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

We save with Park for the kids presents. We don't buy for each other and we stick to a budget with everyone else.

We don't have credit cards or overdrafts. We spend what we can afford and nothing else. We also save our clubcard vouchers and got a fair bit using clubcard boost this year.

The pressure at Christmas is immense. We're lucky now, but the first year we had children I'd lost my job and we put it all on credit card. Never again. All that debt and I can't even tell you what I bought for everyone. I bet they couldn't either.

It's one day.

It's very boring but I put a little away each month and look out for presents all year at car boot sales and charity shops.

We have a direct debit with Walsave which is local to us and it goes into a christmas locked account and is opened the end of october you can start with any ammount and it really helps us as we have a big family and its so easy to get into debt which we did years ago and swore we wouldnt again.

I save a bit of money every month usually £50 then I can spend £600 at Xmas

I avoid it by sticking to a budget and saving a bit each month in preparation for Christmas

I buy all sorts throughout the year from charity shops, such as CDs, DVDs, toiletries, glasses, ornaments, and even new clothes. I buy wicker baskets in bulk from ebay and make up hampers fro the toiletries, candles etc, and give these as Xmas presents.

We never spend beyond our means, but we do save all year round. We transfer money into an ISA each month and we have a nice amount come December. Just as well, because the Children are getting older and the presents are getting smaller and more expensive!

I let my nephews choose their presents from charity shops or use topcashback to get the most of buying presents.
That and using experiences and making presents to teach them the value of giving and having fun!

I shop in sales throughout the year , even down to things like the cards and wrapping paper! Then it's not a big dent at xmas time and more evenly spread

I buy presents throughout the year and have very little to buy in December.

I work out how much I can afford in total before the Christmas spending starts. Then keep a running total (in my head). Seems to work out ok.

I start as soon as Christmas is over and buy lots presents in the sales ready for the next Christmas & I put a small away each month for the festive food shop.

I always buy things in the sales and never ever go over a set budget.

I don't borrow money I only give what I can afford and put in the overtime before Christmas for some extra pennies.

Shop through out the year.
Keep a spreadsheet to track spending and make sure that I don't buy too much for each person.
Only buy what I can afford.
Agree spending limits with family.

Stay in and have a sober January!!

I do not spend any more than I have

I watch how much I drink.

Seems bonkers that people still need to be told year after year- Christmas doesn't have to be about greed and debt! Instil that attitude into your family from a young age and they should be able to appreciate the stuff that really matters.

Actually, that's nonsense- all children are materialistic little creatures and teens are far worse!

Guess my top tip would be to be honest about what you can actually afford

Don't spend what you don't have. If some people don't get presents, oh well.

I start saving in January and buying the odd present.When it comes to november i start buying in earnest,but only what i can afford.

I try and save a little bit of money each month throughout the year and buy things a bit at a time, as I see them, especially when they're on offer.

I often have a big clear out in the Summer time, I sell unwanted items in my house hold and pop it in a jar for Christmas, I save all of my tesco clubcard points this is a HUGE Bonus at Christmas time as I boost my points and almost double the amount the points are worth :)
Try using a cash back site this can be a huge saving and do plenty research online when buying gifts you will be surprised at the price differences online
Don't over do it at Christmas time it is only a day and it is the thought that counts!
Merry Christmas everyone

A bit late for this year, but for those heading into that nightmare planning and starting shopping very early in the year is essential, set a limit and stick to it. Children don't need piles and piles of presents and it's not a competition with their friends. A few well chosen gifts and lots of fun on the day are way more important ;)