How to minimize financial stress at Christmas time

Up to 900 USD are spent on Christmas every year by each household, including more than 500 USD paid only for gifts and Christmas cards. Women are the most stressed during holidays as they contribute 20 hours early on buying Christmas presents. We have prepared a list of solutions to minimize financial stress during Christmas time, which will help you enjoy the holiday.

1. Make an exact plan of your party

If you have an exact plan you will be sure that you will not need extra expenses. Set your budget first and decide how many people you could invite. Make a list of your guests and send them invitations beforehand. Ask them to reply whether they are sure to come. Calculate how much food you will need per each guest – for a starter, for the main dish, for dessert. Do not forget beverages! Plan what presents you will give. You are likely to need different types of presents for your family and friends.  Make a shopping list that would match your budget and go shopping!

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2. Spare your expenses with others

Now that you have made a plan, you know how many guests you are going to have. Moreover, you know your menu from starters to desserts and can plan the expenses. Simply divide the total sum by the number of your guests. Each one will have to pay his or her part, so the spendings will be carried equally. It is quite fair, is it not? Just a small piece of advice: make sure beforehand that your guests are not against the idea of common expenses.

3. Cut your spendings on gifts

How much of your paycheck should you save?

Giving a personal present to each of the guests may become too costly. You could buy small inexpensive presents, which could be similar for some of your guests instead. Unite your guests into groups of interests. Each group gets the same small gifts according to their interests e.g. those who like movies would receive posters, and those who like yoga would get aroma candles etc.

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4. Start saving money for Christmas beforehand

Christmas time will be much less stressful if you start saving money ahead, let us say from 3 to 6 months before the holiday. In that case, you could put aside a very small sum from your earnings every month. In the end, you will not need to spend your whole salary on a Christmas party and presents when the time comes. You will be spared of stressful situations when you need to make loans or break your emergency money box. Every expense will be planned and covered in time with the money that was especially saved concerning this goal.

5. Start looking for presents ahead

We all like Christmas sales. However it is not so profitable to go shopping during this time of the year as it may seem. There is much enthusiasm among buyers. You can easily get involved in this sentiment and buy absolutely unnecessary things without realizing it. That is why most financial advisers recommend buying Christmas presents beforehand. It can even be done in spring or in summer. The more time you have the more carefully you choose and the better goods for a lower price you get.

6. Enjoy the party!

You have done a great job and now you deserve to enjoy the party just the same as your guests! Plan some free time for yourself, when you can do things that you like most, for example, watch your favorite movie, take a relaxing bath or just a walk in the nearest park. You did everything right going step-by-step through the list of solutions to minimize financial stress. Stay in a perfect mood until next Christmas and repeat this successful experience!