How to stop overspending this Christmas - Lower My Charges

How to stop overspending this Christmas

1024 683 Peter Deane
Overspending this Christmas

Christmas is an exciting time with so many people to see, having family and friends over, and seeing your loved ones open the gifts you’ve picked out. However, it’s not all jolly laughing and smiles for everyone, as so many people can end up putting themselves into debt trying to create the ‘perfect’ Christmas Day.

The average family in the UK has been reported by the Bank of England to spend an extra £800 in December. That’s not only on presents but also all the extra treats that we end up buying for ourselves.

We are not suggesting anyone stop the festive fun, but we have put together some tips on how to deck the halls and alternative ideas, to make the season’s greetings go a little further.

All the extras

Maybe this Christmas you could consider reining back the amount of alcohol, food and all those extras that you don’t really need. If you don’t think you can do without all the alcohol and food you normally have to try shopping for cheaper alternatives, as the most expensive isn’t always the best.

Cut the gift list

Presents are most likely your highest expense at Christmas, especially with the latest toy or trend seeming to be that little bit more expensive than the last. While it’s easy to say cut on the number of gifts you buy, we also know it’s easier said than done. Ensure you are only buying gifts for a core set of people, and for others such as colleagues, occasional friends and others, suggest that you don’t do presents this year, or a secret Santa with a spending limit. If you aren’t seeing others till after Christmas – see what the sales may bring – there may even be something at a much better price tag to suit your budget.

Research pays off

Another way to keep the present costs down is to shop around, make sure you get the best deal. The last 2 weeks before Christmas lots of stores will start to lower their price again, so if you missed out on Black Friday keep your eyes peeled! But make sure you don’t miss the last order to get that all-important Christmas delivery.

Get Creative

If you are more creative, a great way to save some money this festive period is to get crafty and make some gifts and stocking fillers. It may be more time consuming but the end result can be a lot more personal then a shop brought present and mean a lot more!

The main advice for this Christmas period is don’t put yourself in unnecessary debt just for one day a year! Spend wisely and you will reap the rewards.

Merry Christmas and a Happy New Year from everyone at LowerMyCharges,


Here at LowerMyCharges, we are experienced financial services professionals. We can help you with budgeting and spending as well as investing, pensions and more. Because we believe that financial advice should be for everybody, we have made it affordable, accessible and convenient. Get in touch via our website or call us on 0800 1404542.

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