The holidays are here, and with them come the sparkling lights, festive tunes, and endless excuses to eat chocolate before 9 a.m. Plus, there are those festive trips to other countries to see Christmas markets there too. Honestly, what’s not to love there). But it’s best not to sugarcoat it: Christmas is also expensive.
Yes, everyone knows that (except kids), and yes, this is the time when so many people are making so many money mistakes! Just think about it: between the gifts, dinner parties, decorations, and that last-minute work Secret Santa, the costs stack up maybe a little too fast, right?
Well, the thing is, it’s not just the rising cost of living that’s making it hard to enjoy the season; sometimes, it’s the little mistakes that quietly drain your wallet. Basically, it’s all about spotting those pitfalls well before they turn into financial sinkholes. So, where do you even begin?
Financial Mistakes to Avoid This Holiday Season
Overspending on Gifts That Don’t Really Matter
While yes, gift-giving is a lovely tradition, does everyone really need a present? No, really, ask yourself that! Every year, there’s that moment of panic where you’re suddenly buying for Karen from accounts or that neighbour you barely know, just to avoid looking stingy. It’s unnecessary, and frankly, it’s exhausting.
Most people don’t expect (or even want) a last-minute token gift. Instead of trying to buy for everyone you’ve ever exchanged pleasantries with, focus on close friends and family. Basically, just skip the fluff and save your budget for what really counts.
Waiting Until the Last Minute to Shop
Yes, you really need to understand that last-minute Christmas shopping is a trap. Seriously, there’s the whole panic, the crowds, and that desperate feeling of “just buy something, anything!” almost always leads to overspending. Yes, retailers know this too, which is why all the good deals disappear by mid-December, leaving you with full-price items and limited options.
Basically, the earlier you start, the better. Sales pop up throughout the year, and spreading your shopping over a few months takes the sting out of big expenses. It’s just better for your sanity, too, so just think of it that way.
Getting Sucked Into Holiday Trends
Every Christmas brings a new batch of trends designed to make you feel like you’re not doing enough. This is more or less a newer concept, thanks to social media (especially IG and TikTok). So, you’ve got those ugly matching family pajamas? TikTok recipe trends that taste bad (but are somehow aesthetic). Viral must-have gadgets? Seriosuly, drop that pressure to keep up. Do you even like these things? Just focus on the things that matter to you, not what’s trending online.
Believing Every Discount Is a Deal
Oh, there are Black Friday, Cyber Monday, and Boxing Day sales, and yes, retailers know how to make “discounts” look irresistible. But not every sale is worth it. Some discounts are just clever marketing on items that aren’t really in demand, and others might only knock a small amount off an already overpriced product. It’s getting worse by the year; don’t fall for it.
Selling Used Items Too Late
Selling used items during the holidays might sound like a genius way to make extra cash. After all, everyone’s looking for deals, right? Well, yes, but so is everyone else. Yes, you read that right! So, the holiday season is one of the busiest times for second-hand marketplaces, which means you’re competing with hundreds of other people trying to offload their stuff.
By all means, you can still try and sell iPhone and your other gadgets during this time (it might be easier to sell to businesses rather than platforms), but just keep in mind that you will be dealing with competition. Usually, spring and summer are the best times to sell second-hand items.
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Going Overboard on Food and Drinks
Christmas dinner is a highlight of the season, but it’s also one of the easiest places to overspend. The temptation to go all out with premium ingredients and an endless variety of drinks can make the meal cost more than the gifts under the tree. Actually, you’re better off just doing a potluck if you’re hosting anything (it is so much cheaper, and guests tend to feel pride in bringing in some food).
Ignoring Hidden Costs
Oh yes, this one might just be the biggest of them all! So, for starters, Christmas has a sneaky way of adding in costs you didn’t plan for. For example, wrapping paper, postage, petrol for visiting relatives, electricity bills from running those lights non-stop, and the list can go on and on.
Well, these little extras might not seem like much, but they can add up quickly. So keep your eyes peeled for these things, and see if there are cheaper alternatives (such as using old fabric rather than wrapping paper.
