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.