Plan Christmas without the January money hangover
A practical guide from Clockwise Credit Union to help you work out what Christmas could cost, set a realistic budget, start saving and find support if money is already tight.
- Free budget planner
- Simple saving targets
- Local support links
- Practical, straightforward help
Work out what Christmas could actually cost
The easiest budget to stick to is one based on real numbers. Use the planner below as a starting point, then adjust it around your own family, traditions and priorities. The aim is not to create a perfect Christmas budget, just one you can live with.
Before you apply for a Clockwise loan
If you are considering borrowing, the information below explains our current personal loan rates, representative examples and important repayment information.
Are you looking to borrow money? Using a Credit Union could be the right decision.
Personal Loan Interest rates:
The interest rate depends on the amount you borrow from Clockwise
- From £50 to £2,999 at 42.6% APR
- From £3,000 to £10,000 at a representative APR of 21.9%
- Maximum Annual Percentage Rate (APR) is 42.6%.
- Minimum period for repayment is 90 days.
- Maximum period for repayment is 60 months.
Loan Repayment Example
A loan of £500 paid back over 12 months would mean a monthly repayment of £50.24 and total repayable £602.82
A representative loan of £3000 paid back over 24 months at 21.9% APR would mean a monthly repayment of £152.64 and total repayable £3663.35
There are no application fees or early repayment fees.
As part of your application, you may be asked to complete a credit check.
Seven ways to make the Christmas budget easier
Small decisions made early usually do more good than heroic attempts to save everything in December.
Set one total before you shop
Choose the maximum you can afford for Christmas as a whole, then split it between presents, food, travel, socialising and everything else.
Budget by person
Give each person a gift budget before you start browsing. It stops one good deal quietly becoming several unplanned purchases.
Include the easy-to-forget costs
Wrapping paper, school events, taxis, postage, extra food, batteries and Christmas outings can add up surprisingly quickly.
Save automatically
A smaller regular transfer can be easier than finding a large lump sum later. Treat Christmas saving like another regular bill where you can.
Keep everyday bills separate
Rent, mortgage, energy, council tax and food still need paying in December. Build Christmas around those essentials, not the other way round.
Keep track of anything you spread
Spreading payments can make a purchase feel smaller than it is. Keep one list of anything you have committed to repay after Christmas.
If the numbers do not work, act early
Cutting the budget before Christmas is much easier than dealing with unaffordable repayments afterwards. If essentials are already difficult, use the support links below.
Before borrowing for Christmas
Christmas is one day. Repayments can last for months. If you are considering credit, look at the total amount repayable as well as the regular payment, and make sure repayments fit alongside your essential bills.
If you are already struggling with food, energy, rent or other essentials, getting free support first may be more appropriate than taking on another repayment.
If Christmas is putting pressure on essentials, help is available
Christmas-specific schemes often appear later in the autumn, so these links point to the current official support pages for Leicester and Nottingham. It is worth checking them again as December gets closer.
Leicester
Leicester City Council provides routes to emergency financial help, food and essentials support, money advice and its Crisis and Resilience Fund.
Citizens Advice LeicesterShire is also listed by the council for free advice on 0808 278 7970, Monday to Friday, 9am to 4.30pm.
Nottingham
Nottingham City Council’s Crisis and Resilience Fund provides routes to emergency financial support, food help, welfare advice and other local services.
The council also links residents to local debt, benefits, food and wider support services.
About Clockwise Credit Union
Clockwise is a member-owned, not-for-profit credit union serving people who live or work in Leicester, Leicestershire, Rutland, Coventry, Warwickshire, Nottingham and Nottinghamshire.
We provide savings and affordable credit, with decisions focused on the needs of our members and the communities we serve.
Find out about joining ClockwiseWith Clockwise you can
- Build a regular savings habit
- Access straightforward savings products
- Apply for credit subject to eligibility, affordability and credit checks
- Manage your account online or through the app
- Keep eligible savings protected by the FSCS
Want a little help staying on track?
Join the Clockwise Christmas Money Newsletter for practical budgeting and saving ideas throughout the run-up to Christmas.
Join the Christmas Money NewsletterThis page provides general information, not personal financial advice. Support schemes, eligibility and opening arrangements can change, so check the linked organisation’s website for the latest information.