Firstly, ask yourself: how much will Christmas actually cost this year? A good benchmark is your spending last December. Think about whether you had enough money, where you overspent and where the pinch points came – e.g. your workplace Christmas party. Tot up your spending in each category: food, drink, travel, presents, decorations and entertainment. Don’t forget to add in any new commitments this year – maybe you’re hosting Christmas dinner for the first time. Then add it all up to get your magic number. THAT, my friend, is the basis for your Christmas budget. Now you can start to make some decisions…