So…can we afford Christmas?
Normally at this time we would all be gung ho….. about to sit prelims…… getting a list on the fridge of things we’d like…. partying here, there and everywhere. But this year there’s just been a bit of a reality check for us all. Covid has arrived! So how are we going to approach Christmas this year, particularly the costs, bearing in mind we might not have the funds to do so?
Many young people (and their parents) at this time of year used to be in jobs or part-time jobs outwith school or further education which now may not be the case. The job may have gone, we might be furloughed, or we’re just hanging about waiting to see what happens next? So how are we going to be able to splash the cash on everyone this year for gifts? Well perhaps now is the chance to take stock, sit back and have a rethink about if we’ve actually got the cash to splash! Has that income dried up? There’s no point in us getting into debt just to keep up the pretence that we’re absolutely minted and can’t wait to buy everyone gifts at Christmas as normal. Give it a miss this year! If everyone is in the same boat why should we feel guilty about it?
Is it time to get that text out, that Whatsapp (or even a phone call if you still do stuff like that….), and just say…. No?
One of the biggest worries we see as adults, are those who’ve got into debt and can’t find a way out. And here we are, when times are tough enough, still thinking of doing it over Christmas. If we decide to carry on, buy the mountain of gifts, and end up with a massive overdraft or owing money to friends and family, how will it make you feel come the New Year? It’s perhaps time for us, and our parents, to say ‘no’. You’ll find that everyone will probably appreciate the fact that you can’t exchange gifts this year and maybe that’s something you carry on for the future?
Of course you could be really clever and artistic and make a handmade gift for under a fiver………. but for those of us with no artistic streak, just man up and say, ‘sorry everyone, just can’t afford it this year’. Don’t feel you have to explain, people will know the situation is dire, we’re all under Covid restrictions, you’ve not been able to earn etc etc …..
However…… if we do go down that rickety road of carrying on like normal, splashing out on your nearest and dearest, and find in January that things are even tighter, then follow our advice and recover the situation. Have a look at our website https://www.sifet.org.uk/my-money-moving-on/ and check out ‘for those in debt’. You’re moving into the big wide world and you don’t want a debt to hamper you in the future from buying a car, renting a flat, heading on holiday. Take the steps you can to reduce it, or better still, just don’t put yourself in that position.
Enjoy Christmas. Keep safe and keep solvent!