It may be time to start budgeting for Christmas

Parents may be wishing they could delay thinking about the C-word, but there are already toy ads on the radio and decorations have hit the shelves, writes Grainne McGuinness. 

Despite it feeling like the kids went back to school only yesterday, Christmas is a mere 74 days away. And the best way to avoid a stressful festive period worrying about bills is to start planning early. Spread the costs between now and the end of December to avoid a worry-filled New Year.

The first thing to do is draw up a budget — you need to work out what you need to get, how much money you have and then bridge any gap between the two. Don’t just focus on presents and food, add in the cost of extra socialising, travel, decorations and cards. You can download a Christmas budget planner and fact sheet from mabs.ie, to help give you a full picture of your finances. Once you have a clear idea what you will spend work out how you will cover the cost.

If you have it saved already, well done. If not, work out how much you can put aside from each paycheque between now and the end of December. If you still haven’t reached your budget, try to trim your spending where possible.

Empty your freezer — and then fill it again. Between now and the big day supermarkets will be running weekly special offers, take advantage of them to get your festive food for less. You need to have room to store it all though so make it your mission to use up as the food in your freezer and cupboards. It’s a win-win, any money saved on your weekly grocery shop can go toward Christmas. Keep an eye on the retailers’ weekly specials so you know when something you need is on offer.

Now is the time to cash in any vouchers/gift cards you have lingering and use any available credit on loyalty cards. Check your balance and hang on to any vouchers you are sent by the retailers; just remember it’s only a bargain if you wanted to buy it anyway.

Homemade gifts are great in theory, but if you find yourself considering them in December you are likely to dismiss the idea as too much effort when you are already up the walls. But if you start now, you can set aside a few evenings or weekend days and enjoy the process rather than see it as a chore. Check Pinterest and Instagram for a host of ideas. If you have children, set them the task of making decorations, wrap and cards. It’s also an inexpensive rainy day activity and will make them feel an important part of the festivities.

If you can’t cut your budget can you increase your income? This option won’t suit everyone, particularly if working full-time. But plenty of shops take on seasonal staff, even a couple of shifts a week would significantly boost your spending power.

Research your big gifts before purchasing, and be ready to take advantage of special offers on days such as Black Friday(November 25) and Cyber Monday (November 28). Don’t forget about Groupon and other discount sites; once voucher expiry dates are into the New Year, they can be a great source of gifts.

Have an honest chat with family and friends now about presents. You won’t be the only one feeling the pressure to get presents for all and sundry. Secret Santa is getting more popular each year, even among families, as it means each person gets one good present rather than lots of small ones. Another idea is to agree that presents will be bought for young children but not the adults.

There are probably a few relatives who prefer a card in the post but if you interact with friends and family online all year, why change at Christmas? Try care2.com for a wide range of card types or someecards.com if you prefer sardonic humour.

If you know you’re not going to be able to avoid running up a credit card bill then consider switching now to take the pressure of you to repay. Tesco, Ulster Bank, Permanent TSB and Bank of Ireland all offer between 0% interest on purchases for between three and eight months, which will give you some breathing space afterwards to clear your balance.

DEAL OF THE WEEK

Smyths Toys has released its legendary catalogue, to the delight of list-making children up and down the country. The toy retailer is also trying to keep parents happy, with special offers on Fisher Price and Lego toys for families keen to make a start on the shopping. It is offering 20% off Lego; its Lego City Airport Air Show down from €84.99 to €67.99 is just one of the offers. Or for an advent countdown with a difference, the Lego City Advent Calendar is down to €17.99.

Smyths is offering up to 25% off its Fisher Price range, with toys and equipment suitable for newborns on offer as well as gifts for older children. The Fisher-Price Rainforest Friends Infant-to-Toddler Rocker would make a great present for a house with a new baby and is reduced from €52.49 to €69.99.

You can order items for collection at your nearest shop and it also offers free shipping to all orders over €49 (excluding large bulky items). See www.smythstoys.com/ie.