12 Budgeting Tips To Save Money This Christmas

It's time to eat, drink and be merry! The Christmas period for a lot of us involves having gatherings with family and friends, checking out special Christmas menus at our favourite restaurants and buying our nearest and dearest the gifts they've requested from Santa.

As a result, the festive period can be an expensive one. And it's not just gifts and parties you'll be spending on. Perhaps you're also buying new furniture or decorations to spruce up your home before having guests over or forking out for facials and massages to get you into the holiday mood. With the additional worry of an increase in the cost of living, you might have more of a reason not to rack up extra bills this Christmas. 

Here are 12 budgeting tips that will nab you some savings this Christmas.

Make a list

This might sound like the most basic of money-saving tips but there's a reason it's repeated in many scenarios – it works! When you list down what you need to do for any specific purpose, sticking to it means you'll get things done exactly as you planned. You won't have the chance to stray from what you have to buy so you won't overspend. But don't just make a list of what you want to buy, that could break the bank. Set yourself a budget first, then work around it to fit in what you need for the festive period. Just make sure you don't add to the list once it's been finalised. 

Buy 'group presents'

If you're giving gifts to couples or families, try buying one thing they can all share, instead of several individual items. So, perhaps a bottle of wine for your bestie and her husband or an expensive box of chocolates for the family next door. You could even get a board game for your young nieces and nephews to enjoy together, instead of individual toys.

Watch that delivery fee 

When buying gifts online, save money by getting them all from one store so you only pay a delivery charge once. You might even skip this extra fee as you've reached the 'free delivery' limit. Be smart about where you shop online and take advantage of free delivery deals whenever you can. 

Consider regifting 

You might have a lot of new, unused things lying around your house. You can give them as gifts instead of buying new ones. It could be something you were given that you didn't like or perhaps you have more than one item of a certain thing. Did you receive too many bottles of champagne at your recent wedding? Give a couple to friends you know will enjoy them. Have you bought many scented candles but never use them? Wrap them up for someone else. There's one rule to follow here, though – make sure the gift doesn't end up with the person who gave it to you or someone who knows the original sender. 

Try a 'Secret Santa'

Instead of having to get presents for everyone in your friend group, suggest doing a Secret Santa. Everyone will then only have to buy presents for one person, which will save a lot of money. Put a price limit on it so nobody spends too much (or gets too cheap). Then have fun by opening these presents during your Christmas catch-up.

Limit your Christmas gift list

You don't have to buy presents for everyone. Set some rules such as presents only for your family and not friends. Or if your friends have kids, tell them you'll only get something for the kids. You could also inform them in advance not to get you anything so it saves the awkwardness of having to accept a gift when you haven't given them one.

Have a Christmas meal instead

Who doesn't love feasting at Christmas? Phoebe J*, 46, an entrepreneur and mum to a 14-year-old, has the following advice: “Instead of giving presents, cook meals and invite small groups of friends to share it and make memories. My friends and I get together and share a meal, I find it meaningful.”

Don't stop for that coffee!

We get it, Christmas shopping can be exhausting. But if you're stopping for a large coffee and a slice of cake every time you're out buying gifts, it's going to add up. So cut out all the (expensive) distractions and concentrate on ticking items off your shopping list. 

Make your own presents

If your craft skills are higher than primary-school-art-projects level, consider making instead of buying gifts. Make a cute bookmark for your bookworm niece, gift wrap a bunch of flowers beautifully for your close friend or create unique art pieces if you're artistically inclined. You could even search online for DIY tutorials on things such as personalised essential oils or body scrubs. And, if you love baking, even better! Cakes, cookies, tarts, pies – nobody says no to delicious food gifts. Whether it's crafts or food, they're more cost-effective if made in bulk. 

Don't use wrapping paper

They make presents look oh-so-pretty but you don't have to buy expensive wrapping paper to make a gift more meaningful. Options include recycling your paper shopping bags, using brown paper/newspaper, using textiles, or just giving the gifts as they are. It's also more environmentally friendly to not use paper that will probably be thrown away a few minutes after the recipient gets it. However, if you're buying gifts from a store and they offer free Christmas wrapping, go for it! The store would have thrown it away anyway if it wasn't used so you might as well put it to good use. 

Share your clothes

Don't shop for new outfits just for Christmas, do a clothes swap with your friends instead. Jolene C*, 38, works in marketing and has two close friends who have similar tastes in clothes as her. “We tend to share our clothes at times as we don't always mix in the same circles so our outfits look new to others. Even sharing accessories and handbags saves us money!” shares the mum of two kids aged six and eight. 

Smart Christmas entertainment

Love Christmas movies? We do too! Don't let those streaming bills rack up during the festive season. Find movies you can watch for free on apps you already subscribe to or take advantage for those 'first month free' deals during the holidays. If you have a DVD player, you could even go old-school and borrow DVDs from your local library. Search on the National Library Board website or download the NLB Mobile app. 

*not her real name