It’s hard to imagine it is just over four weeks till Christmas. About now, all the Christmas parties will start, and excitement will build as you think about those wonderful Christmas experiences when all the family gathers. For those who have lost friends and family about this time, there may be a layer of sadness and wanting to compensate with spending on some luxuries.
Whatever the reason, Christmas can be a time when we start to spend much more money on gifts and holidays than were planned. By the start of the New Year, you get your credit card bill and find you must start paying for those indulgences.
Now is the time to start preparing your Christmas Budget and stick to it
Ramsay Solutions
If you want to get a reality check on Christmas, I recommend you read Dave Ramsey’s detailed article, How to set up your Christmas Budget. The article even includes a quiz to find the ideal gift.
9 Ways to enjoy a cheap and cheerful Christmas
According to Natasha Ledgerwood of Homes, about $11 billion is spent during Christmas on presents, food, holidays and decorations. As she says, “This is crazy!”. She has a list of nine things you can do to cut down your expenses:
- Set a spending limit for all gifts
- Bring a thing
- Keep it simple
- Let food be the star
- Opt for inexpensive decorations
- Cheap gift wrapping
- Buy champers in bulk
- Use points
- Reuse and recycle
My favorite Christmas Treat
Over the years, families build up Christmas traditions, often handed down over the generations. It may be grandma’s special plum pudding or a special church service the family enjoys together.
Many years ago, I found a wonderful ham glaze, based on lime marmalade and ginger, but unfortunately, I lost the original recipe, The recipe was created by Bernard King, who was one of the original TV personalities on cooking shows. Each year I try to reproduce it because it is everyone’s favorite. Even my adult children want the recipe when they are not home for the family gathering.
The basic ingredients are:
- Rose’s Lime marmalade
- Glazed ginger, chopped into small pieces
- Ground ginger
- Brown sugar
- Yellow mustard seeds (cooked in butter to make them pop and release the flavor)
- Dijon mustard
- Sherry
- Vinegar
If by chance you have a copy of the original recipe, I would be most grateful, if you could email me the details.
Fry the mustard seeds in butter and then add all the ingredients. Add sufficient vinegar to give you the perfect sweet/sour combination. Glaze the ham in the normal fashion, but make enough to serve extra on your plate.
Financial Mappers and budgeting
The sensible thing for people on tight budgets would be to set aside a monthly savings specifically for the Christmas period. However, if you haven’t already done that, then it is too late for this year. But you can start the New Year with a new Budget that will include saving for Christmas and any other large one-off expenses you may incur during the year.
Glenis Phillips SF Fin – Designer of Financial Mappers and Advice Online
Disclaimer: Financial Mappers does not have an Australian Services License, does not offer financial planning advice, and does not recommend financial products.
