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Prepare for Christmas: 5 Tips to get ready for a happy financial festive season


Christmas presents
Christmas is just around the corner

Getting ready for Christmas and the holiday season

Christmas is just around the corner - literally days away and the next few weeks may feel like you are forever spending on decorations, gifts, toys, clothes, recipes and so on.

As COVID put the brakes on last year’s festivities, for many this will be the first time in at least a year that they are able to catch-up with family and friends.

While family reunions will undoubtedly bring joy, without proper planning this holiday season, those extra meals and gifts can easily sting the budget.


How to survive Christmas and the festive season in good financial shape

Here are five tips to prepare for Christmas and have a happy financial festive season.


1. BUY GIFTS EARLY

With global supply shortages and delivery delays, the earlier you can get organised with the gift buying the better. The best place to start is with a Christmas shopping list. This focuses the mind and helps with budgeting and managing your finances. Hitting the shops or online retailers early with a shopping list may help you snag a bargain as well as assisting with keeping to a budget. if you are shipping those gifts around the country or overseas it will ensure you have plenty of time for them to arrive at their destination.


2. SET A CHRISTMAS DAY BUDGET – AND ASK OTHERS TO CHIP IN

Gifts are not the only pressure on the budget. Holiday food is not immune to increased prices and impulse buying, Christmas lunch for example can quickly see the budget explode. To combat this, have a set amount and a list of items to purchase and ask others to bring a plate, drinks or supplies to reduce the pressure on your funds.


3. PUT MONEY ASIDE FOR HOLIDAYS

The seasonal shut-down period is a great time to get to the beach, the mountains, the slopes or to enjoy a staycation at home. The lead-up to Christmas can bite into the cash pile you may have otherwise used for the holidays. A simple solution is to have a separate savings account for the Christmas and the holidays, covering meals, family activities and transport costs.


4. GET CREATIVE IF CASH IS SHORT

The seasonal break can be very draining on the bank balance so get creative with holiday ideas to boost your finances such as:

  • House swap with another family,

  • Pet-sitting or house sitting

  • Camping and renting out the family home via AirBnB.


5. PLAN TO GET FINANCES BACK ON TRACK IN JANUARY

There’s no better time than the New Year to to recover from the Christmas season and reset your finances by setting some goals for the 12 months ahead. Get our Personal Budget Tracker to help make that New Year’s resolution of a stress-free festive season in 2022 a reality.


Final Word

Christmas comes but once per year so keeping a level head and a financial plan in mind when navigating the festive season is essential. Remember these five tips to get you on your way for a productive season. Buy Christmas gifts early to benefit from discounts and bargains and ensure the gifts arrive to their destination without delay. Set a Christmas Day budget and get family and friends to pitch in to ease the cash crunch. Boost your finances by finding creative ways to save money for the holidays. Most importantly, be ready and plan to get your finances back on track for the New Year.

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