If you did, you’re not alone. According to new research 47% of people regretted spending so much at Christmas. As we are now feeling the [inch from paying off the credit card bills which landed at the end of January, it’s hard to imagine ever spending so much again. However 57% of people admitted that they would spend more again next year to keep their families happy.
It is hard to keep to a budget at Christmas, online voucher code and money saving website My Voucher Codes found from their study that 35% of people had overspent, 38% of people had kept to their budget and 27% had spent under their budget.
It’s hard not to go all out for Christmas, you want to buy your kids the gifts they want and as you have been working hard all year you want to enjoy yourself too. There are plenty of ways to still have a good Christmas without spending lots or getting into debt, check out our tips below.
Tips for sticking to a budget
- Set aside money specifically for Christmas.
- Keep it in a savings account and don’t touch unless you’re buying for Christmas.
- Plan who you are buying for and how much you’re spending.
- Budget costs for food and drink.
- Budget costs for decorations, card and wrap.
- Set some of your budget for going out and socialising over Christmas.
- Make sure you set aside some of the budget for unforeseen expenses.
- Stick to your budgets
- If you overspend look to save elsewhere, such as food and drink or socialising.
As we are only in February, it might seem odd to start thinking and planning for next Christmas, however if you think about it you have quite a head start, to saving and shopping. Keep an eye out throughout the year for sale bargains, so you can get ahead of the shopping, just don’t forget to make a note of all the stuff you have bought and tick it off your list.