Hidden costs of Christmas
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It’s not just the costs of buying Christmas presents that can leave a hole in your pocket – everything from sending cards to buying food and drink can run up a hefty bill. Brian Geraghty, accountant and financial advisor of Phelan Prescott Co. with almost 27 years of experience, reveals the best ways to cut down on the hidden costs of those festive perks
ast Christmas, only 29 per cent of Irish consumers felt positive about their financial situation ahead of Christmas, with families looking at spending an average of ¤600 over the holidays. Banish any festive financial worries you may have this year with these useful tips.
essentials,” says Brian. “Prioritise what you really want and drop some items from the bottom of the list if you need to. “For those who are hosting dinner parties, encourage every adult attending to make something for the dinner. This will share the cost and take the pressure off you in the kitchen!”
Five-star Christmas dinner
Thought that counts
Brian recommends buying the essentials first, such as vegetables and turkey, then keeping an open eye for the best offers on indulgent food. “Work out a rough budget for what you need and cut it back for non-
“Put a limit on the amount you spend on presents,” says Brian. “For families with older kids, you could do secret Santa (Kris Kindle), everyone buys a present within the price limit for one relative or friend.”
For the more creative in your family, homemade presents add an extra special touch. Paintings, flower window boxes, promise vouchers for breakfast in bed or doing the cleaning on Christmas day, it’s the thought that truly counts!
Make a list, check it twice
“Before doing the Christmas food shop, prepare a list in advance and stick to it,” says Brian. “Plan ahead and shop online or in-store, rather than leaving it too late.” It’s always a good idea to be familiar with special offers and items you need before you start filling the trolley. So
5 tips for a stress-free Christmas
As well as being a joyous time of the year, Christmas can also be one of the most stressful. Here, we show you how to cut down on the chaos, and trim back for a relaxing festive season
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hristmas in many homes is the highlight of the year, but for some people it can be a tough time and the hustle and bustle of the period can be overwhelming for many. Regular weekly routines become busier, as shopping, baking, entertaining and heightened expectations can contribute to stress. Here are 5 ways you can make your Christmas special and hassle-free.
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Helping others is helping yourself
Don’t forget about those who are spending time alone this Christmas. Last Christmas 17,000 older Irish people were living alone, making them vulnerable to isolation. Consider volunteering, doing community work or checking in on your neighbour for a chat over a cup of tea. Helping others has been proven to boost your happiness levels. Researchers have conducted experiments in which people were asked about their happiness before and after they had participated in a charitable activity. The result was clear that giving has a strong, positive impact on our happiness!
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Count your blessings
Christmas is a time of love, forgiveness, second chances and starting anew. Christmas enables us to pause in our whirlwind life and reflect on the significant events we all experienced throughout the year, both good and bad. Understand that the best part doesn’t need to be all the merry-
making, the decorations or even the presents. It’s the time with family that truly makes Christmas what it is - a time of joyous celebration.
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Take care of yourself
It’s very easy to slip up with your exercise schedule over Christmas when there are other things running through your mind. But getting some fresh air and keeping active during Christmas is not only a good way to burn away any extra calories consumed, but is also excellent for your well-being. Science says that exercise can ease your stress levels and help you to relax. Clear your mind by taking a brisk walk or cycle through the local park - time invested in revitalising yourself is never a waste!
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Avoid excessive alcohol
If you like to enjoy a glass of wine or two over the Christmas, make sure not to overindulge as alcohol consumption may actually increase your stress levels. Excessive alcohol consumption can leave you feeling dehydrated and studies have shown that being dehydrated can increase levels of the stress hormone, cortisol. Research shows that your body is composed of roughly 60 per cent water. That means when we are dehydrated, some of our performances are affected. It is recommended that everyone should drink half their bodyweight in ounces of water. So, if you weigh 160lbs, you should drink approximately 2 litres of water. Do enjoy a glass of wine over the festive period, but drink more water to think clearer and feel happier.
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Take time to unwind
During the mayhem of Christmas parties and shopping trips, it’s important to enjoy some peace and quiet every so often. Hold onto your daily rituals – if you like to read for a half an hour before bedtime, don’t give it up in favour of a holiday chore. Pencil in a few personal hours, or even days, to your schedule. Solidifying plans will ensure you get some much-needed downtime. Book tickets to an afternoon movie or make an appointment for a trip to the spa. Now all you need is a mince pie, a cup of something mulled and you’re all set for a peaceful, festive season!
walk the aisles first, go for a coffee, write your list, then go back and start shopping. “Take out enough cash for what you need to purchase and leave your card at home,” says Brian. “But make sure to store the cash in a safe place as you browse.”
Party on
Enjoying a drink at a friend’s house before a night out has become very popular and is a great social occasion at a fraction of the price of going to pub. “Consider sharing a bottle of wine with a friend as this can be a lot cheaper than expensive spirits,” advises Brian. “Only bring the cash you intend to spend with you and try to plan taxi rides. This will share the cost among as many people as possible and also ensure you get home safe and sound.”
Fight the Christmas debt hangover If you do end up overstepping your budget, there are ways you can help your wallet to recover. “Avoid going out for the following months and try some free outdoor pursuits instead to shed any extra pounds added over Christmas,” says Brian. “Take time to document how much you spent and where, and then look into the financial assistance options available for you, such as MABS (Money Advice and Budgeting Service).” Once this year’s Christmas spending has been taken care of, set up a savings plan so you can look forward to the coming holiday season and avoid any post-holiday debt hangovers!
Choose to live a little
Irish Independent | 3