Christmas Tip #6 - Budgets, The Credit Crunch & Saving Money at Christmas

With many family's budgets tighter this year as prices for essentials going through the rough and mortgage rates going up even if interest rates are going down. Oh, if you add higher taxes and lower job security, it doesn't add up to a great Christmas for many.

So here's some tips for making the most of a small budget.

I've got to say at the start that don't take any of this as finanical advice - I'm not authorised by the SFA!

But, its important to remember that you've really got to set a budget and work out how you're going to pay for Christmas.

One thing that really upsets me is when families simply overspend or just can't afford Christmas. Try, try, try not to get into debt over Christmas! I've known loads of people that just get carried away then spend the whole year paying it all back - or trying to.

If you've got to put things on credit then look at the cheapest forms! Use a credit card comparison site like Kelkoo and try and find if you can be on a better rate.

Also find out what your fees are for going overdrawn, and review your credit limit as early as you can.

When it comes to credit cards, look at what dates your statement(s) come(s) out and when you've got to pay them. If you've got a choice of two, all things being equal, try and spend on the one that has just had its statement printed rather than the one that is just about to be printed - that way you get another 30 days or so more credit. That is of course if you don't have an outstanding balance. Take advice about this though as everyone's circumstances will be different!

So how can you make the most of your budget at Christmas? Well it's a case of not listening to tip #5 and having gourmet Christmas dinners delivered but cutting down on the extra, super-dooper frilly stuff at Christmas. Still have a Christmas dinner and treats but don't spend a fortune! Look at the supermarkets' two for ones, offers, discounted products and buy early on or at the last minute and they're effectively giving away stuff.

Take a look at Tip #4 - The Christmas Countdown. Write your Christmas gift list and stick to it if you can. Don't go overboard with people. Think carefully about the presents as its often better to buy someone a great present that you've thought about that cost £15 / £20 than a load of rubbish ones that may cost £4 each but when you add them up it comes to £50!

You can get Cheap Christmas cards but you can also spend time with the kids making cards out of last years (they'll be in a plastic bag under the bed or something!) Or even don't send them at all!

Try saving wrapping papper from this year for next year. Just fold it up and put it in a box somewhere.

Instead of going down the pub, go for a walk. Try and do things that don't cost a packet!

Don't spend a fortune on food and drink you won't consume. Do you really like dates? Are walnuts really your thing? Don't fall into the trap of buying things just because others are!

Use price comparison sites like Kelkoo to save money.

Use Christmas discount codes where ever you can to save yourself some more money!

Enter some competitions and see what you can win! Also try Vofferu.

Try and find free stuff that retailers can send you - if you're really tight (and why not?) then you can give them as presents!

Think about using "Cashback Sites" where you get money back from buying online:
Cashback Junction
Cashbin
ecashback
Free Fivers