Each project arrives with its purpose, milestones and first tasks written out. Here is how the first three read.
Last Christmas's true cost reconstructed
Most people underestimate what Christmas costs by a third or more, because the gifts are remembered and the food, travel, postage, parties and last-minute top-ups are not. Rebuilding last year's full cost from bank and card statements, November to early January, gives you an honest starting number instead of a hopeful one.
First tasks
- Download statements for every account and card covering last November to mid-January
- Tag each Christmas-related transaction with one of six spending groups
- Total each group and the overall cost on one page
- Note any Christmas balance still being repaid on credit or instalments
Gift recipient list in three tiers
Every extra name on the list adds a gift, wrapping, postage and often a card, and lists tend to grow by habit rather than choice. Writing down everyone you buy for, then sorting them into close family, wider family and friends, and token gifts, shows where the money really goes and makes later cuts easier to discuss.
First tasks
- List every person and household you bought a gift for last year
- Add the extras people forget, such as teachers, neighbours and Secret Santa
- Place each name into close, wider or token tier
- Mark the names you would happily switch to a card only
Non-gift Christmas costs listed line by line
Gifts are often less than half the season's spending. The big food shop, drinks, the tree, new decorations, cards and stamps, travel to family, an outfit for the party, a meal out with friends and tips for the people who deliver to your door all need a line, or they will be paid for from next month's budget.
First tasks
- Write down every non-gift cost from last year's reconstructed spending
- Add any new costs this year, such as hosting or a longer trip
- Put a planned amount beside each line
- Check the travel lines against current fares or fuel prices
