Countdown to Christmas: Charity helps Forth Valley families avoid Christmas debt
With only three months until Christmas, local debt help charity, Christians Against Poverty (CAP), is urging people to take proactive steps for a financially stress-free season
Fiona Primrose is a debt coach for Christians Against Poverty which provides free debt help in Forth Valley and says that the Christmas season can put significant pressures on low income families, especially those struggling with debt.
Fiona says: “Times are tough, and everyone is feeling the pinch of rising prices and inflation. The 25 December may seem a long way off, but with only three months until Christmas, now is a good time to plan and save for the season to avoid stress and money troubles later.
“We recognise the financial strain Christmas expenditure can have on families, and so want to offer some practical tips to help everyone have a financially healthy Christmas this year.”
Determine Your Savings Goal
Think about what you can realistically set aside to save for Christmas. Remember, if you’re paid monthly, that’s only three or four pay packets until Christmas Day.
Allocate Your Funds Wisely
List all your expected Christmas expenses, which includes gifts, decorations, food and treats, travel costs, and any festive activities. Before buying anything, check what you can reuse from previous years to reduce spending. Once you have a total cost, you can work out a Christmas budget and allocate your savings to each category.
Spread Out Your Purchases
Don't leave all your shopping until the last minute. Plan what you'll buy and when. This could be as simple as purchasing one or two gifts per month. Spreading the cost allows you to take advantage of early bird offers and sales, easing the financial burden closer to Christmas. Remember to stick to your budget and don’t be tempted to impulse buy if it’s not on your list.
Consider Sharing the Cost
For families hoping to buy larger or more significant gifts for young children, discuss with relatives and friends the possibility of pooling resources. This not only helps manage the cost but can also help in managing children's expectations.
Give Budget-friendly Gifts
Why not get creative, use the skills you have and save money by making your gifts instead of buying them? You don’t have to spend a lot to show someone that you care, and giving a homemade gift, or even doing a task for someone, can demonstrate love and thoughtfulness. You could also check if any local churches in your area are holding early Christmas events where you can purchase great Christmas gifts at low prices.
Utilise Free Budgeting Tools
There are lots of free budgeting tools and templates online designed to help you plan, track, and save for your Christmas spending. CAP also offers extensive support through its free money coaching workshops, launching this autumn. These workshops are specifically designed to equip individuals with the skills to manage their money effectively, both for short-term goals like Christmas and for long-term financial wellbeing.
Explore CAP's Online Resources
CAP's website provides a wealth of information, practical advice, and tools to help you manage your money, reduce debt, and plan for the future. CAP is committed to supporting individuals and families towards financial freedom.
Fiona continues: “Planning ahead for Christmas, even if it's something you've never done before, can significantly reduce pressure, and avoid starting the New Year stressed out with debt.”
For more information on CAP's free local services, debt help, money coaching workshops and budgeting resources, please visit capuk.org.