Plan Your Complete Christmas Budget Today

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As we move towards the festive season and all the costs that entails, why not consider how you budget for Christmas?  It’s easy to get caught up on spending in the run up to the big day. Easy to get into the spirit and excitement and start spending too much on presents and ignoring your budget.

I think this year, even more than usual, people are going to want Christmas to be even more special.  But remember this doesn’t mean you have to spend more.

In 2019, some research by estimated that the average UK shopper’s spend on Christmas gifts had increased by 84% to over £700. You may think that figure is much more than you spend but have you taken into account all your expenses: Christmas cards, presents, fancy clothes, postage, food, drink, decorations etc?

This year has been difficult for many financially. Don’t add to your financial stress.

Put some of the tips in place today to help you to keep your budget under control.  If you can’t manage to do them all this year, maybe do some straight away and keep some actions for future years.  At least that will mean you are better prepared.

Hi, I’m Anna Goodwin – Author of five books, Director, Mentor and Trainer for Anna Goodwin Accountancy.

Basically, I take the stress out of finances – both business and personal. From running my own business and helping others to run theirs, I know how important it is to keep an eye on costs over the festive season.

You may feel that you want to spend more this year to compensate for things we have had to do without in 2020. However, think about what you have missed most. I doubt they are material things. You are more likely to have missed spending time with loved ones than not being able to buy the latest dress or mobile phone.

Decide on your budget and stick to it. Then you may have a bit extra in 2021 to spend on the things you’ve missed when you can do them again!

Tips To Control Your Expenditure Personally

  • Plan ahead before buying presents e.g. make a list of gifts before you go shopping or start searching online.
  • Consider the 4-gift rule for children (and adults, for that matter!): something you want, something you need, something to wear and something to read.
  • Prepare a budget for all your festive costs.
  • Save money by making gifts and cards. You could have a craft day with the children to make cards and edible gifts.
  • Use price comparison websites so that you know you are getting the best deal online.
  • Research any free activities or events you can attend e.g. Christmas lights switch on, festive walks.

Tips To Control Your Expenditure In Business

  • Keep any staff gifts below £50 per head inclusive of VAT so that they are tax deductible.
  • Send online Christmas cards instead of physical cards and thereby save on the costs of the cards and postage.


Of course, you could also contact a personal finance mentor to help you plan your expenses throughout the year. Or why not download my FREE Personal Finance Pack containing a Personal Finance Checklist and a Budget Spreadsheet.

As you go about your daily tasks both at home and at work, think about any expenditure you can cut back on.  Prepare a Christmas budget and stick to it! Good luck!

Next week will be about managing your time over Christmas.