This has to be one of the most tempting times of the year. It’s like a diet you stay on for 95% of the duration, only to fall at the final hurdle and let yourself down during those last few days that could have made a real difference.
Yes, Christmas is almost upon us once again and that means we have the temptation of spending too much money. Even the most hardened and dedicated savers will be tempted to consider blowing some of their cash on gifts and treats for the festive season.
So this begs the question – should you let go and have a good time over Christmas? Or should you keep on saving as you have been doing throughout the rest of the year?
Spend, spend, spend
It’s good to have a good time over the festive season, and that includes treating the people you love. It also includes buying festive food and drink, and we all know how those bills can add up.
There is still time to spread the cost of Christmas though, so bear this in mind. Try and refrain from using your credit card to spend continually throughout the remaining weeks until the big day, as this is the best way to rack up more outgoings than you might be happy with.
You should make sure you have a good time though. You can probably do just that and still spend a lot less than you would have done in the past. And if you forget or decide not to save any money during December, you can still restart in January.
Save, save, save
The good side of you may want to continue saving throughout December and manage to get through Christmas on a budget. If you want to carry on like this you may want to look at reducing your outgoings in other areas.
Alternatively you can consider taking the DIY route to giving gifts to the people you love. Homemade gifts are making a big comeback thanks to the straitened times we find ourselves in. Homemade biscuits, cakes, jams and even chocolates are all possible with just a little know how. Are you good at anything you could give as gifts in this way? Another great idea is some homemade bread, which when made fresh before you pay a visit to a friend or relative would be very well received.
As you can see, it is possible to get through the festive season without blowing your savings. However life is to be lived, and if you feel you want to spend what you’d usually save during December on having a great time, go ahead. The most important thing is not to overspend and not to overdo it for the sake of it. This is what most of us are guilty of doing, and it’s not good to resort to old habits if you’ve spent most of the year getting rid of them.
In short, have a great Christmas but know your monetary limits.