Every year as Christmas rolls around, people find themselves struggling with the extra expense that the festive season brings. This often leads to a situation where they find themselves starting the New Year with debts that they could have done without. It can be a vicious cycle but there are some fantastic things that you can do in order to budget for Christmas, and whilst you might not get the full benefit this year they are certainly worth putting in place as soon as possible. 

Here are just 4 great ways in which you can begin budgeting for Christmas. 

1.Set a budget amount

It is always easiest to save for something if you have an amount in mind that you would like to save. Sit down and plan your budget for Christmas, work out how much approximately you would like to spend on presents for people and how much you want to set aside for Christmas food and drink. If you will be going to some Christmas parties then factor that in as well, including any transport and accommodation costs. These can often be more expensive during the festive season. Once you have a total divide it by 12 and this will give you not only your overall budget but how much you need to put aside each month to achieve it. 

2.Look for deals

The sooner you settle on your budget and start putting money aside, the sooner you can start planning for Christmas. And there is absolutely nothing wrong about hitting the sale in January and putting a few things away for December. The sales can be a great time to buy things like paper and decorations and, if you need it a new tree – retailers don’t want to store these, so they sell them off cheaply. 

3. Set up a direct debit

Once you have worked out the amount that you need to save each month for Christmas it can be a good idea to set up a direct debit or a standing order and remove it from your main bank account as soon as possible. This way you wont dip into it by accident and find yourself with a short fall. If an emergency comes up then obviously the money isnt too difficult to access but it is there if you should need it for something more urgent. Don’t forget if you are buying things for Christmas over the course of the year you may need to move some of this money back out to pay for it. 

4.Start early

If money is tight then it really is very important to start planning for Christmas as soon as you can. There are plenty of times during the year when there are bargains to be had. Familiarise yourself with the dates when various companies hold their sales and make sure you check them out as soon as you can. This will allow you to get ahead of yourself. If you do buy presents in advance remember to cross them off your list so you don’t buy again, and don’t forget where you have hidden them!