Christmas Top Tips 2012
Decide your budget and stick to it
It can be really difficult to budget over the holiday period. As well as extra expenses, benefits and wages may be paid early because of bank holidays.
Make a realistic list of all your expenses and how much you can afford to spend on each – is there anything you can cut down on or remove from your list? Planning ahead may help you feel in control and reduce stress. A free online budget planner is available at www.moneyadviceservice.org.uk, or request a copy of the Gingerbread MoneySense booklet from our helpline.
If you cannot afford to buy something on your child’s wish list talk to them about it. Give proper reasons so they understand your explanation. “Because I say so” is unlikely to satisfy them. Explain why a gift is not suitable or too expensive. With older children an item may mean more to them because it fits in with their friends or image. Consider making a deal where you contribute to the cost of a present, with your child taking responsibility for saving the rest. For example, from a part-time job or other relatives who may be willing to contribute.
- When it comes to your child wanting an expensive
toy that you know is rubbish but they see as great
because the TV ad makes them look great, the
simple answer is to take your child to the toy shop
and let them see the reality. My daughter was often
disappointed with the real item as it wasn’t as good
as it looked on TV. I would then allow her to see
what else the shops had and when we got home
she would put a better choice on her Christmas list.
Often they were cheaper but better made, and they
got played with regularly rather than put in a
cupboard after a few days.
Avoid using credit
Try to avoid using credit or borrowing money to pay for things. If you do have to use credit, shop around for the best deal. Compare interest rates, work out how long it will take you to repay and find out what the total balance will be after interest is added. Do not be tempted to sign up for store cards if you are out shopping for gifts, as they can charge even higher rates of interest than credit cards.
For an impartial, straightforward guide to borrowing money, contact the Money Advice Service at www.moneyadviceservice.org.uk or call 0300 600 6000.
Be savvy about presents
Everyone’s feeling the pinch at the moment, so you
might decide with family or friends to only to buy
presents for the children or organise a secret Santa
for the adults.
- When me and my sister started having our babies,
we agreed that we would just buy small presents for
the kids and nothing for adults, as Christmas is for
the kids really. That made Christmas shopping a lot
easier and cheaper.
- If money is tight how about making your family
some presents? Or create small hampers of things
they like or novelty items, wrap boxes with paper
and buy cellophane makes them look expensive and
friends and family should love the time and effort
you have put into creating these.
- For cheaper presents, I always make my own jam,
last year was blackberry and this year is plum and
grape. Wrap them up in pretty paper and people
seem to love them.
If possible, agree tactics with your child’s other
parent or family members about presents. For
example, you may want to agree that you both
spend roughly the same amount on presents for
your children, even if one of you could afford more.
Spending time together can be equally valuable as
fun times last longer in children’s memories than
gifts.
If you use the internet, check to see if you can get a
better deal online than you can on the high street.
Try price comparison websites to hunt for bargains
but remember to add the cost of any delivery
charges. Also remember to book your online
delivery slot early for Christmas to avoid
disappointment. You can find out more about your
consumer rights, including buying online by visiting
www.adviceguide.org.uk.
Money problems?
Many community groups, local newspapers and radio stations run Christmas toy appeals, which donate gifts to families in difficult circumstances. To find out details, look in your local newspaper, listen for adverts on your local radio station or contact your local Citizens Advice bureau.
Your local area may have a food bank, which provides free food and support to local families. Food boxes usually contain three days’ worth of food. The service is provided to support the local community, so don’t be afraid to ask for a little extra help if you need it. You may find that other local organisations offer a similar service, such as the Salvation Army.
If your family does not have enough money for food, heating or other essentials, you may be able to get a crisis loan from Jobcentre Plus. This is an interest free loan of up to £1,600. You do not have to be receiving benefits or tax credits to apply.
For more information on food banks, local support and crisis loans contact your local free advice centre, Citizens Advice bureau or Jobcentre Plus.
Think ahead to the future
If the holiday period is difficult for you, try to look ahead to the New Year as a time for positive change. Are there things you have been putting off or too busy to sort out?
You may think it’s impossible to deal with long-standing problems or reach your goals but there is help out there.
Whether it is tackling debt, studying, training or wanting more support, there are organisations that can give you the advice and information you need. If the organisation you need is not listed, call the Gingerbread Single Parent Helpline and if we cannot help, we can give you details of other organisations that can.
Useful Organisations
Organisation: Money Advice Service
Details: Provides impartial financial information including budgeting, loans, credit cards, mortgages and savings.
Phone: 0300 500 5000
URL: http://www.moneyadviceservice.org.uk