Frosty Finances - Cost of living in December

Christmas is the time of the year where the spirit is high and families and friends gather together to celebrate. However, the holiday season does come with a lot of responsibilities and a lot of these responsibilities rely on money 💸. From decorating and getting the perfect gifts, to going out with family and friends - it might be increasingly difficult to stay on budget. 

There are ways to help the cost of living during this period. Careful budgeting, meal prepping and getting creative with decorations, gifts and activities will hopefully help take some of the financial burden off your shoulders. Hopefully, this article will help you get an idea of where you can save and how during this holiday season.

Start off by budgeting 

Creating a budget tracker helps identify areas where you spend most of your money on non-essential things. By cutting non-essential spending, money will not drain as fast. Google Sheets and Notion are two good applications where you can create your own tracker. Free templates come in handy if you want to skip the process of setting up the tracker yourself!

How many times do you eat out or get a takeaway per week? Depending on your answer, eating out and takeaways might drain more of your budget than you realise. In Portsmouth, it is really easy to fall into the habit of eating out or getting takeaways. After all, some places are open until 3AM (and it is quite convenient when you finish classes at 6PM 😔)! Try to limit eating out and ordering takeaways as much as you can to save some money 💰 and save for a Christmas meal or New Year’s Eve dinner instead.

💡 Reminder - you are a student! If you have a meal out or purchase gifts, make use of any student discounts 💡

Meals

Grocery shopping can get quite expensive and stressful when you are planning delicious Christmas meals. To manage the cost, you could try cheaper shops and make use of deals and reduced sections.

Why not try shopping with your friends/flatmates? Not only will you get an extra pair of hands to carry the heavy bags, but shopping in numbers might actually cut down the costs. Bulk purchases and sharing items may cost less per unit. Plus - a Christmas meal with your flat and friends is definitely a core memory (and cheaper)!

Also, meal prepping is a great way to save money and manage meals between lectures. All you have to do is plan your meals in advance, shop for the ingredients and find some time to prepare them. Food blogs are a great way to get meal prep ideas and detailed instructions on how to prepare them. Search for some of your favourite meals and learn how to meal prep!

Activities

Do you have to budget your friends out of your life to save money? Not necessarily!

Going out with friends can take quite the toll on your savings. Food and drinks are expensive and they surely add up by the end of the night! Rather than going out, have a ‘stay in’ with your friends. 

Have a movie marathon, play board games and have a Christmas karaoke night - staying in doesn’t have to be lame. Think about it this way - hanging out in your place provides control over the snacks, drinks and MUSIC! Share the cost of snacks and drinks and you will be able to do this way more often than going out (and your wallet will thank you 🙏).

DIY - Christmas decorations and gifts

If you're looking to decorate for Christmas but don’t want to break the bank, there are plenty of creative, inexpensive ideas that you can make at home. YouTube and Pinterest are a great way to get some inspiration and follow tutorials to make your place feel festive. 

Christmas decorations ideas:

• Paper snowflakes & origami decorations - watch some YT tutorials on how to make them
• Fill any spare jars with decorative lights, fake snow, or any Christmas ornaments you may have or even pinecones!
• DIY Wreath - use any leftover garlands and decorate them with some twigs, fabrics or ribbons
• Cut small strips of red or gold ribbon and tie them up in bows to add to a Christmas tree or around the house

DIY gift ideas:

• Bookmark - know a friend that would love a bookmark? Then make one and decorate it based on their likes
• Custom mugs & coasters - purchase some ceramic mugs and coasters and get creative
• Mini plant pots and succulents! 

Once again, Pinterest really is my holy grail when it comes to inspiration for DIY projects, give it a go!

Making money

A part time job would definitely assist in reducing the burden of the cost of living. Look out for any part time jobs that pique your interest and apply. You can enhance your CV, receive help in applying for jobs and prepare for interviews from the Careers and Employability Service provided by the University.

However, sometimes the job search may be quite difficult and take a while. While you wait, you can make some money doing paid surveys, freelancing or selling unwanted items.

❄️ While the cost of living may feel overwhelming in December, taking the right steps can help lessen the financial burden. It’s important to remember that the holiday season is about more than just spending - it’s about connecting with others and taking the time to recharge. With a little bit of creativity it’s possible to enjoy this season without breaking the bank ❄️