Seven ideas for an affordable Christmas

Published Nov 26, 2024, 5:00 PM

Christmas is getting close - but if you haven’t done your Christmas shopping, or even started saving yet - don’t worry. Join Canna Campbell - a financial planner for 20 years - and Fear & Greed's Michael Thompson put together seven great ideas for a fun, affordable Christmas.

Welcome to How Do They Afford That? The podcast that peeks into the financial lives of everyday Australians. I'm Michael Thompson. I'm a writer and the co host of the podcast Fear and Greed business news. As always, I'm with Canna Campbell, financial planner, founder of Sugar Mumer TV, the financial literacy platform covering YouTube, podcasts, books, Instagram threads, TikTok and more. Merry Christmas, Canna.

Merry Christmas. What are you doing for Christmas?

Well, considering it's only late November, I haven't given it a huge amount of thought yet. But that is why we are talking about Christmas today, because it is getting alarmingly close. And if you haven't done your Christmas shopping, if you haven't started saving for Christmas yet, don't worry. We are here to help. We are essentially the Santa Claus of money advice.

Well, we can't pull out copious amounts of money out of Santa's sack, but.

We can pull out copious amounts of advice. General advice, of course, that's right, tips and tricks and things to help you afford a nice Christmas. If like me, you haven't even considered that it's Christmas just around the corner. We are going to put together a list, much like Santa does just before Christmas, the one that he checks twice. I made that joke once we did a Christmas episode a couple of years ago.

Isn't you wore that lonely shirt?

I did, didn't I?

Yes, with the brood off the Braindeers.

Yes, yes, And I made that joke to you and you entirely missed it, and I still not moved past it. I said, I still don't think I get it, okay, because you know how in the song Santa Claus is coming to town, he's making a list, he's checking it twice. He's going to find out who'snaudy and nice.

I've never gone that deep into the lyrics, but because what happened in that episode was one of the things that you suggested for Christmas was make a list and really stick to it.

And I said, all right, so we're making a list and we're checking it twice, and you're like, yeah, that's a good that's a very good idea. Yeah, check it twice. Way over my head.

Sorry about that.

And the worst part was I then made it a second time because I didn't think you'd notice the first time, and it went over your head the second time as well, And so, like a complete idiot, I've gone and made the same joke a third time today and once again it's gone straight over. And now I've spent the last two minutes explaining it to you, and now I feel like a Christmas goose.

Well, I feel like an idiot. How did I Well, I'm not familiar with the lyrics, as I said to do what it went over my head? Interested to know if the listeners, If it went over the listeners, if you want to for your head, please let me know because I'm feeling a little bit insecure right now. I didn't pick up Michael's joke, but if you've got it, let me know as well, because mate, it will mean that I will pay more attention to Michael like.

This was two years ago. Clearly, I've held on to this for quite some time. I'm glad I've been able to let it go. I'm sorry for taking up so much time. A list of seven things here to help you afford a nice Christmas. Number one set a Christmas budget.

Yes, look, start figuring out what is a realistic budget for Christmas? That you can afford, most importantly without getting into debt. So look at gifts, you've got to buy, food, you've got to get you know, decorations, the festivities. And once you've come up with that figure of as to what you can afford without having to borrow that money, do your absolute best to stick to it. And we'll give you a whole pile of different ideas in a moment.

So avoiding debt, avoid debt.

The amount of people that start the new year off with a financial hangover from Christmas is huge. You do not want to become a strategic because then you start the year off constantly chasing your tail financially, and it's before you know it, it's July and you're still trying to pay off that debt from Christmas, and before you know it, Christmas is back again.

Okay, So that's a fairly straightforward one to sit down, figure out what it is that you're going to need, how much it's going to cost, and how much you can afford to spend. Yes, and it's not too late to do that, is it?

No, not at all.

I like that. You're making me feel better.

And look, you may have to come up with a couple of sacrifices to help come up with that money. But you know, by looking at your budget, you'll be able to do that.

I had a number two on our list. I had so many list related jokes that I was going to make today, just like all of my material is wasted. Number two is prioritizing gifts with impact. So we mentioned kind of gifts being part of the budget as you're going through. They don't need to cost a fortune, do they? Because you can make these gifts have more sentimental value than actual financial value.

Exactly, things that are homemade, you know, they don't have to cost a fortune. One of the best Mother's Day gifts I got from Tom was a video he got the kids to He made a video with all of himself and the kids talking to me. It was it was the most beautiful thing. Like it was. I even have tears just thinking it. Of course, that costs absolutely nothing to shot on his phone, and it was amazing that Tom actually managed to put together the video because he's like technolologically challenged, particularly with a phone.

You're talking about something that really touched you, and he managed to sneak in a technical.

No, Tom, you know that he dishes it out to me twenty four to seven. So look and so get creative, you know, make something, or it can be an active service, you know, writing someone a poem or a letter. Those are really priceless, valuable things that not only are appreciated, but there's something you can hold on to and they solidify the bond and the connection and the relationship you have with that person. So you know, think about photo albums and maybe you could restore someone's photo album or put together a photo album, or you could you know, make a video like Tom did these, or you could you say okay, right the first month, the first Tuesday of every month, like when you know, when we record, you could say, okay, well I'm going to come over and clean your house, or I'm going to do an hours with the laundry, or I've spoken about previously. You know, if you've got a friend that's got kids, go you know what my Christmas present to you is two hours a month of babysitting or three hours a fortnight of babysitting. Those things are really appreciated and really kind and really thoughtful rather than just another scented candle. Don't get me wrong, I love a cented candle if you think you've given me one, but they are really lovely, kind, thoughtful gifts.

Can I ask you though, on this? Should you talk to the recipient, say, as family members say it's extended family members, that you're going to be giving this too. Should you give people their heads up that, hey, this year, I'm doing something a little bit different. I want to give everybody gifts with meaning rather than just because. Otherwise, if you have written, say a poem or something like that, or given them a voucher for babysitting and things like this, and they've gone and spent like two hundred dollars on scented candles, it's going to be a little bit awkward, isn't it.

I think communication is key and there is no shame by saying, hey, I'm going a really tight budget or I'm working towards this really important financial goal of mine. Do you mind if we go down this creative path of you know, trying to come up with financially friendly ways to celebrate Christmas? If that berson really loves you on conditioning, they will embrace them and they'll say yes, of course. And I've said this before. Sometimes that breaking of the ices and owning it and saying, you know what, things are tight? Do you mind if we do this?

Everyone just goes yes, thank god. Yeah, someone said that someone else has actually raised this because it probably at the moment everyone is in the same boat exactly in terms of communication with everyone. This brings us neatly onto number three on our list about communicating a gift system, a secret center, perhaps with family, and especially if you do a lot of presents with extended family, then a financially friendly way to do it is to do a secret center, isn't it where you are only buying a gift for one person and everyone then gets one kind of meaningful gift as opposed to twenty gifts that are just kind of bought en mass and so.

Much ends up in landfill. You know, there's so much just you've just token gifts that that person doesn't really want. I have to say, I can you share with everyone what your family does around secret sanator, because I think it's not only brilliant for Christmas time, but also throughout the year when it comes to birthdays and so forth.

You know what this means so much that you have remembered something that I have said to you.

I love it. I think it's really clever.

So when we discuss our secret center, which takes place, well, it took place a week ago, so kind of mid November, we do this, and everyone kind of is allocated who they're going to be buying for, but no one knows kind of who it is, etc. Everyone sends into one big kind of group messaging chat their wish lists and so they will put together kind of five six, seven, eight things that they would love that kind of fit within the budget, whatever the budget is set at. And so you can stick to that list or you can go to something else altogether, but at least you've got ideas, and you know what the best part is that then you've got ideas for what that person really, really really wants, and that then covers you for Christmas, it covers you for birthdays, it covers you for any other special occasion through the year, and they include links to what they would love and all this. And sure, the first time you do it can be a little bit awkward because it feels like you're just saying, hey, buy me this. But if you're just putting it out there is half a dozen different gift ideas and it sets you up for the entire year, and it means that you are getting exactly what that person wants, and typically it's something that they will not have bought for themselves, because it might be a little bit frivolous, it might be a little bit fancy, a little bit nice, and they are just focusing on the essentials, and that is what we do. I I love it.

I think it's absolutely brilliant.

I'm so glad that I'm genuinely touched. As you have remembered, you didn't get my my Santa list jokes, but you got that, and I think all is forgiven now that you have. Indeed, all right, we are at number three on our list. We'll take a very quick break and come back and do items four, five, six, and seven, which I probably didn't need to spell out. I mean we said it's a seven item list. Most people are able to figure out what's left. We'll come back and do those in a second cana. We are talking all things Christmas today, and I really did miss an opportunity to wear a Christmas shirt. Didn't know.

I was looking forward to seeing that delightful reindeer, lovely colorful shirt of yours always styled in the same way with a T shirt underneath them.

It's my it's my capsule wardrobe.

It's your signature style.

That's right. Are you taught me about this about just buy several things and just just stick with it? Yeah, indeed I do, and I ignore the judgment. Item number four on our list of things to help you afford a nice Christmas it is shop smart And look we are what two days out from the Black Friday sales? Now is the time to be doing your shopping right?

Yes, so you know, you know what, there is a sale on I think every three point five weeks. There's just there's constant sales. Do not pay full price, you don't need to, but you know shop smart, so use you know, cash reward, shop back, you know, buy things on sale, create a wish list. You can also use absolutely you know when things have gone on sale or they're potentially low in stock. Be strategic when you're shopping so you can make the most of those sales. The rewards programs. I know a lot of people who love their Conscious Frequent Flyer points and they will redeem them to all of their Christmas shopping. Then you know you mentioned obviously black Friday, and there's the other one that's.

After Black Fridays, Cyber Monday.

Cyber Monday, and you know, so many times with so many websites, you sign up to their newsletter and you get ten percent off your first order. You know, that is a great way of saving money or getting free shipping and whatever the offer may be. And do your research online like planning and preparation is key. You know, search where is the best place to buy it? You know, and what you know shipping and how long it will take to a rhyme. You know, look for those deals and again, don't forget to stick to your list. You know what your budget is because obviously this is going to help reduce the risk or the likelihood of those impulsive buys that don't fit in the budget. Or what I am actually guilty of is thinking, oh my gosh, I've left this to last minute, so I try and out of my own guilt, I will overcompensate by buying a little extra present in there for that person.

Oh dear, well, I'm very proud of myself because three weeks ago I bought a Christmas present for Shan because because the business emailed me a twenty dollars Voutcher saying you haven't seen you for a while. Here's twenty dollars to spend, and so I'm.

Well, that's being strategic.

I can sit down by twenty dollars the cost of the cost of the item. So I bought it. I just like you know what, that's thinking ahead.

See the guilty person. We would then go and go will life to use that twenty dollars to buy something twenty dollars extra.

You are the queen of frugal.

How on earth I'm not frugal. I'm mindful. That's yeah, that's a huge misunderstanding.

Well, it's a misunderstanding that you brought on yourself with your with your commitment to frugal February. Yes, but then you changed it to frugal fruitful February, and then you drop the frugal entirely, and it just became fruitful February. It was a full brand change, that's what it was.

Look, it's one of those things. It's like a growth on my back. It's unfortunately there. It's been there for a while. I can't get rid of it. I have to kind of commit to the treatment of it.

A barnacle the Barnacle.

That's why I flourished with manifesting March.

Back to this, Manifesting March is your redemption after frugal February. Okay, shop smart that's number four and number five is all about food. And we mentioned food is one of the things that's one of the big expenses. Isn't it a Christmas because everything is so especially if you're getting into things like your seafood and your prawns and that. But even just get your Christmas ham. All these things are really really dear. How do you get the cost down?

So the key is to actually divide and conquer. Don't try and be a mart you know, put together a list of what you need and then say all right you can you this person bring a bottle and a salad, and this person can you do the bread and you know, the cheese platter. Make sure you distribute the responsibility and share the load. Also think about the nonperishables though, that in the meantime that you can buy when they do go on sale. You know, I am. I love my Woolworths everyday rewards. I've been saving up my Christmas bank, I think they call it, or Christmas where you can save up your rewards so that by the end of the year you have two three hundred dollars saved up. That's also a great time to use this to help save money so you can put on obviously a fantastic spread that doesn't actually get you into debt. And you know, invite everyone to contribute in some forms, even if it means the decorations or even taking just the stress off your own shoulders. Particular, if you're hosting it, someone's going to organize the playlist of the music. You know, you all look to help lower the cost and share the load. And the earlier you can have these conversations, the better. There's nothing worse than literally you're on your way heading over that person's house and they call you in the car saying, hey, would you mind just grabbing a couple of walls of champagne? Like that's something you would like to have known in advance, so you could have bought online or shopped around for a better deal rather than grabbing going to the nearest, possibly expensive bottle shop nearby, so you know, get on top of it sooner rather than later.

A couple of years ago we did Christmas in a park instead of being at anybody's house, and so like all the family just descended on this park with a great playground and everything for the kids, which is great, except it was about two hundred degrees that day and everyone's just sitting there. This is so uncomfortably hot. And so I don't know whether I'm actually suggesting that as something that you should do or should avoid. Just be just be mindful. I do like that idea. It's nice. It just suddenly means that one person isn't stuck with you talk about divide and conquer. This means that everyone is an equal contributor. There is not one person that is carrying the burden of the entire thing and hosting and making sure that everything is clean, and they've got the stress of preparing the house for Christmas day. Everyone just descends on one neutral place. It could be a beach or a park or I don't can't actually think of a third place, like a nice median strip somewhere the forest. Yes, that's probably safer than a median strip.

It also makes it easy for the person like cleaning up, not just preparing that. But you know, everyone takes their whatever they turned up with, and every there's no trace anyway.

So that's that is an idea. That's like item kind of five point five on the list. I'm adding it in there as a little bonus item. Courtesy of Michael Thompson. There you go, Number six. Make Christmas about experiences not objects. I quite like this idea.

Oh yes, so Christmas movies, you know, creating memories. So I've had a complete mental blank. But it's that family really, it's like a seventies or eighties this is going to be family, funny Christmas.

I'm not going to help you. Oh what is it? Oh that's so mean. So it's a Christmas movie from the seventies.

The chase, isn't it?

Ah? Yes, go on, you got this. No, I don't national lampog Christmas vacations.

There you go like watching that every year as a family. Or my one of my best friends.

One of the all time great Christmas movies.

And then my other girlfriend they sit down every year and watch Love Actually.

Oh yeah, absolutely, that's the Christmas Eve movie. It's not just.

Gogeous having those things. What we've recently discovered in our neighborhood is there about four or five streets where everybody decorates their house in Christmas lights, and we started this traditional receive. It's not really a condition yet. I'm sort of jumping the gun here a bit, but you know, walking with the kids to see all these amazing decorations, and how everyone comes out of their house and walks these four or five streets together and we.

Go one better. We do the same, we do Christmas Eve, same thing. Christmas Eve has become like a big tradition where we have kind of we have prawns on kind of whitebread rolls, and then we go out with the kids and we have our bikes, right, and we have Christmas lights that we have strung all over our bikes, batterly operated ones and so they kind of go across the handlebars and go down and kind of the things and so everyone can see you coming. It's really cool. It is great. It is great. It's like a mobile Christmas display and we ride around our neighborhood and check out all the Christmas lights. And it has become the thing that we do now on Christmas. And it is a bad experiences. I can't like, you don't remember the gifts necessarily that you get, but you remember those things.

And like the kids love decorating the Christmas tree. Oh yeah, it's so much fun pulling it out. Even my kids are you know, the box of decorations is ready to be unleashed and let the kids go nuts and decorate and put all these weird things in all different weird spots around the houspit. That's the stuff that creates those really important bonds.

Can I recommend one other Christmas movie for kids? Right? It's a fairly recent ish one, but we watch a lot of Christmas movies and a new one that we keep coming back to every year is called Arthur Christmas.

Said.

It's animated and it is really really fun, Like it is just a really good one to watch with kids of all ages. It is clever, it is fun, it is just very Christmas y. So just pop it on the list and I guarantee you will forget the name based on past history. You already have. It's called Artha Arthur Christmas.

Okay, Arthur Christmas? Why kids love watching together? Loudhouse?

Oh? Yes? Yeah?

Do you like card House?

Yeses? Yes? Is there a Christmas theme episode it.

I just began. Its about creating memories, like I watch it with my kids because sometimes I find, you know, Coco Melon, a little bit mine numbing. Yes, this one loudhouse. I can actually see David and Joy and you know, snuggle on the sofa with my kids.

And that's what it's about, isn't It is about those experiences? Number seven? What was the name of the movie that I just suggested to you to test.

Arthur Christmas?

Oh, well done? And what was the name of the movie that you tried to recommend to me and forgot?

National Lampoon's Christmas Vacation?

Ten out of ten? That is amazing, well played. And what was the name of the Christmas song that I started by quoting and you didn't know the the lyricus santacause going to Oh my god, you are nailing this. That's three from three well played. Last one. I have number seven start early for next This isn't really going to help you this year, but it will mean that you have a fantastic Christmas next well.

As you once recommended as a great budgeting tip was to buy the Christmas wrapping paper in the sales. And I laughed in your face and was not particularly nice, but that is definitely a very valuable suggestion. Of course, myself and I'm not gonna completely contradict myself by saying I am not frugal but mindful. But he's obviously saving the wrapping paper.

You know, you need to watch kids.

No, don't wrap like that, just just peel the sticky tape. That's the way of saving money and of course reducing landfill and the thinking of our important, beautiful planet, and of course buying wrapping paper that's brown, because you can buy large amounts of that which does wrap and look beautiful with some you know, Australian native flowers for decorations.

I love that this is the same person. So I'm not fragales ago.

Well, I can be create. I'm selectively frugill in a creative manner. But you know, start thinking in advance about what you want to buy. If you see something you think, gosh, that's a beautiful gift that would be that person would really love it, you know, don't be don't hold back and potentially buying it earlier in the year, because your future self will think.

Oh, how about a great tip that I heard right from some friends who love Christmas and love Christmas decorations. You go into you know, how have like Christmas shops that pop up kind of six weeks before Christmas. Go in there on the last day when they are closing, and they close like kind of like a week after Christmas, when they're just kind of they've had a big sell out of all of it. Go in on the last day in the last hour of trade, and sometimes you can actually just buy the entire tree with every decoration that's on it, just because they don't want to pack it up and don't want to take it and.

They don't want to pay for storage for the next twelve months.

Exactly, and you can get like a bargain that's twenty percent of what it should have been. Wow, isn't that amazing? So now, of course, like there's going to be a flood of people just waiting outside for that final hour of sales. All right, that's a good list. Seven items. Set a Christmas budget, prioritize gifts with impact, implement a secret Santa system with family and friends, shop smart food, get everybody contributing, make Christmas about experiences, and then start early for next year. I feel like I feel like I don't want to go off. I feel like we've just saved Christmas.

Canna Okay, all Right?

Am I overreaching with this?

Don't know that you're my hero? You're not, by the way, but I just don't you think that, Like, really, come on, this is coming from the person who said to buy Christmas wrapping paper after Christmas. I don't think we're saving Christmas.

Where is your Christmas spirit? You just started singing that I'm your hero and then told me you're not. Actually, thank you, Steve.

If I start singing to you, it does not mean you.

Are my hero. Where can we find you? If we want more information?

Always feel free to reach out to me on Instagram at sugam on my TV and.

You can hear me every day with Sean Aylmer on Fear and Greed, daily business news for people who make their own decisions. Thank you for listening to how to they afford that. Remember to hit follow on the podcast and the very best thing you can do is tell somebody else or send them this exact episode and help them have a merry Christmas as well. Thank you very much for your company. Join us again next week

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