Saving For Special Occasions

There is so much pressure on us nowadays to pay out for big events and special occasions. I must admit that we don’t participate in all the events in a year as it would just be too much but we do celebrate a few and have our own special ways of saving for them.

Swift Money are currently in the process of creating an infographic talking about how we spend money on these occasions and how much pressure is on us to buy at these times. Let’s take a look at the facts and figures around gift purchasing and how we finance these gifts. People may even consider taking on loans such as these – is this something you have ever considered?

52% of women ‘always’ or ‘occasionally’ save money for gifts, whereas 63% of men will ‘rarely’ or ‘never’ save. I would definitely agree with this – I am much more likely to save for Jack and Olivia’s birthday and Christmas presents whereas Steve just uses that month’s paycheck if there is anything left. 68% of people said there are societal pressures to buy for more calendar events than they would like to – this is very true also but in our situation, we have decided that we will only buy for the most important people on the most important occasions otherwise we end up spending out far too much and leaving ourselves short in other areas.

When it comes to Christmas gift giving, food and drink is the most popular gift given (38%) with wearables such as clothes, jewellery and perfume following close behind with 28% and gadgets also at the same percentage. I generally buy food and drink items, wearables or gadgets so this figure definitely seems correct to me. So when it comes to Christmas, what do we do?

I have now got to the point where I start saving money from around halfway through the year – I save a little bit into my savings account from each invoice that comes in, I save my rewards on all my supermarket loyalty cards so I can spend them during the festive season and I also try to save all Amazon gift codes so I can have a big splurge on presents at the end of November for Jack’s birthday and the kids Christmas presents. I also enter competitions to try and win the things that the kids and Steve want but I may not necessarily afford. Yes, I may not always win but I always end up with a nice bounty of prizes to give to the children, Steve and our parents alongside the things I have bought.

Aside from a few chocolate eggs for the kids at Easter, the only other events we spend out on except for birthdays is Father’s Day and Mother’s Day. It is said that 40% of people buy flowers for Father’s/Mother’s Day and whilst we definitely buy our mums flowers for Mother’s Day, I cannot say we have ever bought flowers for our dads – opting more for sports stuff, clothes or the odd bottle of whisky. Whilst we save for the kids birthdays and Christmas presents, we generally tend to pay out for other presents such as Easter eggs and Father’s and Mother’s Day presents out of our paychecks.

How do you save for special occasions? Do you have a particular routine each year to save up for the big events?

In colloration

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