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

Simple tip - don't feel compelled to spend what you haven't got.

This year I was on a very tight budget so every pay day since September I've bought some presents which means that now for my final pay packet of the year I don't have much more to get and I'm not going to go overdrawn getting presents. It's worked pretty well.

I save two-pound coins in a piggy bank, over a year it usually comes to about £200. We also save up our Tesco club card vouchers.
I start buying in August, some relatives are hard to buy for so I like to buy things as I see them rather than try and get everything in December. It spreads the cost but also spreads the stress of shopping!

I check the Mumsnet bargain threads plus sign up to email alerts from my favourite retailers.
During the year nearly all my purchases are on a credit card that is issued by a department store. I completely clear the balance every month so never pay interest but it means I get gift vouchers from the store every quarter. All online purchases are done via Quidco if possible.

It's simple - and applies not only to Christmas: don't spend more than you can comfortably afford.

Buy well in advance, keep a spreadsheet, use the bargain threads. Pay for food as early as possible, spread all the costs, don't use a cc. Budget and stick to it.

No twitching!

Use budgeting software - You Need A Budget (YNAB). Essentially it's envelope budgeting. I put away £100 a month for Christmas from January. By October - I can start present shopping, and it covers the tree, the family outings, all the extra groceries, extra fuel. Everything is covered. I couldn't just find £1200 in December. And we start again in January.

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I start ebaying stuff in about September be let the proceeds sit in my PayPal account building up. We have a good clear out before they go back to school at the end of the summer holidays. Makes way for new 'stuff' then as well

Save it before spending it.

I'm naturally, ahem, frugal though. It comes naturally to me to live within a budget. Reuse, shop at Aldi, ramp down expectations, make your own decorations (we like craft anyway), cut out buying useless tat, focus on time with friends and cheap or free activities. etc.

What a bloody stupid question. Don't spend what you don't have.

Like others have said, I buy early in the year during the various sales. Although my DDs don't have a budget in particular, they just get a lot of small things, such as craft related items which doesn't add too much to the clutter. With family members they are given a budget of about £15 each and again I tend to buy early in sales- this years mumsnet Christmas discount thread was fantastic particularly near the beginning.

Buy wrapping and cards in the sales in January
Buy one Xmas food item with the weekly shop from sept onwards - crackers, Pringles, prosecco etc
Best tip ever - take 100 cash (real money) and stick it in your piggy bank for January when your cards and bank balance need a rest

I have a big stash of cards and gift wrap bought in sales over the years - I haven't had to buy any more in the two years (except sometimes I get personalised cards for close relatives). I bought my first gifts in the Boxing Day sales last year, and keep an eye out for good deals throughout the year. We don't spend much on food and travel as we go to one of our parents for Christmas dinner (we bring some food and wine but don't spend as much as if we were doing it on our own), and both sets of parents live in the same city.

I do put a lot of my spending on a credit card but only to build my credit for a mortgage - it's all cleared in full by January (and I have enough in my current account to cover it at any time, so I don't consider myself to be in debt). Problem with 'not spending what you haven't got' is that if you never use credit then you don't have much of a credit record.

Agree with imin ........... and why is a major Bank asking such a stupid question - if they don't know the answer I wouldn't want to be investing my money with them .

It's really not hard, stick to your budget and don't get sucked into the commercial side of Christmas.

As PPs have said, only spend what you can afford. That's it really.

We stopped exchanging presents with adult family members ages ago. The DC do something handmade for their grandparents instead (rock monsters this year).

I start shopping for the DC in the summer /autumn and pick up lots of bargains this way. Make the most of Tesco club card offers, Argos 3-for -2 etc. Then in December I can relax and enjoy festive activities without having to face the shopping crowds.

Oh and don't go into debt or spend more than you can afford. Obvs.

Plan ahead buy things like wrapping paper and cards in the January sales and stash them away. Price compare everything it really is worth shopping around. Only buy for children if a large family. Don't get guilted into spending more than you can afford, it's the thought that counts!

I take out a weekly budget in cash to cover all food and in person shopping. Helps me avoid frittering money away on daft impulse buys. We also have a set amount to spend on everyone. I don't go over it, and try to come under!

I spend very little on presents and have cut out all but a few Christmas cards. I make a conscious effort to cut back in October and November by challenging myself to have NSDs to enable me to go away over Christmas.

I buy gifts throughout the year if on offer. I use price comparison websites, also look for online discount codes and free delivery. I look for BOGOF 3 for 2 etc. Pick up discounted Christmas cards wrapping paper etc just after Christmas in the supermarkets. Most important I try and stick to a budget and it's fun picking up a bargain.

We manage expectations - Santa inly bring the stockiing in our house and it is smaller things like stationary and dvds. Presents are bought by family and friends and any Christnas lists the kids make are shared with them so that things are bought collectively. Means preople who actually buy the gift get the credit and kids don't care that they are not all from us.

Knowing where last year's items are saves rebuying decorations, cards and wrapping paper. Deciding how much to spend on people before going shopping.

I have a rule: never spend in December, never start January in debt.
I don't go crazy at Christmas. I save in a high interest regular account every month so any present shopping I do is done out of savings. This keeps my spending in check, when you saved for 9 months, you don't exactly feel like blowing it all.
I think of December as a month in which all my energy is spent seeing people, spending time with family and friends, having the time to make mince pies and drinking prosecco, as you do.
I'm also too poor to buy cheap stuff. So rather than lots of little bits of stuff, I'll buy one item that's quite expensive and a bit of an indulgence, really. I put a lot of thought into choosing a present.

My main motivation is January sales. All the stuff that's needed for the house is saved for and bought in January. That's why the entire December paycheck is saved :)

In all fairness, one of my biggest tips is not having a credit card!

I buy a few essentials like wrapping paper etc in the January sales. I don't buy presents that early, simply because people (particularly children), have different likes/interests the following year.

As for putting away for the following Christmas, I just have a £1 jar that I pop the odd bit of change in every now and then. This really is fantastic because in November I open it and discovered this year that is managed to pot £270!

I won't fib and say I don't go overboard with treats and food for Christmas, though

Having a budget and sticking to it is the most important thing

I have been slightly at some of the the comments on other threads that a gift for £15 is a token present. We set a max budget of £20 per adult and often spend less and get gifts that are appreciated

I pick up cards, wrapping paper etc in the sales, pick up gifts throughout the year shop in charity shops for inexpensive bits and bobs.

Also my kids know that we do not have a large budget and have told them flat out that we will not be buying an Xbox (Santa brings a small stocking with quirky gifts, presents come from people)

We will also make sweets and biscuits for the kids to give as gifts rather than add extra expense