Money, Spending and Christmas

There’s nothing worse than getting ready for Christmas and some “expert” butting in and giving you advice on money.

As you get ready to unwind at the end of a long year and put money problems on hold until January, the last thing you want to listen to in November is someone telling you to be careful, watch what you spend and have an affordable Christmas.

Bah! Humbug to that!

I want you to have the best Christmas you ever had. I want you to wake up on Christmas morning feeling a warm fuzzy glow with nothing to worry about, all your family around you, everyone in great mood and lots of presents under the tree. I want you to have a marvellous feast and drop off into a snooze after dinner.

I want you, this year, to finally have that truly peaceful, happy Christmas you have always dreamed of.

How was this year?

How much of what you wanted this year did you not get because you have spent money you did not have and have to pay it back? What will you not get next year because of debt?

When did it start happening that we had to choose between a Merry Christmas OR a Happy New Year?

I told you I wished you the best Christmas you could imagine. Hand on my heart, I honestly do. I am sickened that the money problems in our society demand our attention at a time when all we really want is to have some fun, relax a little and give gifts selflessly to express to people how much we love them.

Christmas is a time when we buy that X Box just to see a child’s face light up whether or not we have the money. Emotion wins over logic and it should.

But the best Christmas, take it from one who knows, is one that is paid for in cash, one that does not suck the breath from your New Year and a new chance to begin to live the life you really want.

Just in case you are interested in making a head start on turning your finances around next year, here are my Top Tips for minimising the financial impact of this Christmas.

Five Tips for Minimising the Financial Impact of Christmas

1. Write a letter to Santa

“Dear Santa, I’m writing to tell you what I want for Christmas. I’ve been very good all year and I deserve ….”

Now describe your perfect Christmas holiday, who is there, what are you doing, what did you have for dinner, what presents did you get, what did you give. How much did it cost you, how you feel in January having had the perfect Christmas and still having money left over?

2. Making a list and check it twice

I am sure you have often heard that if you go to the supermarket with a prepared list you will buy less, spend less and get more of what you really wanted than if don’t prepare a list. It’s the same for Christmas. Write a list and stick to it. Of course this is only useful if you also……….

3. Stay within your budget

First you have to know what your budget is!

Christmas is only one day. The holiday period is 10 days to 2 weeks. But I recommend that your Christmas budget covers 1st November to 31st January, a full three-month period.

Write it out, how much you have coming in, how much your normal household bills are, the bills that will be due in January and THEN, what you plan to spend for Christmas divided into presents, food, entertaining/socialising etc. Then commit to stick to it, forget about it and have fun.

4. All things bright and beautiful

“Advertising may be described as the science of arresting the human intelligence long enough to get money from it.”
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Get between you and the advertising. Make your own plans for your money first. When you have a plan, it’s like there is a bubble of protection between you and outside pressure, especially between you and advertising.

It’s like someone turns the sound down and you can hear your own voice of common sense above the Christmas Bells, above the advertising jingles and above the clamour of your own emotions.

5. Give yourself the gift of a course in managing your finances.

At the risk of appearing to join those that want to separate you from your hard-earned cash, I strongly encourage you to begin planning for your next Christmas now.

Right now if you are deep in a difficult financial situation without a plan, commit to making this the last year you feel overwhelmed by external pressures on your finances. Buy yourself something, a book, a programme, a financial coaching course, buy anything, but do something now.

Merry Christmas AND a Happy New Year.