Keeping your spending under control this Christmas

December is expensive. Fact. Reports suggest that the average seasonal spend racks up to £414, and that's just on gifts! But keeping a lid on your festive finances doesn't have to mean a Scrooge's Christmas. Here are our favourite tips for keeping the cost manageable.

1) Avoid the temptation of credit cards

Tempting it may be to simply whack all your purchases on credit, but come the New Year you'll rue the day you maxed the plastic. The only time you should use a credit card for Christmas purchases is when you know for sure that you'll be able to pay off the balance before the interest starts racking up. If you can't do that, then stay away, unless you're prepared to deal with the consequences next month.

2) What's the point of your present?

Who are you buying for, and why? If you're only buying a gift to reciprocate a gift that's been given to you, or if you're spending top-dollar on a present because you know the recipient has expensive taste, then you need to re-examine your gift-giving intentions. You'd be surprised at the number of people that would welcome a gift cost limit, or even a mutual exchange of no gifts at all!

3) Be firm with your personal gift guidelines

Especially if you're a parent. Consider setting a specific amount for each child or recipient, or a number of gifts per child. Teaching your child that it's the thought that counts can help to prevent 'keeping up with the Jones's' syndrome, too.

4) Keep track of your spending

Sounds simple, no? But how often have you gotten carried away at the till with impulse buys or a last-minute dash around a shop on Christmas Eve? Make a list in advance and stick to it, noting the cost of each purchase so you can see how the overall sum is mounting up!

5) Get creative

The best way to save money on gifts is to not spend any money on them at all! The idea of making gifts gets bandied around a lot, but if you have a skill, put it to good use! Make sweet treats for friends, or knit a thick cosy scarf for a relative, if you can. If you're good with computers, offer to make a website for your less tech-savvy aunty, or if you're a whizz with a sewing machine, whip up a must-have accessory for a younger cousin. The time and effort put into gifts like this is worth far more than the price tag on a present in a department store.