Cutting the cost of Christmas

We are looking forward to Christmas yet many of us are likely to be worried about the financial strain due to the cost-of-living increases. Here are some ideas that won't break the bank!

First of all, work out what you can afford to spend by calculating your budget. Christmas is one day – don't ruin the whole of the next year for it.

One gift is enough. Resist the temptation to 'top up' and buy more than is necessary. If you feel you must give something extra, limit second gifts to something homemade for a personal touch.

If you've got a lot of people to buy for, such as extended family and friend groups, suggesting a Secret Santa is a great way to keep costs down.

Avoid Buy now Pay later schemes - tempting as they are, unless you have a plan in place for repaying the loan within the interest-free period you will be charged an aggressive interest rate and it could have a negative impact on your credit score if you default on payments.

Don't over cater! This is one of the most common and easiest ways to spend more than you planned to over Christmas. The shops are packed with tempting food and drink and buy-one-get-one-free offers. Again, planning is the key. Try sticking to your list and having a clear idea of exactly what you want before starting.

Remember, we are still here for everyone, whatever the problem.

With our warmest Christmas wishes,

Citizens Advice Portsmouth