Did you know the average UK resident is set to spend £596 on gifts alone this festive season?*
While the holidays are a time for joy, celebration and coming together, they can also bring unexpected bills and financial stress. In other words, it’s easy for your spending to snowball during this busy time of year.
That’s why we’re launching #StopTheSnowball, a campaign designed to help you take control of your finances and budget for the holiday period. Throughout the season, we’ll be sharing practical money-saving tips, mindful spending strategies and simple tools to help you plan and budget for the holidays.
From keeping up with bills to saving on festive treats and thoughtful gifting, our goal is to help you manage your money with confidence – so you can focus on enjoying the season without the worry.
5 essential tips for budgeting for the holidays:
To help you stay on track, here are five practical tips to help you make budgeting for the holidays stress-free:
- Needs come first
Before diving into festive spending, make sure your essentials are covered – rent, bills, and food come first. Once your needs are sorted, you can budget for those little extras that make the season special. Learn more about needs vs wants in our short video. - Budget for everything
It’s really easy to overlook the little things – like gift wrap and cards, the office Secret Santa gift or travel tickets to festive events. These extras can add up fast! Take a moment to map it all out and include even the small stuff in your holiday budget. - Plan your presents
For holiday gifts, plan your spending before buying presents impulsively. Use our free holiday gift budgeting template so you have a clear idea of who you’re buying for and how much you can afford to spend on each person! Choose from 3 festive designs and you can also print out a version for those additional extras mentioned in tip 2! - Dig out the decorations
Before splurging on new baubles or lights, check what you’ve already got. Reusing decorations from previous years saves money and reduces waste. Trust us – no one will notice (or mind) if you repurpose decorations year in, year out! - Don’t forget about January
Some companies issue December pay a week early. It might feel great at the time to get paid earlier than usual but remember that money will need to last until the end of January. Put aside important costs for the new year and remember to budget ahead if possible.
Why budgeting for the holidays matters
Without a clear plan, expenses this time of year can mount up unexpectedly. Looking at costs across the board will really help you get a handle on how much you can afford to spend this season. Take your time to do your research and see if you can find value for money. It’s all about finding balance, so you can enjoy this season without financial stress and start the new year debt-free and with better financial wellbeing. Don’t let your money worries snowball into the new year!
Check out our article for more great tips on budget friendly gift ideas for all the family and creative ways to save money on presents.
Join the movement to #StopTheSnowball
Follow us on social media for more tips and advice throughout the month. You can also see our festive logo as voted for by our followers – a big thanks for those who took part!
Let’s work together to budget for the holidays, avoid financial stress, and make this festive season a joyful, debt-free one.
* Source: Finder 2024, https://www.finder.com/uk/banking/christmas-shopping-statistics
