Worried about next years xmas budget!

[Cherryrainbow]

I know this is way in advance but if anyone has any tips for next year I would really appreciate it as people may have gone through this last year/this year!

I'm going to be having baby no 2 in September, and so I'll be paid for 6 months full, 3 months amp, then unpaid until return to work. We think when I return it works out better in the long term for childcare costs etc for me to actually drop a day or hours. Which means a drop in money and savings.

Any advice on how to budget for xmas when there is a drop in wages and less savings after outgoings? I have a boy who by end of next year will be 8, my oh will have a 7 year old and the baby at 1 so we have 3 kids to consider from now on.

To give an idea this year we are spending 130 on each of the boys (little one we are just putting some of the baby gifts and stuff we already have aside). I spend 50 on the OH and use boots points on my parents and sister x

Set up a savings account/use an existing dormant one. About 6 years ago I started doing this. The day I got paid I put aside £20 a month. It meant I had a small pot come Oct/Nov to make a start. The next year DH did the same so we had nearly £500. Over the years we have been able to increase as you dont notice an extra tenner a month. We now save £50 each and it pays for everything, all presents, days out, xmas food shopping etc.

Can you do something similar? If you both start now is a tenner each a month doable? Would give you a nice little pot come next year.

I use Chip - it’s an app which takes a little money from my account every few day without me noticing. It’s great as it means I save quite a lot for Christmas

I do a Christmas club as well.
X amount of dollars into a separate account each pay,
As children, it paid for presents and contributed to school books each year.
As they grew, paid for uniforms and books each year as well as presents.
Now pays for food, flights home and presents as well as car hire when with parents for holiday

Thanks guys I'm going to look at open a savings account with my bank that I can get instant access to, I dont think the interest is great but I'm more interested in making sure that its kept separate from all my other funds and used as and when needed

I would probably spend very little on the baby (and buy second hand) and on family and prioritise the older dc.

I've got a monzo card with different pots. You can move money around instantly for access if you need it.

I can be quite frankly a bit shit with money, spend it like water but transferring it into the pots is really helpful. I put 50-100 a month into Christmas.

You mentioned Boots points - sign up for Nectar too. You don't have to shop at Sainsburys for it - you can earn points through eBay purchases and things too, and it all adds up.

Also, get yourself onto the bargain threads early. A good chunk of my Christmas shopping is already done, and the value of it all is nearly double what I've actually spent.

Buy gifts in the Boxing Day sales! You can get exactly the same stuff they bring out the following year but at 50% off or more!!

Ooh - a timely email just reminded me... Sign up for Mumsnet product tests for anything you'd otherwise buy, so that if you're selected you can re-direct the money you would have spent to your Christmas fund. I've just been selected to test some nappies!

I don't think I worded that well... I mean signing up to test essentials type things. Like if it's for kids food, that's a meal or some snacks that you don't have to buy.

Tell friends and family that you won't be able to afford gifts next Xmas and concentrate on your children.

Buy throughout the year in sales, as you can get the same items cheaper eg I buy wrapping paper in the Boxing Day sales (works out to be 3 rolls for £1).

In sept/Oct, start adding 1-2 food items to your normal food shop , as you won't notice the cost. Buy items that will until Xmas and grab any offers you see.

Don't buy extras like crackers and gift tags. Also, don't buy more food than you are going to eat - Xmas dinner is just a glorified roast, so don't go overboard.

Buy your children some 'useful' items like scarves, hats, umbrellas,stationery as gifts. I make my children various hampers eg wrap a box and throw in lots of sweets.

I save £10 a week (you could do monthly if it works better), so over a year I have just over £500. I spend about £100 on each of the kids birthdays (I have 2), then £300 for Christmas. This covers £100 for each kid (£50 us, £50 'Santa') the £100 for extended family, mainly sub £20 token gifts.

Food and decorations I get in with the food shop, from September onwards. Usually 2-3 bits each time, depending what's on offer.

As I always have some money in the account I can get anything I see reduced throughout the year, so don't miss deals by waiting for payday. I quite like argos for kids toys, especially if you can stack offers (eg. Last year the was a 20% of all toys, which I then used on toys from the 2for15, so got stuff that should have been £10-£12 for £6). Also check there clearance section, it's very hit and miss as to what they've got at your local store, but if you get lucky the reductions are great. I also check the stores near my mum's house.

There are lots of ways of making Christmas special without spending lots of money on presents. For example making decorations, making a big deal of dressing the tree, making Christmas biscuits, finding lovely ways of wrapping inexpensive presents: got chocolate whilst singing Christmas songs etc etc

I thought I added a reply the other day it must not have posted correctly!

We have stuff like wrapping paper and xmas crackers etc. Aside already (gotta love the sales!). And so many xmas decs already theres really no need to buy more every year so that'll be a saving. I'm also keeping the food down this year after my first attempt at cooking dinner last year, I overdid the sides! Looking to keep it simple - pigs in blankets with mash and veg for me and my son (hes not keen on Sunday dinners etc) and a pescatarian something or other for my OH.

I've opened up a savings account and put some money in already. Going to keep track of that and use the gift list app next year like I'm doing this year to keep track and discipline myself to not go crazy!

I've looked at my budget and hope to bring some costs down - renewing phone contract end of month hopefully much cheaper and reduce prices when car insurance up etc.

We have done book advent calendars and movie nights via Netflix in the past few years. I've been saving some craft and game ideas on pinterest to hopefully do this year x

Maybe scale back a little bit on what you would buy your DC this year so that it is not noticed so much if you can't do as much next year? You sound well organised so just do that again too and maybe tell family you can't do presents for them next year and only do the children in your family or set up a secret Santa?

For your 1 year old i’d recommend looking on local FB groups for nice second hand toys - I have done this the last few years (DD will be 4 this Christmas) and have got some really decent stuff e.g. duplo, happyland, scooter for a great price. The first year I felt terrible about second hand toys but really now I’m a convert!
I also make sure the kids get things they also need as presents eg vests, socks, pants, nice bubble bath, new toothbrush etc and last year I bulked their stockings out with plenty of chocolate (Aldi great for this!)