4 mistakes that are costing you money in the run-up to Christmas

The days are getting shorter, mince pies are on the shelves and although the holiday season isn't fully in swing yet, getting a plan in place for your spending before Black Friday and Christmas mania arrive at full speed can save you a hefty sum.

Whatever your budget for gifts, there's no time like the present to think about how you can spend your money intentionally this year and avoid that post-spending blowout regret. The beauty of mindful spending is that it isn't about putting a ban on purchases; rather, it's about focusing your spending on items or experiences that really add value to your life.

To set you up for the season ahead, here's a quick guide to how to add a sprinkle of mindfulness to your festive shopping this winter.

Plan ahead to avoid panic

The daunting task of Christmas shopping can mean that it’s easier to push it into the distance and deal with it later, plus the speed of next day delivery now means that you can kick the can down the road and still get your gifts on time. That being said, the best approach to gift shopping for your stress levels and your bank account is to plan ahead.

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Ambrina Taylor, founder of Money Savvy Mum UK, shares tips on how to stay on track with spending. "It's so easy to get carried away when the festive season is in full swing and if you don’t have a gift list prepared, you’re undoubtedly going to end up spending more".

Write your list of who you need to buy gifts for now, and set a clear budget for each gift. You can jot down any ideas you have for gifts for each person, so that you can keep an eye out for offers on items you're planning to purchase. Especially with Black Friday around the corner, there are sure to be plenty of deals to snap up in the coming weeks so ten minutes of planning today can save you tens, if not hundreds of pounds over the next few months.

Focus on the thought

Advertising goes crazy around Christmas and it's difficult to not get convinced that you need to buy bigger, better presents for your friends and family each year. If you're feeling the pressure to spend more than you can or want to, take a look at where the pressure is coming from and try to step back and pause.

There are so many adverts and gift guides everywhere over the winter months, especially online, so don’t be afraid to take a breather and disconnect if you need to.

If you're stretched financially, consider ways that you can save money on gifts. Whether you're skilled at crafts and can create handmade presents, or you’re a star baker who can whip up some treats, it really is the thought and effort that goes into a gift that matters, not the cost.

Be honest about your budget

Being mindful about money becomes a whole lot easier when you can be open with your family and friends about your financial situation and the resources you have available. It isn't always easy to bring up the topic of money, yet by setting expectations with your nearest and dearest, along with communicating about how much you can spend on Christmas gifts, you can help yourself to stay within your budget and avoid overspending.

Often you'll find that your loved ones are understanding and you can focus on enjoying the occasion rather than stressing about how much you have spent.

Save when you spend

Heading to your favourite stores to enjoy the festive atmosphere is tempting, however, Ruth encourages online shopping if you're keeping a close eye on your spending. "If you can, try to do the majority of your Christmas shopping online. You're far less likely to succumb to the pressure to spend in the shops - we all know how easy it is to get carried away when we see things up close and personal!"

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There's also the added ease of shopping around for deals online, helping you save those valuable extra pounds. "Download browser extensions like ‘Honey’ to help you find discount coupons and always remember to use cash back sites wherever possible," recommends Ruth.

Ellie Austin-Williams is the author of Money Talks, a Lifestyle Guide for financial wellbeing. Find her on Instagram at @thisgirltalksmoney.