Christmas is looming and I am sure many of you are already getting organised, despite feeling the impact of rising prices and increased household bills. But where does that leave when you have Christmas to think about?

Go back to basics

If you are worried that you can’t afford Christmas, go back to basics and think about what a realistic Christmas looks like. Make a list of what you normally do/buy and step back. Do you need it this year? Can you economise? Is there an alternative?

Talk to your kids

Having an honest conversation with your kids about why you might not be able to get everything they ask for this year will ease the pressure and help them understand the true cost of Christmas.

Talk about the difference between needs and wants. Needs are the things we can’t do without like food and heat. Wants are the things we would like to have.

We all know that Christmas is about wants, but sometimes we have to be realistic.

Involve your kids in making your gift and food shopping list so they can get a true picture of what things cost. They might just have some ideas on how to save money.

Need to spread the cost?

If you need to borrow to spread the cost, make sure you borrow from a responsible lender like Hoot; we will only lend to you if we think you can afford it.

Avoid high-cost lenders and local money lenders. Especially informal and illegal money lenders. They may be fast in handing you the money, but you would pay dearly in the long run. They are called loan sharks for a reason.

Take a look at our save while you borrow loans

Still feeling worried?

Don’t keep the pressure of managing Christmas to yourself this year. Share you concerns with a friend or family member; talk to your kids about what is realistic this year; and keep it simple. You might find that your realistic Christmas makes a difference to your financial well-being.