How can you deal with financial pressures during Christmas?

Ailsa Adam December 22, 2022

Holiday Cheers and festivities are part of Christmas every year. Buying gifts is a ritual when it comes to this cheerful time. Still, many people find it difficult as they are going through financial difficulty.

Instead of staying happy and keeping calm, they get anxious. It is advisable not to lose your peace of mind and utilize the resources that you have.

Post-pandemic, many things have changed. It also brought changes in the way people celebrate their festivals.

With Covid-19 coming to an end, things have changed. Mainly since the employment status has gone for a toss. Hence, this has led to financial pressures on people.

The financial pressure on individuals

According to a study, individuals who are under 34 years are getting more anxious as they are losing their jobs due to business shutdowns.

Previously they were spending around 20 to 25% of their income on celebrating Christmas. Now they are only able to spend only 5%. Most of them also need help to do this much as they have no jobs.

They are not able to make way for the necessities also. Out of all things, borrowing has become a fancy post-pandemic.

Therefore, most individuals without a job are moving in that direction. Options such as loans for people on benefits from direct lenders are available in the UK. With these loans, people have got hope to manage their financial problems.

The pandemic has taught us a lesson to remain on alert. The economies are fragile and prone to unexpected situations. Dealing with financial pressures does not require any guidelines or tactics.

The research from National Debtline shows that 7% of adults feel this pressure and make their Christmas less enjoyable, and 3.5% of people become insomniacs due to this constant pressure.

Tips for coping with financial stress during Christmas

Celebrate your Christmas and make way for a happy time with these below-mentioned points.

1. Create a Budget

Budgeting is essential at any time of the year. Especially during Christmas, it becomes crucial to every individual. There is a big difference when you budget your money and spend it accordingly.

Every household has a specific budget set according to which they celebrate the festival. For example, suppose an individual earns X amount. In that case, the budget is by setting a small amount for the decoration, then putting some amount into the food and the remaining into the party.

Without a budget, things can go haywire. Sometimes it leads to overspending as well. Since it’s the last minute preparations, you tend to make everything perfect and do not care about the money.

When budgeting to your expenses, you set a line to every aspect. If a holiday needs to be looked at, you may wish to save some money during your festival for your plans.

This is only possible when you are budgeting  your money. For this, communication plays an essential role. You must communicate this with your family members to be able to save your money.

Hence, be realistic and pragmatic in your approach and involve everybody. Children are no exception. Try to include children also in your financial strategies.

2. Cut overspending and avoid Credit Card\97

While spending money, be practical towards it. Sometimes you may not realize how much unnecessary money you are spending. The money that is seen can usually be avoided.

This is why it is advisable not to use your credit cards. With credit cards, people do not see the money they are spending and overspend every time.

This happens mainly at the time of Christmas. All around the corner, there are festivities and happiness. Individuals tend to go with the flow and spend a lot of money.

Do not do this. Try to compensate by preparing your festival in advance. If you cannot collect material possessions in advance, go with creative ideas.

Try to plan DIY things, saving you money once the festival comes. You cannot put all your money in the black hole because of social pressure.

Whatever is necessary should be done. But if it’s not relevant, refrain from it.

3. Benefit from seasonal deals

Take benefit of the ongoing deals during this festival. Most of the websites and vendors offer a good range of discounts and vouchers.

Try to find such vendors. If you are not able to do so, browse different offers. For this, the comparison is the best way. Make a practical comparison between two websites or vendors to get the best deal.

Many people are emotionally drained out while shopping and cannot differentiate between overspending and spending. You have to be sensible and calm while shopping.

This applies not only to saving money but also to availing of loans. Some people, who need loans, just go to one lender. On the other hand, always find a lender after making the proper comparison. This holds especially in the case of pound 10000 money loans for bad credit.

Availing of loans is easy, but it is easier when you contact a reliable lender. Make sure it is from the best and most authentic source whenever you are availing of loans despite having poor credit issues.

4. Be creative in gifting

Gifts can be of any shape and size. Ideally, they should not be compared to their tangible value.

Do not take too much pressure to think of different gift ideas. Be creative in your way. If your family and loved ones love you, they will value every gift given to you.

Try to get things that are value for money. This way, the other person will not forget you and will value you more for your creativity.


Christmas is a festival wherein people forget all their worries and sorrows and celebrate it with joy.

Irrespective of the nature of your worry, find solutions and move on. Life is too short of taking stress and worries. Instead, be happy and lead your life to the fullest. This does not mean that you will not cater to your problems. It means catering to your problems in the best possible way and simultaneously enjoying your life.

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