas season. 

Twinkling lights. Christmas markets. Mulled wine, mince pies and the annual Christmas adverts…

It’s easy to get carried away with the holiday spirit and find yourself spending a lot more than you’d planned!

At such expensive time of year, it’s a good time to take stock and make a plan to keep from overspending this Christmas season.

Five ways to keep from overspending this Christmas:

1. Plan ahead.

It’s wise to decide ahead of time how much you want to spend on all your gifts before you start shopping. Take stock of your finances and set aside a specific amount, then write a list for every person you need to get a gift for. 

Putting it all in writing before heading to the shops or visiting Amazon will help you stay within your budget.

avoid overspending christmas

2. Look for deals—but don’t buy on impulse!

Right now is a great time to grab the best prices of the season on all sorts of goods (including our Black Friday UPW offer!), but it can also be very easy to buy something you don’t need or hadn’t planned on just because you spot a good deal.

Before you buy anything, remember your plan and decide if it’s a worthy purchase.

Remember: it’s only a good deal if it’s something you were going to buy already!

3. Make your own gifts.

Making your own gifts can be a great way to save some money, and if you have kids it can also be a fun family activity.

Solid homemade holiday favourites include Christmas baking, handmade ornaments, or anything you happen to be really good at (knitting, video collages, etc).

This website has a great round up of adorable homemade Christmas gifts. Just be careful you don’t overspend on supplies!

avoid overspending at christmas

4. Give the gift of time.

What’s the greatest gift you can give over the holidays? Time well spent together. As the saying goes, the best present is your presence.

Tony Robbins has a good list of 25 free family holidays activities on his blog, many of which are also fun ideas for friend activities, like holiday movie nights or holiday party games!

5. Give the gift of giving.

Instead of buying someone a gift they may not want, consider making a donation to a charitable cause in their name. 

Pick a cause that’s close to their heart (the RSPCA, Action for Children, and Crisis are all great causes in the UK) and write a sweet note about why you decided to donate in their honour.

avoid overspending christmas

As an added bonus, you won’t just be giving a gift that will make someone else feel good, you’ll also be supporting a valuable cause, sticking to your budget (since you donate an allocated amount) and cutting down on the cycle of waste and unwanted gifts that proliferates around the holidays.

That’s a win-win-win-win!

Got any other ideas to avoid overspending at Christmas? Share them on social media and tag us to let us know!

Want more content like this? Sign up for our weekly newsletter!