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For many families across the UK, Christmas can be the most wonderful time of the year, particularly now we are more freely able to spend time with wider family again. But it could also be the most expensive, with the costs of presents, entertaining and visiting family adding up. And rising costs mean that many of us are looking to cut our festive spending.

So how can we save money and still ensure our kids have the best possible Christmas? We spoke to personal finance writer Lynn Beattie, author of the Mrs Mummypenny blog to get her take.

The first step in keeping costs down is being realistic about what you can (and can’t) afford. Lynn adds, “Try not to compare this year to previous family Christmases. It’s going to be a very different Christmas for lots of us this year, and that’s totally fine. I know it’s hard but try and keep in mind that it’s just one day. Reframe Christmas in your mind and you can still make it fun for the kids without spending money you don’t have.”

Here are mum-of-three Lynn’s practical tips for cutting the cost of your family Christmas.

1. Set your budget

From decorations and travel to presents and festive food, there’s a lot to buy. Lynn says, “Put a number on how much you think you’ll spend this Christmas. Put a number on how much you think you’ll spend this Christmas and keep in mind that that is going to be extra on top of your regular spending.Can you start putting money aside each week? Or is there something simple you can do to generate extra money to pay for Christmas?”

Lynn suggests looking at how much you have on any supermarket loyalty cards or cashback accounts you might have. Also, see if you’ve got anything unwanted that you can sell for your 'Christmas fund'. “There are lots of different selling sites you can use”, adds Lynn.

And if you simply can’t afford everything you want to buy for Christmas? Try the following tips…

2. Write a list

No, we don’t mean for Santa! Instead, write down everyone you normally buy presents for at Christmas and decide if you can afford to get them all something this year. “In 2017 I was in £16,000 of debt, and I couldn’t afford Christmas”, says Lynn. “I had a conversation with my family and said I couldn’t buy presents for them and asked them not to buy for me either. Go through your list and have that conversation with your family and friends if you need to. Chances are some can’t afford to buy presents for you either, so it will be a relief for them.”

Another option is running a Secret Santa system for presents, so you only buy one present for one person in a group. “Set a limit you can afford,” Lynn advises.

3. Buy second hand

When it comes to Christmas presents, decorations and clothes, you don’t need to buy new, says Lynn. “Buy second hand and give preloved gifts. Look in charity shops or browse second-hand selling sites online. And chat to your friends. Do any of them have toys or clothes their kids have grown out of they could give or sell to you?”

4. Make Christmas decorations

Soaring energy costs means this may not be the year for covering your house in Christmas lights, says Lynn. “Instead, be more mindful about your decorations. Make paper chains with your kids using any paper you’ve already got at home. They don’t need to cost you anything. Look through all the decorations you’ve already got too. You probably don’t need to buy any more and if you’ve got more than you need, sell them.”

5. Get your Christmas dinner for less

If you’ve got a freezer, then you can start buying your Christmas dinner ingredients now and spread the cost, says Lynn. This could be frozen veggies or a frozen turkey crown. “I know lots of people don’t have a freezer”, says Lynn. “Don’t worry, you can still buy ahead of Christmas.” This could mean shopping for tinned vegetables and other cupboard alternatives. Otherwise, you might hold off until a few days before Christmas. “This is when vegetables are usually reduced in the supermarkets”, she adds.

There could be an alternative to turkey too, says Lynn. “Turkeys are so expensive and not everyone likes it anyway!” If you have a smaller number of guests at Christmas, it might be worth considering chicken as a cheaper choice of meat, which can also help avoid food waste.

If you’re hosting Christmas this year, Lynn has this suggestion: “Don’t be afraid to ask your guests to chip in towards the cost. When I have Christmas dinner with my family, we all pay into the fund and end up with enough money to cover all the food.” An alternative could be asking guests to bring elements of the dinner with them, for example, could someone supply dessert, while another brings trimmings like stuffing and pigs in blankets?

6. Make the most of your leftovers

Got leftover veggies and turkey from Christmas and Boxing Day? Use them to make more family meals, Lynn says. “A roasted vegetable soup is so easy to make, and you can freeze portions, too.” Or make a turkey curry and use the turkey carcass to make stock.

7. Borrow, don't buy

Need a costume for your child’s nativity? Or serving bowls for Christmas lunch? “Ask your network - your friends, family and other parents at your child’s nursery or school if they can help”, says Lynn. “As parents we can’t do everything ourselves. There is absolutely no shame in asking, even if it’s borrowing chairs for your Christmas guests to sit on or a camel costume for the school play. People love to help!”

8. Say no to nursery/preschool collections

When your child is at preschool or nursery, there can be pressure to chip in for a class gift for their teacher or key person. Lynn says, "I’ve spoken to teachers about this in the past and they are almost embarrassed by the excessiveness of the gifts. They don’t expect a present. I’ve always sent a letter, card or email to say what I appreciate them for.”Or get your child to make their teacher a card or draw a picture together.

9. Get cheaper travel

If you're travelling to see family or friends this Christmas, the costs can quickly add up. Lynn says, "Look for advance tickets to find better deals. Split ticketing on trains makes it cheaper too. And if you're driving, see if there's anyone you can lift-share with." You might want to consider alternatives to your usual choice of travel to save on cost, for example, taking a coach in place of the train.

10. Ask for help

Lynn also has this advice for after Christmas. "It’s not worth getting into debt for, but I know millions of people do. If you’re in that position after Christmas, then the first stage is being honest with yourself: 'Can I afford to pay this back and what monthly payments can I make? If you can’t afford the minimum payment, speak to or another free charity who can help you."

If you’re experiencing hardship or debt, there are organisations out there that can help. 91�ȱ� Action Line has a list of different organisations that may be able to provide support.

Lynn Beattie is author of the

Article published on the 21st October 2022.

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