The frugal way to spend this Christmas

Do you overspend at Christmas? If you do, you’re not alone! Financial solutions company Think Money says you can still have a Merry Christmas without overspending, if you use your imagination.

Research from uSwitch recently revealed that 26% of people feel that receiving a present on Christmas day isn’t as important as getting what you want – at a better price. They will be giving IOUs to their families and friends this Christmas and will wait for the January sales where they’re guaranteed to find savings. Some people estimate they could save up to £100 this way.

Christmas can be a very expensive time of year, especially when you consider the cost of kitting out the house with festive decorations. Think Money recommends investing in a fake Christmas tree and reusing your decorations every year. A real Christmas tree with decorations can cost around £40 – you may think of other things you’d like to spend that money on this Christmas.

People with debt worries may find they’re forced to cut back this Christmas, especially if their debt repayments take a considerable part, or all, of their disposable income. If you’re really struggling with debt this year, debt management could help you to get back in control of your finances.