Easter tends to be a time for fun, family and friends. Whether you are spending Easter with your friends or if you are going on a weekend break for Easter, you need to make sure that you have sorted out your finances for the long weekend. Recent statistics show that Easter spending has swelled to £747m, according to the Telegraph. With so much money being spent, it is important to understand how to manage your Easter finances. Take a look at some of our top tips on how to manage your money this Easter.
Tips for managing your Easter Spending
- Know if you are going to buy gifts: Popular Easter gifts for children include chocolate Easter eggs and Easter cards. It’s important to budget correctly for your gifts whether you are buying for your children, dependents or for yourself. Easter gifts for children tend to be more expensive than other gifts so it is important to look for gifts on a budget. You can buy gifts on offer or you can also forego wrapping paper for Easter presents.
- Weekend holiday breaks: Easter is known as a time where people go away for the weekend because of the Bank Holiday weekend leading up to Easter. If you are planning on going on a holiday break, there are certain things that you need to take into account. You need to decide if you will stay in the UK or go on a European break. If you choose the latter, you should always stay at an affordable hotel to save on costs. Weekend holiday breaks need to be organised effectively so that you don’t fall into any financial difficulty during the Easter weekend. One way to minimise costs is to go on a weekend break within the UK, and to travel via train instead of taking a flight.
- Make a budget for Easter spending: You should try and write down your predicted Easter spending. Many people like to use debit cards to manage their finances especially for holidays. You should only look at what you can afford.
- Plan ahead: It’s important not to make any impulse purchases during Easter. There will be many retail goodies on offer during Easter so if you know that you shouldn’t be making impulse purchases, make sure that you plan your Easter weekend properly.
- Coordinate with your friends who understand: Easter spending is also focused on friends especially amongst adults. Whether your friends want to go away for the weekend or they have something in mind, it is critical to do things with friends who understand your budgeting situation and who know that you are looking after your finance situation.
- Search for promotions: Easter is always a time for retail promotions. Retailers are always looking to boost Easter sales. One way they do this is by giving offers, promotions and discount codes on specific items. Look out for good deals on chocolate, flowers and children’s toys this Easter, as well as Easter clothing offers for children and adults. You can look online for discount vouchers and redeem them as long as you read the terms and conditions.
If you are looking for fun ideas of what you can do this Easter, take a look at these fun ideas that you can start using this Easter weekend.
Popular Easter spending ideas that Brits love
- According to Forbes magazine, spending for gardening and home improvements is around £30m in the time preceding Easter. Home improvements and gardening are popular and due to the nature of the weather, gardening spending should be done when you have planned it thoroughly.
- Easter egg spending has ballooned to £186m on all types of eggs from artisanal, chocolate eggs and painted eggs, according to the Telegraph. One of the easiest options financially is to choose chocolate eggs because you can get them on offer in the supermarket and you can buy several depending on how many that you need. Easter egg hunts for children are also popular to do. These require more planning so it is worth figuring out whether you can host this party and how much it will cost (expenses include paint and decorations for the hunt).
- Fine dining – Restaurants expect to do excellent trade on the weekend of Easter because there is so much free time to eat out. Whether you plan on going to a fancy restaurant or if you want to go somewhere affordable, if you will be eating out, make sure that it is budgeted. Some restaurant chains will offer restaurant vouchers for Easter if you look in the right places.
- Toys for children – Easter gift ideas that are popular for children include toys. The difference between Easter toys and Christmas toys is that they do not have to be as extravagant as Christmas toys. You can look for affordable options to add a bit of instant cheer into your child or dependent’s Easter weekend.
Easter spending requires you to look at your need and what your plans are. Many people look at the Bank holiday weekend as a time to be with family and friends. If you have a family to look after, only choose options that suit your budget. If you can’t go away for the Easter weekend, there are other affordable choices such as going to theme parks with the whole family.
Don’t be tempted to overspend if you don’t have any money: It’s critical not to put yourself in a situation where you will spend money that you don’t have. If you have been invited to Easter events but you cannot pay for your share, you should not go. It’s really important to only spend within your means to avoid any potential future financial hardship. Overspending during Easter can cause serious problems for your personal finances as well as creating extra stress. You need to look at how important the Easter weekend is to you and your finances.
With adequate planning, Easter can be an enjoyable time spent with your family and friends, as long as finances are taken care of properly.