As we get further into December, many of us start to feel that we’re losing control of our finances.
From spiralling food and drink costs, non-stop socialising and taking the children to festive experiences to trips to your local city to see the lights, our credit cards can take a beating. And that’s all before you’ve started buying presents for your friends, family and colleagues. For those who haven’t spent months saving up for Christmas or haven’t decided on a strict gifting budget, it’s all too easy to panic, throw caution to the wind, spend too much and enter the new year feeling anxious and stressed about money.
Fortunately, there are easy ways to help curb spending, cut financial leaks and take control of our finances. Laura Linden, a chief financial officer and author of UnF*ck Your Business Finances: Unlearn the Shame, Reclaim the Power and Change the Game, advises using two rules when you’re shopping for presents. “Consider this the first step to taking control of your finances by forming better habits and changing your money mindset. These are part of setting you up for success in 2026,” says Laura.
The ROI (return on investment) test
Ask yourself if the present you’re buying will give a return on joy to the recipient. “Before you spend on a gift, ask yourself if this will bring real pleasure to the recipient. If not, is it worth the money?“ says Laura. “This ‘return on joy’ test helps you prioritise giving that has meaning.”
Five minute rule
When you’re hunting for gifts, build in an important pause before handing over your credit card or pressing ‘buy’ online. “If you’re online shopping, place the item in the basket and then do something else for five minutes,” she says. “If you’re in a physical shop, take a picture of the item and the price tag but then walk away for five minutes.
“Then before buying, ask yourself, is there a less expensive alternative? And make sure you’re not falling victim to the trap of ‘nice person spending’ – pouring more money that you intended into presents because you want to get the ‘perfect’ gift. Generosity is a lovely trait but not if it’s causing you financial hardship behind the scenes. This is about having boundaries, being confident in saying no or not putting your hand in your pocket first,” she says.
“If you still think the items are reasonably priced, and you believe they’ll bring joy to the recipient, go ahead and purchase, feeling confident that you’ve made a good decision.
Find gifts that feel expensive but are just £5
Treat your loved-ones and stay well within your budget: Famed 19th century artist and designer William Morris said, “Have nothing in your houses that you do not know to be useful, or believe to be beautiful”. Let this be your guiding philosophy when you’re picking up presents this year – give loved ones something that feels expensive, and that will be a pleasure for them to actually use – and not extra clutter they’ll have to take to the charity shop in 2026.
Source: Mirror
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