Six Christmas budgeting tips to stop you overspending during cost of living crisis

dailyrecord.co.uk:

The festive season is rapidly approaching and as we enter the first full week of December many households will be starting to plan their spending over Christmas and New Year while taking into account the ongoing cost of living crisis which is having a huge impact on the prices of everyday food items at the supermarket.

According to the latest data, 39 per cent of people across the UK plan to spend much less on Christmas than in previous years, reducing socialising and travelling during the festive fortnight compared to 2021.

Independent finance broker, Norton Finance, estimates that 16 per cent of December spending goes towards food, 19 per cent on seasonal decorations and 65 per cent on gifts.

With such a large percentage of spending going towards buying presents for loved ones, friends, neighbours and work colleagues, Norton Finance has created a budgeting guide to help everyone tackle this traditionally expensive period.