The festive vibes usher in the biggest gifting season of the year. It is also the time for meeting and greeting close ones after a long gap. Christmas is the official holiday season that ends by bidding adieu to the year.
Over the years, factors like the cost of living, reduction in wages and inflation have influenced the buying behaviour of the Brits. This financial anxiety reflects while shopping for gifts for the festival. Reportedly, 44% of retail customers preferred buying gifts even before September 2022.
The same trend is likely to continue in 2023 also. Besides, a few reports claim that retail companies look forward to making their loyal customers happy.
To enhance the customer experience, retail brands might shuffle up their return policies. Take advantage of these strategies to make your festive shopping cost-effective and satisfying for you.
One of the underrated pro-tip for festive season shopping is to anticipate and shop early. You can be among the 10% who consider writing down the shopping list denying the assistance of various AI tools.
The decrease in disposable income of the people will prevent them from buying gifts ahead of time. Make the most out of this opportunity to purchase gifts at better rates as the demand is likely to be less as compared to the last year.
If you want to keep the Christmas budget intact, consider applying for low-rate personal loans instead of any random loans. Have a feeling of respite by seeing the amount you can save in interest rates.
Stay here for more such tips to have a fun-filled festival without overspending!
Tips to help you shop for Christmas on a budget
You cannot ignore these vital festive expenses but do not want to overspend. A festival is not about arranging a lavish dinner party by exhausting your means. Try to keep the enjoyment factor at its core. It will be helpful for your budget also.
Otherwise, you will feel the need to borrow after encountering a crisis. With no time left, ending up with any pricey financing option is quite natural for you. Getting an affordable option like Christmas loans can help you sail through the sudden spike in cash demand ahead of completing the festive preparations.
Follow the below tips if you want to keep these complications away and have a peaceful celebration.
1. Prepare the list of payouts
Does it seem like a typical ritual? You must have seen your parents doing the same thing ahead of Christmas. This simple trick brings the widest range of pros.
Preparing the list is not at all a hefty task. You can pen down all the essentials you need to buy. Moreover, type everything in a Word document file on your computer.
A list is critical as it helps simplify if you can afford it. It can be a long list, but not necessarily, the one you should follow. Adjust and eliminate payouts according to your budget.
You will have to bear the burden of outstanding payments because of overspending. Do you want to begin the New Year with the baggage of debts? Work according to your answer.
Realise the perks of having a budget while finalising the spending. Accomplish your shopping target without overdoing the budget you have set.
2. Be practical while shopping for little ones
Do not extend your spending limit while shopping for little ones! They are too small to understand the worth of the costly presents you bought for them. They will never judge your gifts based on their price tags.
Moreover, kids grow faster before you can realise it. Therefore, the present, which is essential now, will no more be in use for them in future. Gift them something less costly but at the same time functional.
Determine what you can gift them by using the given table’s help.
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What do they want? Toys Games Pets Chocolates etc |
What do they need? School supplies Craft accessories Love Emotional support etc
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What do they wear? Dresses Shoes Socks Accessories etc |
What do they read? Books Comics Magazines etc |
3. Keep yourself out of the list
If you want to work with a tight budget, discard the idea of self-gifting. Although the festive season motivates you to splurge money on desired things, it will expand the budget.
Buying home décor items in the name of self-gifting can result in overspending. The primary purpose behind deciding on a strict spending limit is to eliminate avoidable payouts.
Carry cash along with the list while shopping from an offline store. This way, you cannot exceed the budget and purchase anything random for yourself. This harsh attitude can save hundreds of pounds and prevent you from getting trapped in debt.
4. Compare and pick the best deal
Handle the retail tricks smartly, or else budgeting will not even help. These are nothing but marketing strategies of retail brands wherein they introduce an offer to entice buyers like you. The idea is to trap you in a sales cycle, projecting the purchase as your chance to save extensively.
Instead of snatching the offer right away, spend some time shopping around. Control the urge to buy, seeing the price wars. Calculate the actual amount you can save based on the discounts supermarkets offer.
Try to pick the same item placed beneath what is available within your eyesight. This trick often helps pick up the same item less cheaply. Avoid getting gift cards which people often forget to redeem within the given time limit.
5. Plan for personalising experiences instead gifts
Spending time with family and friends is a priceless experience. The most significant gift for anyone close to you is your time. Plan some nearby outgoing expeditions to have a fun time with your near and dear ones.
A normal get-together party with all the family members and relatives is what can make Christmas exclusive for you. No need to break the bank to arrange these gatherings. Make it eventful by asking everyone to contribute.
None will deny paying for enjoying this fun family time together. In addition, you can plan for movie outgoing also and dine out. This should not cost more than what you expect to spend in the name of gifts.
6. Pay your debts at the earliest
Think twice before putting the burden of Christmas gifts over your credit card. Check if you have cleared all the dues on time. Using this card without paying the balance means inviting more debts.
To handle credit card debts tactfully, you might need the assistance of Onestoploansolution. Reduce the pile of previous, pending payments by borrowing a suitable amount.
This lender offers help at reasonable rates. Utilise this lending service to get rid of debts and to optimise credit card usage for festive purchases.
Borrowing might be a risky decision depending on the individual situation. Beware where you are standing currently before making sure about getting loans.
The bottom line
Christmas is an opportunity to have a gala time with your family and friends. This phase of the year is what you have been waiting for. Planning and enthusiasm are necessary to have a wonderful celebration before the year ends.
With a few reality checks and conscious budgeting, you can avoid overspending. Keep the financial stress and enjoyment levels low in this festival eve.
Mark Williams works as one of the Loan Advisors at a direct lender firm, Onestoploansolution. He has been working with the lender for about 15 years. He has been known to facilitate his employer in remarkable ways from writing to consulting and whatnot. He is a professional who wants to explore more of the UK financial market, the loan products and how customer requirement changes with time.
