We all know that the festive period is becoming more and more expensive. When I was young, you would make do with a stocking and a fresh clementine. And that was if you were lucky! Now it seems that we’re all being encouraged to raid our savings to buy big flashy gifts for everyone from the grandkids to the milkman. If you’re worried about how far your money will stretch this festive period, here’s a few considerations that can take the pressure off.

Stick to a Budget

Christmas is a time where we feel like digging a little bit deeper into our pockets to show our loved ones how much we care. And while it is nice to go that extra mile, you don’t want to be in a position that any other Brits find themselves in whereby they have spent more money than they can afford.

If you use a template sheet to map out what gifts you’re buying and who you are buying them for, you will have a much clearer view of what your Christmas budget will be. Taking these extra steps will pay dividends when it comes to keeping your spending in toe and ensuring you don’t spend your way into debt.

The Homemade Option

If you put the telly on any time near Christmas, you’ll be bombarded with adverts for all kinds of gadgets and gizmos that are designed to show your loved ones how much you care. In my experience, it has been the homemade gifts that are the ones that have been remembered and cherished.

There are all kinds of different things you can try here. Whether you want to have a go at a spot of DIY, or you can even go more personal by writing a Christmas poem. All these ideas will cost a fraction of the latest iPhone, which will most likely be obsolete within a year or two.

Treating the Grandkids

When it comes to gift giving, I think we can all admit that the one group that takes priority over pretty much everyone else is the grandkids. After all, which grandparent doesn’t enjoy spoiling their kid’s kids at this time of year? They’re the ones who find Christmas a magical experience.

You might be lucky enough to have a big family with lots of grandchildren. However, this will mean that the costs of gifts will multiply. A cost-effective way around this is to organise an evening where you can treat the grandkids to a meal together. Making a night of it will create some beautiful memories and will likely be cheaper than buying individual gifts.

We are under increasing amounts of pressure when it comes to our finances these days. With the age at which we are entitled to a state pension being raised and the rising average cost of a funeral, there are long term expenses that we must be mindful of.

In taking a bit of care with your Christmas shopping, you can be sure that you won’t be caught out by unexpected expenses and you can enjoy a debt-free retirement.