Budgeting - how!

[HarkTheHeraldAngels]

Friendly replies only please! I really don't want arguing or boasting over how much everyone spends on Christmas presents or Christmas in general but...

How do you budget for Christmas? Do you look at what you take home after bills etc and work it out from there or do you pick a number you feel is realistic and save/look for bargains under that.

I usually budget for gifts but never sit down and work out what I can spend on everything else but this year it is becoming a necessity that this is done. I'm talking the food, decorations, days out etc.

Thank you!

I do vouchers, it's the only sensible financial thing I do in life! Works brilliantly, I also work for the nhs and this year have gotten my boys electronics on salary sacrifice which has been great too!

Also, look at what you wasted food wise, what wasn't a hit and cut it out this Christmas. People tend to overbuy especially food and then bin a few hundred pounds worth later on

Simple answer to this is to reduce your food expenditure. The shops are open throughout the holidays so you can buy whatever is needed. There's no need to buy 5kg of cheese and bin half of it in Feb after it's gone off.

Same with toys, look at what your children actually used throughout the year & reduce it. Concentrate on experiences such as theatre tokens for trips later on the year etc.

I try and buy throughout the year. I know roughly what the kids are into so pick bits up but not the big present as that's often subject to change!
You could buy other adult family members early though, this helps me spread the cost so its not a big bill in November/ December when days out, food shopping starts.

I have a rough budget for gifts per person and note down some ideas through the year to wait on Black Friday or similar sales. Like a PP said don’t be buying tat for the sake of it.

After a health scare last year we drastically reduced our food and alcohol spend and didn’t really miss it. It had just become a habit. There wasn’t waste before as it would all get eaten but we didn’t necessarily enjoy it want it. We tried something different for tea/supper on Christmas Day but it didn’t really work out so back to the drawing board on that one!

Despite suffering from severe FOMO I only plan in one Christmas trip/event. DC are getting too old for Santa now but I can’t see why people visit six different santas at £20pp.

I have a lovely stash of decorations and just buy one or two new things to keep things fresh.

Step 1 - October: begin to panic and order everything over a few months of sheer panic and regret.

Step 2 - January say with adamancy “we’re going to buy two things every month up until Christmas to avoid last years panic”

Step 3 - Repeat.

I buy money wallets from January I put money in each month as my nieces and nephews are older I give €20 each and godchildren €50 I have 15 to get for the younger ones I buy toys. I have two DC I save for my older DC and my younger one I buy stuff as I go. We have Christmas dinner at home it's just a normal grocery shop for us. My DH gets lots of chocolates, biscuits and wine from work so don't need to buy that stuff. DH and I just get each other something small to open then it's both are parents and we do Kris kindle with extended family.

I have all the nieces and nephews finished for Christmas. I'm finished my younger DC will put some money aside for something she might ask her closer to Christmas. I do stockings for my DC but it's just sweets.

I have 10 birthdays leading up to Christmas four of which are in December. So put money on my revolt for birthdays each month.

I buy presents throughout the year when offfers on. Similar with foods like biscuits/chocolates/crackers etc.

It's an old tip but works for me. I have a set weekly budget for food. Instead of doing my weekly shopping on the same day every week I shop every 8 days and meal plan. Day 8 is throw together any leftovers etc into soup , risotto type meal. That way you gain 6 week's housekeeping money a year. It covers our Xmas food shop and some extras.

Wow thanks so much for all your replies. I have made notes on every reply and as much as I want tor reply to each and every one of you individually, it might end up being a long post from me!

The first thing I've come away with is I need to look at how to save properly, I think I'll look at Martin Lewis and some budgeting/money threads on here. I do not have a big pot of savings as we rarely seem to have money to put away. However, money goes out here and there especially over the summer on cafes, soft play etc etc.

I am embarrassed to say I am clueless when it comes to saving accounts. I liked the idea of the savings account you can round up when using your card. But would also like to pay in money to a pot each month. Maybe not the same set amount as it could differ each month.

What's your aim - to make Christmas cheaper or to spread the cost or just to know what you spend?
My main aim is to spread the cost and know what I spend. I've followed the bargain thread for years and have been able to make it cheaper as well as cutting down on spending etc. I guess it's more about knowing what I can spend and track my spending rather than just buying bargains.

I've been in my Christmas present stash and noted down everything I've already bought and how much each thing was. So that is a backwards way of starting I know but at least I know I have a pile of gifts already.

I have a Monzo account and round up into one pot but can have as many as you like really!!

We worked out what we spent on gifts, then doubled it to account for extra trips out etc at Christmas time, and it came to £800. Worked out that we could only afford to save £50 per month towards Christmas so £600 is our budget for this year

I put money aside each month for Christmas. I have a rough budget for everyone we buy for. I usually start shopping early so I can keep an eye out for sales especially for the kids stuff. The money I put aside each month is also used for Birthday gifts and will have some spare money for Christmas activities like going to see Christmas lights etc.

After years of scrimping and struggling I imagined my perfect Christmas and added to a spreadsheet;

Christmas Tree - choosing and collecting.
Presents for everyone (the list has shrunk since people have passed away though!)
Stocking for DS
Selection boxes for us all
Breakfast out Christmas Eve
Fun meal out after Boxing Day
New Decoration x 1
Light show (usually National Trust)
Hot chocolates & cake @ late night shopping / city centre trip (we love the atmosphere!)
Annual brunch meet up with friends
Fuel and cheesy chips to nearby seaside light show
The food shop
and £20 for cheeky M&S foodie treats
New boardgame

and then I divide it by 12 and save that
per month.

We also save our Nectar points for the big Christmas shop which usually takes off around £70

The most important thing I do each Boxing Day is take notes of what worked and what failed. One year I noticed we had a lot of food waste which meant the next year we were more sensible.

Last years was that everyone had Covid and this year we want to visit more family on Christmas Eve and Boxing Day.

Christmas gift wise: I struggle knowing what to get but keep notes and ideas all year round so by September I have some good ideas.

I get overwhelmed easily and making lists my life! 😂

I do both.

Others have said how to budget so I wont repeat. I set a modest budget per person that I can comfortably afford, divide by 12 and keep it in a seperate savings pot in my bank.

The biggest reason, is that you can save an absolute fortune (or get nicer gifts than budget would have allowed) by shopping as you see good deals throughout the year.

It is definitely worth joining us on the Christmas Bargain Prequel Thread if you have a chance. We post about really good offers, but many do sell out fast so worth checking regularly. I've had so many amazing deals that were on my list for a fraction of the price..

Also I use the app/website Trello for keeping tabs on birthday and Christmas spends, and use it as a place to put ideas for birthday cakes, days out, christmas food menu etc and you can add photos too. It's a great app.

@psuedocream3 is the Trello one this one?

For over 30 years I’ve saved every month. Starting November. When I began I saved £20 a month, then £40, building up to the £150 per month I save now, £20 of the £150 is my mums so I give her £240 + some interest every year. The amount of people who say they wish they could do it amazes me. Just do it.

We are just coming out of very skint times thanks to a promotion so it’s my first month of budgeting with “spare money”

I went through our accounts with a fine tooth comb, every bill/subscription.

We had about £800 left over. I gave me and my husband £125 spending money each, £80 for haircuts, £80 for days out (soft play etc) and the rest, about £400, in general savings which will be used for car/home repairs, Christmas and birthdays.

ive been very organised and we back with starling who let you have separate pots with virtual cards, so set up automatic transfer for food shopping, fuel/train/parking, kids activities, savings, spending to help keep on track. I made sure to leave 10% buffer in our general account in case a bill goes up. Hope that helps

Yes that's the one, the website is https://trello.com as well as their app, so you can access your account on laptop or mobile, anywhere which is handy.

We set a budget for each person and stick to it, look for bargains etc. kids get a higher budget. One year the adults didn't buy for each other to give a bit of let up.

Haven’t read the thread so not sure if I’m suggesting something already suggested.

• I buy throughout the year to spread costs
• Utilise sales
• If children are young Charity shops are a fantastic way to buy good gifts cheap. Works for older too but I found it so much easier when the DDs were little.
• Free gifting sites
• Best MN tip! Cash gifts, put money in cards throughout the year and seal them. I’ve got all my DNs & DNs Christmas and birthday cards already done (Nov & Dec birthdays)
• Lists - I currently have a list for each DD, what I’ve bought, what they want and any ideas. Each itemised item has what the cost is next to it so I know what I’ve spent and what I have to aim for. Bonus if I get things on the list cheaper. The lists has stopped me from forgetting gifts I bought early and getting too much throughout the year.
• Very important- Lock in lists early. I’ve always told mine if we get lists in early it means Santa has a better chance to get what you want. Also only 4 items on the list. They get more but in case something they really want is expensive I don’t want to have the pressure of buy too many expensive gifts at the same time I’ve always tried to make sure they get their most wanted gifts ( compensating for my lack of childhood)
• If you have friends and family who buy gifts then utilise them. I’m a cynic (or just don’t trust people). I never give DGPs or family the top 4 wants to buy but will ask them to get other items I would like to get myself if they ask me for ideas.
• Equal quantity over costs. If I did equal costs then there would have been years most wanted gifts would never have been bought and I’d have been forced to buy things for the sake of it. One year one DDs main wanted gift cost £8 from a charity shop. Over the years it evens out.
• Aim to be finished early. This will allow you to do last-min emergency shopping in case you have forgotten something without stressing about finding money. It will also mean if you have a few extra £ you can buy yourself a treat once you’re done.

OP for money you want to spent at/near Christmas, rather than throughout the year, you could set up a regular savings account.

No good for this year, but if you start it in October/November this year, ie fairly soon, then in a year's time you'll have a pot of money earmarked as Christmas savings for next year.

The interest rate is usually slightly better than instant access and in most of them you can vary the amount you put in each month, or set up a regular standing order - have a look on Moneysupermarket/Moneysaving Expert for what's available and the rules of each account.

The other thing I do, which won't work for everyone, is that for Christmas treat food and things like cheese that you like to have in, but isn't essential for Christmas/Boxing Day is to buy very little before Christmas and then between Christmas and New Year (or even late on Christmas Eve if I have time) is I look to see what's reduced when I'm in the shops and buy things then, usually at half price, often at 75% or even 90% off. Also the same for wrapping paper, cards etc and even jars of mincemeat - I've never bought these at full price. They've always been bought reduced after Christmas and saved for next year.

I put away £200 a month (standing order to savings account) - seems like an astronomical amount (compared to income) but it's a "winter budget" rather than a Xmas budget. We have Xmas, then DH's birthday, then dc birthday, then my car tax/insurance/mot is due. Also I like to put on the heating without worrying too much about the bill. Dc is still quite little and full of beans and I allow a budget for quite a few days out over the winter/ Xmas break because they really struggle with staying in the house all day.

I plan about £25-30 for niece/nephew gifts (9 of them), similar for siblings/in-laws (8 of them), a bit more for my parents and DH.

We used to always get an organic, hand-reared on paradise island then flown to the local butchers by singing choirs of angels turkey but this year will go for M&S.

Just in case people ask me what I want for Christmas, I keep a list on my phone of nice stuff I spotted. By Christmas, I usually realise I don't want it that much and ask for wine or nice food instead. You can freeze cheese.

Cheese also lasts for ages after the use by date. A lot of the special Christmas cheese will have use by dates of late December or early January, but it will be fine long after that, especially if it's waxed.

We still have one truckle now and I wouldn't expect it to have gone off. The last one was used around Easter time and it was fine.

I also keep an eye on the Christmas bargains thread
The people doing good work over there post so many deals that most of it doesn't apply to me, but I've had so many great discounts from it I always check in every couple of days (just lurking).