Five top tips for budgeting this Christmas
Most people will appreciate that you are on a tight budget so don’t put pressure on yourself to buy gifts that you cannot afford. Be honest with friends and family if you do not have the money to buy gifts and maybe agree to just spend time together instead.
Most people will appreciate that you are on a tight budget so don’t put pressure on yourself to buy gifts that you cannot afford. Be honest with friends and family if you do not have the money to buy gifts and maybe agree to just spend time together instead.
Our Student Support team has put together some top tips for budgeting over the festive period.
- Why not give alternative gifts? This could be homemade goods or you could offer to do tasks for people, like babysitting or washing up for a week.
- If you do buy gifts for friends or family, you could try reducing the cost by doing a Secret Santa – so each person in the friendship or family group buys for one person only. Make sure to agree a cost limit in advance.
- Avoid using credit or ‘buy now pay later’ schemes to buy gifts as this will cost you much more in the long run.
- Don’t buy goods on the spur of the moment. Events such as Black Friday and January sales encourage us to buy things quickly for fear of losing out. Before you buy ask yourself: Do I really need or want this? Can I afford it? Can I get it cheaper elsewhere?
- If you are travelling to stay with family or friends over Christmas try to buy your ticket early as you can often get a good discount if you buy in advance.
Support with your finances
Register with Blackbullion using your BCU email address to get free access to lots of information and guidance on money issues, including budgeting.
Reach out if you need support
Remember, there’s lots of help available from the University and beyond.
If you are struggling or worried about managing money over Christmas, then ask for help. The Student Support Team can offer advice and support to any student who is worried about money.