Learning from the Ghost of Christmas Future

Learning from the Ghost of Christmas Future

In Charles Dickens’ classic festive story “A Christmas Carol”, the spendthrift Ebenezer Scrooge is visited late on Christmas eve by the ghosts of Christmas Past, Christmas Present and Christmas Future. These festive specters endeavor to show Scrooge the error of his ways and (spoiler alert) he wakes on Christmas morning a changed man; full of festive spirit and peace and goodwill to all men.

Unlike Scrooge, most of us need no reminder of the happy Christmases we have had in the past or the very different Christmases of the last two years because of the pandemic. With Christmas almost upon us, we also need no reminder of the things we need to get done before this year’s festivities can commence. However, there are certainly some lessons we can learn when it comes to thinking about Christmases of the future.

The thing about Christmas is that it does come around every year like clockwork. Unlike Easter, it is always the same date and, with it being steeped in tradition for many families, we often know what we will be doing, and who we will be doing it with, well in advance.

Nonetheless, Christmas still tends to catch many of us out each year, especially when it comes to paying for it. As calendars tick over to December, we suddenly realize that we have a sack-load of gifts and food to buy in preparation for our Christmas celebrations and, maybe, travel to book. In most cases, this additional cost either eats up the bulk of our December budget or we put it on a credit card to worry about in the New Year.

So why not channel Charles Dickens’ Ghost of Christmas Future and look ahead to Christmases yet to come? We’re not suggesting you start Christmas shopping for 2023 before Christmas 2022 is out of the way – that would be crazy! However, if you consider that across Europe the average household spends around €600 extra on Christmas each year, then it does make sense to plan ahead.

If you have a monthly budget, build into it an amount you put aside each month towards Christmas – in the same way you would budget for a summer holiday, or other less exciting annual costs you know will arise. The thing about saving for things well in advance is that savings can gradually accumulate without too much impact on your day-to-day life. Even putting €5 a week into “Christmas Savings” can make a massive difference when it comes to paying for the next Christmas.

There are also other ways you can make future Christmases less damaging to your December and January finances. Rather than waiting until December to buy Christmas gifts (and possibly spending more than you intended because of a combination of panic and expert retail marketing!), consider buying things that will make good Christmas gifts throughout the year. This helps spread the cost of Christmas and, if you always give Uncle George a bottle of Cognac, then there really is no reason to wait until December to buy it. Also, if you know you will be travelling to stay with relatives at Christmas, book your travel early as prices often increase the closer you get to Christmas. Also, if you can face a trip to the shops after Christmas, you can make fantastic savings on “all things Christmas” in January, when the price of gift wrap, Christmas cards, and Christmas decorations are often heavily discounted.

Christmas is a fantastic occasion where we celebrate with those we love. By planning and saving for Christmases yet to come, and spreading the financial burden across the year, it’s possible to have a Christmas without the added financial pressure it can bring, and often lasts long after the Yuletide glow has subsided.

We wish you all a happy, healthy and peaceful Christmas!