It’s that time of year again. The letters to Santa have been sent, the Christmas lists have been written, and the shops are getting busy.
So how can you shop for Christmas without sending yourself into the red? Here are our top tips:
Prioritise your gifting
We know it’s tempting to get into the festive spirit and give everyone you know a Christmas gift. But it might be better to rein it in and prioritise your gifting instead. You could consider giving a group gift to some people instead of individual ones. For example, bring in a box of chocolates for the office to share instead of buying each colleague an individual gift. Or if you have a close group of friends, why not suggest Secret Santa? That way you can focus your attention on one gift rather than multiple (and you save a few quid too!).
Write a list
Write a list of specifically who you are giving a present to and what you want to get them. Then set an appropriate budget for each person. It’s important to start shopping with a clear understanding of how much you have available to spend. You need to make sure you don’t get swept away in the festivities and leave yourself unable to pay your bills! It’s also important to make sure you don’t find yourself in debt after the festive season.
Do a little research
If you have a specific gift in mind for someone, shop around a little. You’ll probably find that the first price you find is not necessarily the best price. Little savings here and there add up and can help flesh out other areas of your budget.
Make homemade gifts
You don’t have to be an expert seamstress or a talented carpenter to make a homemade gift. Something simple like a custom photo album or some homemade sweet treats can make for a fantastic gift. By putting in the extra effort to take the time to make something, you can really show how much you care for your loved one.
Shop second hand
Remember that a present doesn’t have to be a brand-new item, straight from the manufacturer. Aside from the potential to save a little money, shopping second-hand is a much more environmentally friendly way to do your Christmas shopping. Try looking in your local charity shop or second-hand websites such as Vinted for preloved items. As long as they’re in good condition, the recipient will probably never know that they’re not brand new!
If you have any tips for savvy Christmas shopping, please let us know as we’d love to share them.
Happy shopping!
It is important to take professional advice before making any decision relating to your personal finances. Information within this article does not provide individual tailored investment advice and is for guidance only. We cannot assume legal liability for any errors or omissions it might contain. Ethical Futures llp is authorised and regulated by the Financial Conduct Authority.