THE money TIP
The festive season can be an expensive time of the year, particularly if your family and friends expect gifts. If you can’t persuade them to donate some money to charity instead of doing the usual gift exchange, there are ways you can ensure that you don’t spend too much.
Rita Cool, a financial planner at Alexander Forbes Financial Planning Consultants, says: “Ask people what they would like so you don’t waste money on something that will not be appreciated. For family, negotiate when it comes to bigger gifts by giving jointly for the festive season as well as a birthday.
“Look for discounts on bulk items that can be split up and repackaged for individuals. Three for the price of two discounts are common leading up to the festive season.
“Big bags of sweets or cookies or soaps can be repackaged to become individual gifts in new baskets or glass bottles, also purchased in bulk.
“For teachers’ gifts, ask around and club together to buy a voucher. Teachers love this because they can choose what they want,” Cool says.
And if you want to save more money for next year’s Christmas, buy presents during the year when they are on sale.