Christmas is expensive, but it doesn’t need to be. Try these tips to spend less and enjoy more.
Last year at the peak of Christmas shopping mania there were 10,805 transactions a minute in New Zealand, according to Worldline. This came at a time when millions of Kiwis were struggling with the cost of living - which makes you wonder - do we really need to spend so much every Christmas?
To help you save a little we’ve come up with eight tips to have a budget-friendly Christmas.
1. Try Secret Santa
Buying several presents can be stressful, time consuming and extremely expensive. So why not make life easier, start up a Secret Santa and only buy one present!
If you’re keen to do this the Elfster app and website can automate it all for you, for free and allow you to create anonymous wishlists.
2. Set limits
Whether you’re doing Secret Santa or a normal Christmas it’s a good idea to set dollar limits on gift amounts. You can adjust these depending on the financial means of the participants in your family.
Hot tip: the limit should always be set to suit the person with the least financial means so that they don’t feel left out.
3. Shop with cash not credit
Getting into debt can mean you are paying even more for Christmas than the sticker price, for example, paying interest on your credit card purchases. Wherever possible, try avoiding using credit cards, personal loans, buy now, pay later schemes or store cards to buy presents.
If this is your only option make sure you minimise your spending and make a plan to pay your debt off without incurring penalties and interest.
4. Shop sales and compare prices
If you’re already committed to buying certain gifts it’s always worth checking all retailers to see if you can find the same item on sale, and non-traditional places such as TradeMe or Facebook Marketplace to see if anyone has a good condition version you can get for a discount.
It’s also a good idea to compare prices before you buy anything, by either shopping around or using a price comparison tool like Pricespy.co.nz.
5. Get crafty with cards and wrapping
If you’re buying presents for several people, cards, labels and wrapping can easily add up.
Why not involve any children in your life to get drawing, or design and print them yourself in Canva (a free design website with thousands of free templates), or use a versatile gift wrap like butchers paper and twine to be able to use year-round.
6. Spend time, not money
Christmas and the holiday season is really about spending time with the people we love and feeling closer to them. So if money’s a little tight this year, why not give the gift of your time instead of an expensive gift?
For example, you could plan to do a chore for them such as a house clean, a picnic in a loved one’s favourite spot, or a day doing their favourite activity together.
7. Be creative
If you have a hobby, be it drawing, building stuff, baking or painting - why not use that and make your loved ones creative gifts?
Spending your time creating something rather than simply buying a gift shows that you care, and the end result is always more unique.
8. Be honest if you’re struggling
If money’s a bit tight and you’re struggling to afford Christmas this year, be honest with your family and ask for help if you need it. There’s no reason to feel ashamed - the fact is, thousands or even millions of Kiwis are facing similar struggles right now.
As soon as you’ve shared your struggles with your family you can all come up with a plan to cut Christmas costs and support each other and still have fun this holiday season.
Disclaimer:
This ‘How to treat yourself this Christmas’ blog is general information only. The views and opinions expressed do not necessarily reflect those of the FSC. It is not intended to constitute legal or financial advice and does not take your individual circumstances and financial situation into account. We encourage you to seek assistance from a trusted financial adviser, legal or other professional advice.
The names of any third parties are additional resources that you access at your own risk and the FSC takes no responsibility for any third party content.
The FSC and its employees make no express or implied representations or give any warranties regarding this blog, and we accept no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in this blog.
December 2024.
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