Take a deep breath. We are nearing the end of 2020 - phew! What an incredibly taxing, yet transformative year it's been. A lot of us are lugging around extra baggage from this year and it can be a lot harder to enjoy the yuletide spirit when yourself or your loved ones are weighed down or worried about financial health.
Let's face it, Christmas is a wonderful time of the year …but not for our finances so here are our top tips for a less expensive, more meaningful Christmas this year.
7. Quality over quantity
The average Aussie is planning to spend $893 this Christmas. Feels like a-lot, doesn’t it? We know Christmas is expensive, but if this years taught us anything its that happiness is self-created. Money and ‘things’ can only go so far and the power of human connection is so strong that we don’t need to overcompensate with trivial things. So before you go on that spending rampage, take a moment to pause and think.
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Think about what you already have and whether you’ll be able to reuse it in any way to help cut costs.
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Think about simplifying traditions. Switch it up this year with things like a Secret Santa approach to gift giving or skipping gifts entirely and instead planning a special day or time away together. Using your finances to create memories is a beautiful thing.
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Think about where exactly you want to spend your dollars. Is it supporting local, small businesses or creatives? Is it being mindful about the environment? The money in your wallet holds so much influence and every dollar spent is a vote for the world you want to live in.
8. Avoid the shopping mall if you can
Not just because of the crazy crowds, the parking lot jams, or that pushy salesperson that won’t leave you alone.But because there are SO many temptations. So many!
There is nothing worse than coming home with spending regret. I for one am definitely guilty of this - buying items in the flurry and commotion of Michael Bublé Christmas music and big red ‘For Sale’ signs. Gratifying at the time, sure, until the realisation hits that you’ve wasted countless hours, bought some questionably over-priced gifts, and you’ve missed something or someone on your list that overwhelms you with dread because you might just have to go back and do it all again.
Needless to say, save money, stress and time - shop online.
And practice restraint! Wait until after Christmas to buy those hefty items you’ve had your eye on. They’ll usually be a heck of a lot cheaper on Boxing Day.
9. Share the load
With so much promise for connection, joy, and relaxation during the holiday season, we can all too easily fall from grace with way too many needless to-dos, high expectations, or excessive indulgences.
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Draw up a list of exactly what needs to be done and delegate where possible to keep costs low and stress at bay.
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Quit being the sole cooking elf. Share the workload and ask for help. Even if you’ve planned your grand lunch to a tee, ask your guests to bring a plate - Christmas day leftovers is a great money saver!
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Ease your mental load and manage your expectations. Christmas will be different this year. It’s been an imperfect year and we should aim for an imperfect Christmas. (And maybe, just maybe, we might be delighted with a happy ending!)
