How much do you spend at Christmas?Christmas is all about temptation … but we all know what happened to Adam and Eve. Ben Livesey, editor of Moneywise magazine, talks us through safe spending over the silly season, while parenting expert, Sharon Charlton-Thomson advises how to manage those never-ending demands on Christmas!
Immediately after Halloween, the shops fill with Christmas decorations, gift guides and special Christmas presents that most people probably wouldn't even touch at any other time of year. Yet it's easy to get caught up in the hysteria of Christmas that's happening earlier and earlier every year, especially if you have a young child and a generous nature! Problem is, your wallet probably isn't as big as your heart, so what can you do? We asked babyworld members how much you typically spend per child at Christmas. The figures were pretty close! The highest percentage of you (33%) spent up to £100, while 20% spent up to £150. The third highest group (19%) allocate up to £50 per child, while 11% fork out an impressive £200. Six per cent of you incredibly spend over £300 per child! In joint last place, with 4% each, were those of you who spend up to £250 and £300. In the end, the amount you spend only matters if your finances can't support it. Therefore, we asked Ben Livesey, father and editor of Moneywise magazine, to advise on what damage limitation can be done on your wallet! His helpful tips follow. Fight your emotionsIf you find it hard to resist temptation then Christmas can be a bad time of year for you. It's when people are most likely to start impulse-buying as there's no greater carrot than buying for your children or grandchildren. After all, if you can't splash out on your loved ones at this time of year, when can you? Hard as it might be, try to fight your emotions and look at your Christmas shopping in a detached way. Very few people do this but drawing up a spending budget can really help to keep within your financial limits. Try to spread the costs over several months, rather than buying everything out of your December or November pay packet so you avoid going into the red and accruing a huge overdraft. Finally, ask people what they want and then determine whether you can afford it. If nothing else convinces you to spend wisely, remember that most items are slashed in price, sometimes by more than 50 per cent, in the January sales. If that's not a slap in the face, I don't know what is! How to avoid temptationWhen you tackle the shops, avoid the temptations of window shopping. Plan a shopping route and stick to it so you buy what's on your list rather than being at the mercy of wonderful retail displays. If you can, before you leave the house, compare prices for your presents on websites such as www.kelkoo.co.uk. Be proactive! Tell grandparents and other relatives what you want, both for yourself and your children. This will help you stock up on things you need (eg clothes) and also avoids duplication of presents and long queues to return the presents in the January sales! If you can't think of anything in particular that you want, or would rather choose things yourself, why not ask for gift vouchers? If things go pear-shapedIf, despite your best efforts, things start going off the rails financially, avoid using your store cards and going into your overdraft, which may carry hefty penalties. Instead, look at the interest rates on your credit card - some offer you the opportunity to gradually pay off what you owe interest-free. It's always worth ringing them up to ask, especially if you have been a good, conscientious client. Another option is taking out a personal loan with a reputable bank or building society. Spend less … and enjoy Christmas more!As a parent myself, I know how tempting it is to throw caution to the wind. Whether it's your baby's first ever Christmas or your toddler's first proper understanding of the holidays and excitement, you will naturally want to indulge them. The key message here is that you still can have a great time at Christmas without having to live on baked beans afterwards because you have overspent. The younger your child is, the easier it is to have a lovely holiday without becoming bankrupt. Make the most of this time to enjoy the time with your children and remember - the little ones are probably just as happy (or even more so!) with the box the toy came in rather than the present inside! Are your heartstrings being pulled to breaking point? Read Sharon Charlton-Thomson's guide to managing your little one's expectations over the festive season on page 2! 1|2 Where to next?
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