Thinkmoney consumer expert Vix Leyton offers advice on avoiding overspending, unnecessary purchases and Christmas debt.
Thinkmoney consumer expert Vix Leyton advises people to plan their Christmas spending, avoid unnecessary social and gift-related commitments, limit credit use, reduce food waste and check whether Black Friday offers represent genuine savings.
Christmas spending can quickly add up, but planning ahead may help people avoid unnecessary costs, according to advice from Thinkmoney consumer expert Vix Leyton.
Here are nine money habits to avoid in the lead-up to Christmas:
1. Overcommitting to social plans
Social and financial commitments are linked, Leyton says. Saying yes to every Christmas drink can leave people spending more than they planned, particularly when casual plans turn into longer nights out. She advises remembering that relationships will continue after Christmas.
2. Buying rounds in the pub
People do not have to buy every round, Leyton says. Those who intend to stay for only one drink can say so, rather than feeling obliged to enter into an arrangement to buy drinks for everyone at the table.
3. Buying gifts out of habit
Reviewing gift lists may help prevent people from buying presents automatically for family members. If money is tight, Leyton suggests discussing alternatives such as Secret Santa or buying only for children. Receiving a gift does not necessarily mean a person has to buy one in return.
4. Giving everyone a surprise
Leyton advises checking whether a recipient genuinely wants an item before buying it. Instead of an unwanted present, someone might prefer a gift voucher or an offer of time, such as babysitting or cooking dinner.
5. Buying too many presents
Extra stocking fillers and novelty items can lead to overspending. Leyton says people should consider whether additional purchases are worthwhile, rather than putting themselves under financial pressure to buy things that recipients may not want.
6. Overfilling the cupboards
Traditional Christmas food may go uneaten, so Leyton recommends remembering what was left over in previous years and avoiding unnecessary repeat purchases. People hosting visitors could also ask guests to bring items such as mince pies.
She advises comparing prices on Christmas staples and avoiding multi-buy offers unless the products are genuinely needed. Buying food too early can also mean it is eaten before Christmas.
7. Buying gifts on credit
Leyton warns against using credit cards or Buy Now Pay Later services to spend more than is available. Debt can build quickly, she says, and recommends setting a strict budget and paying in cash.
8. Last-minute shopping
Buying and wrapping presents over the months before Christmas can reduce the pressure of shopping on Christmas Eve. Leyton also advises keeping a record of purchases to avoid buying the same item twice.
People travelling by train for Christmas may be able to save by buying tickets as soon as they are released, which Leyton says is at the end of September.
9. Wasting money on Black Friday
Black Friday and Cyber Weekend promotions can make it difficult to identify a genuine bargain. Leyton says the sales may be worthwhile for a planned major purchase, such as a television or washing machine, but shoppers should check prices on Google and include delivery costs when comparing deals.
