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    Our 12 gifts for Christmas: How to keep costs down for the festive season

    By Mr Bankruptcy

    1st December 2023

    Christmas is usually an expensive time of year, but this holiday could be particularly difficult for some, coming as it does after yet another 12 months of uncertainty, with many people’s finances still precarious.

    To help relieve some of the worry of buying presents and stocking up on food and drink, but still find room to enjoy the best the season brings, here are a few of our suggestions to help you keep the costs down and control your finances this Christmas.

    Our 12 tips for a cost-cutting Christmas

    • Make a gift list: Know who you need to buy for and what you want to buy them. This helps make sure you only buy what you need, and there are no surprise expenses. If you make a list early enough, it also saves you from last-minute shopping (see below).
    • Hunt for discounts: Look for genuine discounts on the gifts on your list and take the opportunity to buy them while they are cheaper.This means you need to be organised!
    • Don’t leave shopping to the last minute: This will help you avoid panic buying and spending more than you want or missing out on discounts throughout the year. Give yourself time to shop around for the best prices. Many people keep a “Christmas cupboard” to spread the cost over the year.  
    • Don’t buy for everyone: Be thoughtful about who you should buy presents and cards for and reduce the number of friends and extended family who are on your list simply because you feel they should be.
    • Use discount codes: Discount codes can often be found online, on mailed vouchers or as part of a special offer. Even joining a mailing list can earn you a discount.
    • Get creative this Christmas: Christmas is a time of tradition and many of us keep our own personal favourites, but if you’ve had a financially difficult year, maybe this time you shouldn’t default to the norm, but look for different ways to celebrate Christmas that enable you to spend less.
    • Re-use old gift cards: If you have a gift card you’re never going to use for yourself, utilise it to buy a gift for someone else or just give the card to someone who would love to use it. It’s much better that the card is used than left to expire.
    • Buy some clingfilm: We often end up cooking too much for Christmas lunch. Avoid lots of costly food waste and save the leftovers for future meals.
    • Buy whole-family gifts: A gift for the whole family will reduce the number of gifts you need to buy.
    • Create a gift list: Agree with your family to come up with, say, half a dozen ideas each for small gifts, setting a price limit. This way you all get something you really want, avoiding wasted money and “present inflation”.
    • Organise a Secret Santa: Alternatively, organise your own Secret Santa among friends and family to spread the costs.
    • Avoid buying gifts on credit: A gift may end up costing you more than you planned if you haven’t taken account of the interest repayment costs; a few months down the line you may find yourself struggling to keep up with the payments.

    You may be worried about raising the subject of presents, cutting back on food and drink or celebrating Christmas in a different way to reduce costs, but it’s very likely that the friends and family you talk to will also be relieved and inspired by your suggestions on how to cut costs while still make Christmas special.

    There’s no need to be a Scrooge but Christmas can still be a special time while still avoiding a New Year’s financial hangover. All at James Rosa Associates wish our friends, clients and colleagues a very merry Christmas and a debt-free 2023.

    James Rosa Associates

    We are a firm of debt advisors and debt adjustors. You will be met with a supportive, friendly and non-judgemental approach as listen to your story and explore how we can help.

    We offer a full range of advice and professional services to individuals and business owners/directors who face unmanageable debt or who are involved in civil or commercial disputes. These include:

    • Insolvency support
    • Negotiated settlements
    • Personal assisted bankruptcy
    • Mediation

    We are authorised and regulated by the Financial Conduct Authority (FRN665061) to work with clients to produce bespoke solutions to fit their specific circumstances.

    Find out if you qualify for a free consultation

    If you want to deal with an unmanageable debt, or bring a dispute to a swift and cost-effective resolution, contact James Rosa Associates, ring 0845 6807217 or email enquiries@jamesrosa.co.uk to find out whether you qualify for a free consultation.

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