If you’re part of a big family, it might be worth looking at the way you handle gift-giving. “In my family, we do a Kris Kringle, that means that you spend a bit more but only on one person. It makes the whole budgeting system easier, because you’re not trying to keep a total of how much you’ve spent on presents for eight different people,” Mark says.
There are also strategies you can employ to get the best price on gifts. Price match in-store with online retailers, be patient and wait for sales, or look for bulk discounts and two-for-one offers. Forward planning can pay dividends as well. “When it comes to presents for the kids from Santa – start early and buy through the year,” Mark suggests. “Pre-buying means that come Christmas time half the shopping is done and paid for.”