Christmas on the cheap
Christmas may be one of the best times of year, but its also one of the most expensive. Budget for the festive season now and avoid panicking when January's credit card bill arrives.
Santa might spend all year getting ready for Christmas, but it creeps up on the rest of us and suddenly we've got presents, parties and travel to pay for. It's no fun beginning a new year in debt, so draw up a budget and stick to it. Keep reading for some tips on staying on track.
The gift of giving
It wouldn't be Christmas without presents under the tree, but you don't need to go overboard. The key is planning ahead. Discuss gifts with your friends and family and agree on whether or not to exchange them - there's no point spending money on a fabulous gift only to embarrass someone who hasn't got you one in return. If you've a steady group of friends, suggest a Secret Santa and set a financial limit. When it comes to the actual shopping itself, Anita Naik, author of The Lazy Girl's Guide to the High Life on a Budget, recommends a bit of internet research before hitting the high street. "Shop online and use comparison sites to check prices before buying gifts," she says. "Check online for vouchers - many big brands offer up to 30% off." Some good places to start include VoucherCodes.co.uk, VoucherCodes.com, Kelkoo, Pricerunner and moneysupermarket.com.
Home for Christmas
Never mind the presents - just getting to your family can cost a fortune during the holidays, especially if you have to travel by train or plane. Always book as early as possible and make sure you get a railcard if you qualify for one. An excellent guide on how to get the cheapest fare can be found on moneysavingexpert. You could also consider taking the bus; both National Express and megabus.com offer cheap fares, especially on advance bookings.
Back-to-back parties
It'd be no fun if you didn't indulge a little at all the Christmas parties, drinks and dinners you're invited to. But it's all too easy to get carried away after a few cheeky pints. To avoid waking up with pockets full of cash machine receipts, leave your debit and credit cards at home. If you can only afford to spend £20 or £30, take that amount with you in cash then you simply can't spend more.
Dont try to outdo Jamie or Nigella your loved ones are likely to be much happier with a standard Christmas feed than an exotic dish.
It's also a good idea to carry a stash of restaurant and bar vouchers - also available on the voucher sites listed above - in your bag to cut the cost of socialising.
Christmas dinner
Planning on hosting a Christmas feast? Don't try to outdo Jamie or Nigella - your loved ones are likely to be much happier with a standard Christmas feed than an exotic dish containing 75 different herbs. Stock up on non-perishables and alcohol in advance; taking advantage of 'buy one, get one free' deals will avoid a huge bill the week before Christmas. Make a list and stick to it, advises Naik. "Don't buy too much food, mix and match where the food comes from - basic ranges and basic supermarkets mixed with your favourite stuff - and ask family to bring extras, such as alcohol, snacks and chocolates, so you can focus on the main."
Make extra money
If you're aged 18 or 19 you could get free alcohol by signing up for Serve Legal. The company will pay you about £8 plus travel expenses to go to a store and buy alcohol, so long as you report back on whether you were asked for ID. Mystery shopping - where companies hire you to visit businesses and report back on the service you received - can also be a good way to get some free goodies. Rachel Hudson of Mystery Shoppers Limited says assignments range from retail outlets to restaurant chains and even lap dancing clubs! Usually, you'll receive either free stuff or money. "If you're going into a store and buying a £50 item of clothing that you are allowed to keep and get refunded for, the actual payment for filling in the report form will be very little, but if there's no benefit involved the fee will be higher." However, Hudson warns that there are several scams operating where new recruits are asked for money before signing up with agencies and advises against this.
Limit the debt
If you've done all the sums and realise there's no way your funds are going to stretch over Christmas the worst thing you can do is bury your head in the sand. Try applying for a 0% credit card if you think you can pay it back before the company start adding interest, or make special arrangements with your bank.
By Joanne Christie
