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

organisation, stick to a budget and spread it out over as many months as possible

Never get into debt over Christmas. There are plenty of ways to have a great time without being hit with huge bills afterwards. Just takes planning. I always start buying presents in August. One present a week if i can. Sometimes i miss a week but not often. For bigger presents if your income is low just set aside a small amount each week and put into a xmas jar or savings account. Then you don't have to find a large amount nearer xmas. Park Hamper is a great way to keep on top of debt. Gifts, Food hampers etc. I often get high street vouchers from them. I think you pay about £10 per week and then near xmas you can have a book of £400 high street vouchers. You can choose a higher or lower amount and your weekly payments will vary. There are many ways like this to save yourself the horrible debt you can get into when trying to get everything done at once nearer the time.

You have to save every week all year round to make sure large outlays like this can be absorbed easily. I never borrowed money to pay for something like Christmas. If I couldn't afford it I didn't have it. On more than one occasion presents were homemade or hand written cards offering to babysit/iron/dog walk etc. Unusual presents but very well received. I'm now very comfortably off. Good habits stay with you and if you look after the pennies the pounds will take care of themselves.

Start saving the 1st of january throughout the year so you can have a stress free Christmas. Simple :) x

buy using 0% interest cards

I buy things throughout the year, use cashback sites when buying online and use my Christmas bonus to pay off any purchases on the credit card

we put money away through the year, we stick to budget and make sure that nothing is put on a credit card, so no xmas debts. we start to buy for the following year in the boxing day sales to help money go further.

Just don't go overboard with spending - remember its more important to spend time with people at Xmas, rather than expensive presents

I buy some stuff in the January sales, e.g. posh crackers for the table, table ware, etc. Then I start buying presents in September. We tend to give the grandchildren money so we know in advance how much that is going to be. We do tend to overspend a bit, but we know we're going to do it, so January isn't ever too tight to be uncomfortable.

I always shop early and put aside the gifts for special occasians like Christmas. I also take part in competitions and surveys, whereby anything I win or get, whether it's vouchers or products that can be used as gifts, come in very handy.

We start buying presents in October and spread the load over 3 months pay. We also use our credit card for the majority or payments/purchases during the year and pay off the full balance at the end of each month as we get cashback. This gets paid to us in December and usually covers the cost of the Christmas food shop. We then start the new year in a good financial position.

I start early to spread the cost and also look out for bargains. I buy Christmas cards in January and then store them with the decorations until December. I also try to stick to a budget so that when January comes there is still some money left in the bank.

Start shopping July, shop in the sales and discounted retailers like TK Maxx, Home Bargains, B&M bargains, Argos two for £15 etc.

Food wise, Aldi and Lidl are fantastic for party food and 'treat' type food, as well as local butchers for meat, often cheaper than a supermarket.

Small presents at christmas only, any "bigger" presents are for birthdays. I also dont buy for cousins twice removed etc that I might see once a year I have cut my present buying down to only my children and parents, If anyone is offended so be it I'm afraid, I also tell them not to buy for my children. Christmas dinner is a roast just with a few extras and we don't go overboard with loads of food either it just goes to waste. If we are at family we all contribute something to the host whether it's booze or a desert etc to lighten the load. I put £20 a month aside and buy presents for my dds when I see things on offer, things I know they want/need and will enjoy. Make a list and stick to it. Spending time with loved ones is far more important than expensive gifts if your not in a financial position to do so then say it

Start early,refrain from buying tat that noone wants and then ending up spending more to buy something else to make it look better. food is always low maintenance here so doesn't cost a lot but we buy a non perishable item a week from September or so and then try to not eat it!

1. Never get overdrawn for Xmas
2. Whittle down your list. I have no adults on mine these days.
3. Buy bits and pieces throughout the year. If your child has gone off something by the time Xmas comes round, put them in the present box for future other children's parties etc.
4. Shop around for the best prices.

I start saving for Christmas from January, £50 a month into a designated account. Then look out for suitable gifts for people from the summer, to spread the cost as well as the pressure to find the right gifts for the right people.

We don't go overboard with gifts though, agree with family members in advance to limit spend amounts to reduce expectations.

We do just a small token gift for the adults so everyone can unwrap something and I buy gifts for the kids when I see them through the year to spread the cost out and also reduce the pressure of having to find something in December that might not be as good.

I have money saved through the year for Xmas

I carefully plan what I am going to buy. I don't buy things just for the sake of it. It can be tricky but I refuse to feel obliged to buy gifts for all and sundry, just my close family...It sounds like I'm being tight but having been in proper financial difficulties before I feel it's silly to get into debt and such for 1 day.

Always budget carefully and resist the temptation to "make an impression" if I can't afford it. Avoids the hangovers

We dont have credit card so we only can buy what we can afford. We always make gifts for friends and friend and then we stick to a certain amount for each of our children. We always buy each other a little gift i usually get coffee creams and i buy mint creams for my husband. It has worked for us so far

Save up tesco/nectar/boots/superdrug points so you can use them at christmas so it brings the cost down, plus check online as it may be cheaper to shop around online instead.

I have staff discount at the place I work so this can help me too.

Simply dont spend more than you can afford. Keep within your limits and dont go overboard with presents.

Keep an eye out for reductions and bargains through the year, that way it spreads the costs as well as making your shopping cheaper.

I shop from the Jan sales through the year in sales too, put it all aside and then only need to top up a few bits in December

I only spend what I can afford. :)