How to save money this Christmas 2020
It has been an incredibly tough year so far. The global Covid-19 pandemic has had a devastating across the world. As well as the disease causing devastating illness and fatality, we’ve also had to deal with the financial impact. In the UK, millions of people have been hit in the pocket through business closures and redundancies. Even those that have been fortunate enough to be furloughed have still, in many cases, had to work with only 80% of their usual income. The furlough scheme has been a lifesaver for so many people, but even losing just 20% of a regular income has a huge impact on a family’s finances.
This is all very worrying for families across the country, and across the world as a whole, and many have been having to tighten their belts and be savvy in how they spend their money in order to get through. Unfortunately, it seems as though we’ve got a tough few months and years ahead of us still, so it’s going to be more important than ever to be careful with how we spend our money.
Christmas is notoriously one of the most expensive times of the year for many families, particularly those with large families. But with funds tight, families will need to be really careful about how they spend their money this year. With that in mind, I’ve come up with some tips on how to save money this Christmas 2020.
How to save money this Christmas 2020
It is so tempting to spend lots of money on people at Christmas. There’s no nicer feeling than giving somebody a really special gift. But in actual fact, we don’t need to spend a whole heap of money in order to make somebody feel special. With a little thought, we can achieve that for a fraction of the cost of the usual gifts and gadgets we buy every year.
Make your own gifts
OK, so this might send a wave of panic through you if you’re not the most creative of people. But you don’t actually need to be all that creative and crafty these days! The internet is a great place to find inspiration for personalised/homemade gifts that don’t cost much money but make the recipient feel really special. Using a mock up, you can create all manner of one off, unique gifts that show you’ve put a whole load of thought into the perfect gift.
You can create all kinds of things, from personalised cushions, to clothing and even candle holders, so it’s easy to create the perfect gift from scratch.
Make your own decorations
Hopefully, you’ve stashed away your Christmas decorations in a big box so you can just bring them out again year after year. But, if you’re anything like me then you’ll still be tempted by all of the beautiful decorations that line the shelves in all the shops each year.
In order to save some money and still get some new decorations this year, it’s easy enough to make your own, for a fraction of the price of buying new. It’s also a really lovely way to spend some quality time with the kids – they will love helping to make decorations and see them hung proudly on the tree each year.
Have an agreement with family and friends
Pretty much everyone is going to be trying to cut back this Christmas, so don’t be ashamed to suggest that you cut back a little. You could suggest doing a Secret Santa this year and set a spending limit instead of buying presents for everybody. Secret Santas are a great way of still treating each other whilst also not spending a fortune on individual presents for all of your family or friends. The idea is that you put everybody’s names into a draw, then each person picks out a name. The names are kept secret and you just buy one present for the person you’ve picked. It’s great for doing amongst the adults in the family, amongst friends or even at your workplace. Just make sure you set a spending limit that suits everyone’s budgets. Doing your gifting this way also means that you have more time to find the perfect present as you’re only looking for one person. You could choose something really special such as a well-thought-out gift basket – go now to some suggestions for manly gift baskets that would be perfect for the man who has everything.
Get your bake on
Is there anything nicer than the smell of baked goods at Christmas? I’m not the world’s best baker by any stretch of the imagination, but even I love to get baking at Christmas with the kids.
You can even create baked treats as gifts for your loved ones too. Making your own from scratch is always a great way to save money and it’s also a lovely way to spend quality time together too.
If you’re hoping to save some cash this Christmas, then planning ahead and being savvy with your spending is the only way to do it. Figure out where you’re happy to cut back and you will still be able to make this Christmas special.
*This is a collaborative post.
