Black Friday. Christmas promotions. Holiday gift lists. Endless occasions. Heaps of obligations. Not to mention heightened heating bills, and pay days that seem impossibly far away. Thinking about money over the holiday period can be overwhelming. And with recent research showing two thirds of adults are worried about affording the essentials this winter, if thinking about making ends meet is taking its toll, you’re not alone.
Worrying about money can have a massive impact on your head. Whether it’s the anxiety you feel from ignoring your bank balance, or figuring out how to tell a mate you can’t afford to attend their yearly knees-up at the pub, it’s easy for money worries to mount up and make you feel stressed. It’s not just about the pounds and pennies - when money’s on your mind, it can affect your sleep, your mood, and your mental health. And loads of you are struggling right now. The good news? There’s help available. You don’t have to figure it out alone.
Tip 1: Plan it
Yup, there’s still time. Even if it doesn’t feel like it. Even if things feel out of control, it doesn’t mean you can’t pull things back, press pause, or get the support you need. Kara’s first tip is to plan what you can, when you can.
It doesn’t have to be bells and whistles or written down in a fancy schmancy budgeting journal. Find what works for you. Look at what money is coming in - from a job or from any benefits you receive - and then look at what’s coming out. Once you know that, you can plan from there.
Kara says, “January often feels like the longest month, especially if you’ve been paid early in December and need to stretch your budget over the holidays. The festive season can be a financial pressure cooker, so the earlier you start planning, the better.
Bank of England data shows UK households spend nearly 30% more in December than in a typical month, and MoneySuperMarket research revealed that one in 10 Brits rely on credit cards, overdrafts or loans to get through the season.*
“MoneySuperMarket research found that the average UK family expects to spend £1,626 on gifts, gatherings and celebrations this year, so setting a realistic spending limit and breaking it down into categories like gifts, food and travel is key.
“It can feel overwhelming tackling your finances, but you can start small. Making small changes can add up. I like the ‘15-minute rule’: set a timer, tackle one money task, and stop when the timer goes off. While it might feel uncomfortable and difficult at first, you’ll be surprised how much you can get done, and how much lighter you’ll feel. Taking small, manageable steps can ease financial stress and help protect your mental wellbeing. Whether it’s setting a budget, reviewing your subscriptions or checking your credit score, giving yourself permission to do just one thing at a time can make a big difference.”
Tip 2: Stay in control
Getting carried away at the Christmas party, fear of missing out on the deal of a century in a BIG FLASHY PROMOTION, or finding the perfect gift for a loved one, it’s easy to lose track or feel the pressure to spend - especially during the holiday season.
But just because ads tell you to spend, it doesn’t mean you have to spend a fortune or grab a deal in the Black Friday Sales.
To quote Martin Lewis - sometimes the best present is nothing, if it prevents you getting into debt or stress later down the line. If you’re struggling with the pressure, there’s help available - find more support here.
Another thing to bear in mind is that research has shown promotion periods like Black Friday often aren’t the best or only time to grab a deal. Which? found many retailers sell their products for cheaper at different points in the year - so if you’re feeling the pressure to be savvy and make a good purchase, you can relax. The noise around sales like Black Friday can be loud and hard to ignore, but the reality is far less pressing than it may seem.
If you are still looking to make purchases during sale periods this year, Kara says it’s a good idea to set yourself some ground rules. How much are you willing to spend? What do you actually want or need to buy? Asking yourself just a few questions before you get knee deep into the Black Friday scroll can help you stay in control and avoid impulse spends - something that can be tough for many people, including those who are neurodiverse.
Kara says, “Make a list before you shop and stick to it – impulse buys are one of the biggest budget-busters. Give yourself time to think about each purchase: ask, ‘Do I really need this? Will I still feel good about this tomorrow?’ That pause can save you from buyer’s remorse.
“And if you do regret a purchase made in the moment, most retailers offer returns policies – but these vary, so check the terms before you buy. Knowing your rights upfront means you’re less likely to feel stuck with something you don’t want. Planning ahead and shopping mindfully can make the festive season less stressful and more affordable.”
And if you’re considering paying with credit cards or Buy Now Pay Later (BNPL)?
“MoneySuperMarket research shows that 9% of Brits turn to Buy Now, Pay Later (BNPL) schemes to cover the holiday season. They can feel like a lifeline when money’s tight - but it’s important to remember that it’s still a form of borrowing.
“Buy Now Pay Later (BNPL) can look like a quick fix because many schemes don’t charge interest, but that doesn’t mean they’re risk-free. Missed payments can lead to late fees and even harm your credit score. Before you hit ‘checkout’, ask yourself: ‘Could I still afford this if the payment comes out next month?’ If the answer is no, it’s better to pause or find a cheaper alternative.
“If you do use Buy Now Pay Later (BNPL), set reminders for repayment dates and avoid stacking multiple purchases – it’s easy to lose track and end up with more debt than you planned.
And if you’re considering other credit options, use a free eligibility checker like the one on MoneySuperMarket to see which products you’re likely to be approved for, without affecting your credit score. It’s not a guarantee, but it’s a smart way to avoid unnecessary rejections and protect your financial health.
Tip 3: Talk about it
Whether you’re worried about affording presents for the kids, heating the house, or unsure about your finances going into the new year, don’t struggle alone. Money is still a hugely taboo topic - our Money Talks research revealed that people would prefer to talk about their mental health than their bank balance, which shows just how difficult opening up about money worries can be.
But it shouldn’t be that way. Talking openly about money allows us to smash the stigma around it, and you’ll be surprised at how many of your friends and family open up about their own struggles if you share yours. Our Money Talks research showed that 1 in 3 people believe talking about their financial situation would help their mental health, while 1 in 2 wished the stigma around money didn’t exist.
What’s more, more than 75% of people said they’d listen to a mate who opened up - at Christmas or at any time. So while it might feel impossible, embracing the awkward can make all the difference.
Kara says, “Your financial health and mental health are deeply connected. When money worries pile up, stress often follows – and that can affect every part of life. By creating routines that feel safe and achievable, like setting a weekly ‘money hour’ or automating savings, you’re not just managing your budget, you’re building emotional resilience too.
If you’re struggling, don’t keep it to yourself. Talking about what’s worrying you – whether with a friend or a free debt advice service – can make a huge difference. Small steps, like checking your spending or setting realistic goals, can help you feel more in control and reduce anxiety over time.”
Get Support:
We know money stress is tough. But there's always a way forward. Explore our Money Talks page for more info on tackling the stigma around cash, or head here for more ways to get help with things like debt, homelessness or suicidal thoughts.
You’re not alone. CALM has loads of support to help you feel better, including our life-saving suicide prevention helpline.
