Festive financial stress, and how to take control

You might know that feeling of worry, guilt, or dread when you check your bank balance and wonder how you’ll afford gifts, food, or travel over the holiday season. It’s about emotions as much as dollars. Sales, social media, and family traditions can all add up to – well, adding up to more than you intended.

Many of us spend more than we can afford because we want to show our love, hoping the right present will say what words can’t. Sometimes, it’s about avoiding awkward chats. Saying “I can’t afford it” can feel embarrassing. You might worry about letting people down or feel pressure to keep up.

Christmas also comes with hidden expenses that can catch you by surprise, like postage for cards and gifts, wrapping paper, extra groceries and snacks for visitors, travel and petrol for family catchups, or pet-sitting if you’re heading away. You might also have the expectation of social events or charity donations. Added to that, there’s often bigger utility bills from more cooking and decorations like Christmas lights.

It’s common to use credit, buy-now-pay-later, or dip into savings just to get through. But you don’t have to start the new year with more money worries. Planning ahead can help you avoid surprises, and most importantly, it’s OK to set limits that work for you.

If you’re feeling pressure to buy for everyone, you’re probably not the only one. You can start to get more control over how Christmas spending goes by talking with someone in your family or friend group who might be open to new ideas. You don’t have to make it all about money. Share ideas as new traditions or fun ways to celebrate together. 

Focusing on what brings you closer together, not what’s spent, makes the conversation easier. Others might feel the same way but haven’t known how to say it.