Having just returned my two children to University and Secondary School I am here thinking how could I have made this easier for myself. The cost of getting them set up with books, clothing, travel etc is just outrageous BUT it is no surprise, my girls are 24 and 16 so I had time to plan. How Much is Too Much to Spend at Christmas?
I had time but I had no cop on to plan so here I am scraping every single available cent to get them sorted.
This got me thinking about all the money I could have set aside for this day and one of the simplest ways would have been to cut back at Christmas.
Both girls got everything, no questions. If they even looked in the direction of something it was under the tree on Christmas morning and it would not have been unusual for my to spend €1,500 per child for this one day in the year. So today I am thinking How Much is Too Much to Spend at Christmas?
Imagine if I had put just €400 aside for each child each year out of the Christmas spend and put it away for 3rd level education. Even without any kind of clever investment this would this pot for my eldest now would be €9,600 and for my youngest of she goes straight from second level to third her fund would be €7,200.
Over the past few weeks I have seen mum’s on various groups on Facebook etc talking about Christmas and there are mum’s spending a lot more than I ever did and I am here with hindsight thinking , you are crazy but who am I to pass judgement? I did the very same BUT I wish I had the frame of mind I have today back then because this 3rd level education business is very expensive and for my eldest €9,600 would go a very long way.
For new parents, or parents that have been spending crazy like I did, just take a moment and think about how you may fund 3rd level or at the least contribute towards this very expensive time. Your childs education is worth so much more than The Doll, The Game, The Bike, in the grand scheme its just fluff but a great education is everything and you will be setting your child up well.
So How Much is Too Much to Spend at Christmas? What is your Christmas Budget? Do you spend too much at Christmas? How can you cut costs at Christmas?