How do you avoid a post-Christmas financial hangover? Share your tips with Lloyds Bank and you could win a £300 Love2Shop voucher NOW CLOSED

[ZaneMumsnet]

We've been asked by Lloyds Bank to get Mumsnetters' tips and tricks for stretching every pound in the run-up to Christmas.

”Christmas is a joyous time of the year, however, many parents find it difficult to truly enjoy it. Somehow, your money (and time) is needed to cover presents, food, drink and travelling amongst many other expenditures. We would love to hear how you make sure Christmas doesn’t leave your bank balance a Santa shade of red.” – Lloyds Bank

So, what's your secret? Do you have a special knack to shopping that saves you pounds? Or are you more into the homespun approach, making your own gifts (and fun). Have you perfected the art of negotiating a lengthy list to Santa with a budget in mind? We’d love to hear your top tips.

Everyone who posts on this thread will be entered into a prize draw where one MNer will win a £300 Love2Shop voucher.

Thanks,

MNHQ

Put away money each month through the year, and only spend what we have.

Our naughty hamster escaped from her ball. Just as I noticed that the hatch was off the ball and that she had escaped, I saw her tearing across the floor under the dining table with half a chocolate digestive in her mouth that one of the kids must have dropped. RIP lovely Doris.

Oops wrong thread!

We only spend what we can afford. We look at our financial picture in about October and set a budget which we then move from savings into a sub account just for Christmas. I try to stick to it but it's difficult as we have 5 DC and lots of relatives that we buy for. I would never get into debt for Christmas and would hate to be saving each month for it - it's just 'stuff' at the end of the day and not really what Christmas is all about to me. I don't like shopping for Christmas and find it very stressful spending lots of money on piles of stuff for the DC when they already have so much, even though we can afford it. I would love to ditch all the adult presents. I never know what to buy and it feels like a waste of time and money but I don't feel like I can because people buy gifts for our DC. God, I sound like a right Ebenezer!

I start preparing early by keeping a list of what I need to buy then seeking out bargains/discount vouchers. I never spend more than I have

i shop all year round for bits and bobs, pick up things on offer and reduced, it really works out cheaper and you dont notice it on your pocket really cause your not spending alot all in one go.

I save 20 pence's all year round which usually gives us £60.00/£70.00 to help towards the food, I also save for the Xmas presents, if I see something during the year I will buy it and the take if off the total. I then have a budget of what we have saved and try very hard not to go over (we always do just a little but we can cope with that). If I didn't save I would have no chance

We set a budget early in the year and save the necessary amount each month. Then we just splash out on presents with what we've saved and not a penny more. We don't really overspend on food and drink. I watch in amazement at some people struggling to push 2 or 3 trolleys around the supermarket and wonder how much will be in the bin the following week. There are still only 7 days in a week and we still only need 3 meals per day, so I can't understand why some people buy double or triple what they would normally?

This usually works well, but DH has just been made redundant, so Christmas (as far as spending is concerned) is pretty much cancelled in our house :(

Christmas has become so ridiculously commercialised that we have lost the true meaning so I always keep this in mind. But nevertheless and it is still expensive, buy Christmas essentials early in January and February and have a money pot that you have to break in it and post any pound coins you get and then smash it in November ready for the season.

Buy a few items each week in the couple of months before Christmas. Saves on a massive bill

send your kids to boarding school and forget to pick them up
WAY cheaper!

Straight after Christmas, I put a certain amount away in a separate bank account, by standing order every week. All of the following year's birthday and Christmas presents come out of that account. It enables me to buy bargains throughout the year, as and when I see them. It means you can buy from any shop or supplier and aren't obliged to stick to one shop. Don't exchange tat for tat. If you have way too many people to buy for, have a gift list cull. Just buy the kids if need be. The 1st year you tell everyone you are cutting back is the hardest. From then on in, everyone knows the score and can buy accordingly. Don't compete with others. Spend what you can afford to spend. And remember, nobody to my knowledge ever died because on Christmas morning Santa hadn't brought a < insert the thing you asked for but never received>.

I save every voucher I can throughout the year. This year my two eldest boys presents should have cost £500 but I spent just over £210. Impressed with that!

A buy my presents throughout the year and save for big ticket items through out the year. We also going to be doing most of our Christmas food shopping at Lidl and we save loads with out normal food so why not, were also going to try not to fall victim of getting lots of extra treats and snacks in for it either

I try to always put a bit away each month to save up for Christmas to avoid the January blues.

I stock up on cards, gift wrap, crackers etc in the sales after Christmas. I can usually get rolls of gift wrap from Asda for 25p a roll.
I clean for my mother in law every Thursday and she saves the cash for me until I need it which means I can take advantage of the sales as they arise. I was able to get Design a Friend dolls and accessories in the Argos summer sale and saved myself loads of money.
For the last 2 years, we've had a strict rule about not using credit for Christmas after I got stuck in the rut of spending loads from a catalogue then suffering the high interest/repayments all year. The first year of not using credit was really hard as we had to cut right back but it's wonderful now to buy everything in advance and have no interest to pay the following year :)

I run a Christmas Savings club with a friend and we save as little or as much as we can afford every month. In twenty years, I'm proud to say I've never bought any Christmas presents using a credit card. In fact, there's usually money left over for a little treat for myself too!

Post Christmas, it's pretty much in tatters now

Set a budget in December for each persons present on what I know I can afford and then write what I've actually spent. Then I can plan what I can spend on other items like food and drink so I don't go over budget.

I don't over spend & treat early december pay as if it's received on the normal say, it's amazing how many colleagues spend it on cheistmas & then wonder why they are skint in January

Buy little and often, stick to a budget

Its just really tough if your income is low. Unionise and push for fair wages through your union and mp, then you have a better chance of saving. Protest austerity cuts while we bomb syria and renew trident.

Also dont spend more than you can afford and make xmas about being cosy together rather than about money

Budget and stick to it - this is the sure fire way to ensure that you do not end up in a pickle in January!
I start in Oct so spread my spending out from Sep, Oct & Nov pay-days.
Every person I buy for has a set allowance and gifts have to come in within this amount.

Make the most of retailers pre-xmas sales & discounts they offer - you can get some great deals and presents that are far more expensive than you could really afford.
I also save up my supermarket points all year round and use them towards the big Christmas shop.

Quite simply by setting a very strict budget and sticking to it. I write down what I need and set an amount for each section. No matter what extras you want you stick to your budget. Xx

Set budget, stick to it
start shopping early & pick up good deals/reductions
shop online, use cashback sites
Dont spend what you haven't got.