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Abu Dhabi, UAEFriday 18 January 2019

UAE money bloggers share their tips on cutting the cost of Christmas

From a fake tree to low-key get-togethers and setting a budget on gifts, here are some ways to save money this festive season

Tuan Phan of SimplyFI.org with his wife Betty Omodamwen and their children Morris, 1, and Alma, 2, at their Abu Dhabi home. Mr Phan limits Christmas gifts to his children to one toy each, under Dh50, and one small present each of Dh100. Chris Whiteoak / The National
Tuan Phan of SimplyFI.org with his wife Betty Omodamwen and their children Morris, 1, and Alma, 2, at their Abu Dhabi home. Mr Phan limits Christmas gifts to his children to one toy each, under Dh50, and one small present each of Dh100. Chris Whiteoak / The National

If you write about personal finance, like these UAE bloggers, you have to know how to put the ho-ho-ho in Christmas for less. Is a real tree worth the money? What limit should you put on presents? And how do you ensure you don’t start the New Year in debt?

We ask Briton Steve Cronin (SC), 40, of financial education community DeadSimpleSaving.com, American teacher Zach Holz (ZH), 35, who writes The Happiest Teacher, Demos Kyprianou (DK), 36, a married Cypriot occupational psychologist and Tuan Phan (TP), a 41-year-old father-of-two and Australian meteorologist, of non-profit community SimplyFI.org, and British media manager David Hanson (DH), 40, a father-of-two, of Dubai Money Guy for their Christmas tips.

Where do you normally spend Christmas?

SC: My grandmother is 102, so I spend Christmas Day in England with her and my parents.

ZH: My holiday is usually two weeks – that's not enough time to go to the States and deal with jet lag. This year, my girlfriend is coming to visit.

DK: Last year we spent it at a restaurant with friends. The year before, home in Cyprus.

TP: In the past, I've always worked so colleagues with children can have time off. This year we are making the trip to Melbourne to spend time with my mum there.

DH: We always spend Christmas in Dubai. Flights are expensive and our families live far apart in the UK. We are lucky to have all our parents in town again this year.

Blogger David Hanson of Dubai Money Guy spends a couple of thousand dirhams total on his family. Reem Mohammed / The National
Blogger David Hanson of Dubai Money Guy spends a couple of thousand dirhams total on his family. Reem Mohammed / The National

Do you have a budget for presents?

SC: No budget – it’s the thought that counts. A useful or thoughtful present is worth so much more. Charity donations, endangered animal sponsorships, home-made items and events are more eco-friendly too. Cash is a bit miserable: make sure there’s at least one nice-looking present under the tree.

ZH: I usually donate $50 apiece for my parents and brother to charities like Doctors Without Borders or Amnesty International. I'll still get something nice for my girlfriend – but nothing crazy. I have a Secret Santa gift exchange with friends and co-workers, capped at Dh100.

DK: We do a Secret Santa at work with a budget of Dh50-100. At home we try to purchase or create experiences rather than material things – Christmas festivals, travelling, cooking favourite meals for each other.

TP: We limit the children to one toy each, under Dh50, and one small present for each other of a maximum Dh100. My stepbrother has his birthday on December 27 – I got him a smart watch below my Dh500 limit in the sales.

DH: A couple of thousand dirhams for everyone. I treat December like any other month in terms of my savings targets, so any money spent on Christmas things will have to come from savings elsewhere. Our oldest son is two-and-a-half so we get him making Christmas cards and baking with me – a batch of vanillekipferl, an Austrian Christmas cookie. When we meet our friends at Christmas, we have a Secret Santa with a Dh200 limit.

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How do you plan ahead for the festive season?

SC: You know Christmas and New Year are coming, so it’s worth some thought in advance. I jot down present ideas on my phone throughout the year. This year we are using Avios points for our flights from London to Helsinki, then taking Norwegian Air back to Dubai.

TP: There are lots of bargains and specials available throughout the year if you keep an eye out, are not under time pressures and are flexible, especially with flights. Three months out, the cheapest flights for a family of four to Australia around Christmas was nearly Dh15,000; four weeks before, the cheapest price is almost Dh22,000. I'm making a photobook of the children for Mum’s Christmas present, which I’m sure she will proudly share with visitors long after we have returned to the UAE.

DH: We buy online in the UK and have relatives bring the presents out. We also have our family bring us a Christmas pudding.

Mr Phan with his daughter Alma. He advises planning ahead for the cost of Christmas by hunting out bargains throughout the year. Chris Whiteoak / The National
Mr Phan with his daughter Alma. He advises planning ahead for the cost of Christmas by hunting out bargains throughout the year. Chris Whiteoak / The National

Do you get a tree?

SC: I have a little plastic fibre-optic tree that has been with me for years. It stays out on the landing all year undecorated.

ZH: My favourite thing in the world is a real tree. I tend to get a smaller tree, so it costs about Dh250 to Dh300.

DK: We bought an artificial one a while back for about Dh150.

TP: Living in a small apartment, it was hard to get a big, real tree, so we ended up with a small 35 centimetre artificial tree from the local bargain store.

DH: We have had the same fake tree for years and years. It took a lot for me to give up on a real tree as I always had them growing up, but they’re expensive - Dh350 to Dh1,000 - and all the needles have dropped off by mid-December.

Money blogger Zach Holz enjoys a pot-luck dinner with friends at Christmas that costs about Dh100 a person. Reem Mohammed/The National
Money blogger Zach Holz enjoys a pot-luck dinner with friends at Christmas that costs about Dh100 a person. Reem Mohammed/The National

What makes a special Christmas meal?

SC: I hate turkey. Bah humbug. Anything else is preferable.

ZH: I make it a pot luck with friends all bringing a dish. I can do that for Dh100 a person, even if they're making something very nice.

DK: My wife is a pescatarian so we typically eat salmon. We buy treats like chocolates and cheesecake and spend a little more on Christmas.

TP: I don't have a special Christmas meal so I’m happy to get anything that's on special. We may spend an extra Dh50-Dh100.

DH: Our biggest Christmas indulgence is ordering a turkey in – we have spent Dh550 for the bird and all the trimmings.

Demos Kyprianou of SimplyFI.com uses a fake Christmas tree that costs Dh150. Anna Nielsen / The National.
Demos Kyprianou of SimplyFI.com uses a fake Christmas tree that costs Dh150. Anna Nielsen / The National.

How do you avoid going over-the-top for Christmas?

SC: Since you know Christmas is coming, you can save a small amount each month in preparation. Buy your decorations in the January sales. If you have a huge family or a big group of friends, agree to only buy one present each.

ZH: Realise that most people really don't need more stuff, but that your donation to a worthy charity can help those who truly need it.

DK: Budget in advance, just like every month. Naturally we make some accommodation for Christmas by increasing our spend – but we still stick to it.

TP: There's always a lot of pressure to spend and over-consume for Christmas. I prefer to keep it low-key – this extra financial burden will linger months after people have forgotten about your gifts. Set a small limit – and communicate it to family and friends to manage expectations and help them reduce their costs too.

DH: It’s important to remember what makes a Christmas memorable. For me that’s spending time with my family. Digging yourself a debt hole for the brand-new year doesn’t help anyone.

Steve Cronin of DeadSimpleSaving.com says even those careful with their money are entitled to a blowout meal during the festive period. Antonie Robertson / The National
Steve Cronin of DeadSimpleSaving.com says even those careful with their money are entitled to a blowout meal during the festive period. Antonie Robertson / The National

What parties do you attend?

SC: If you're in the UAE, you can have a party on the beach, in a park or your own home. It's all about the people. Having said that, you're allowed a blowout meal sometimes.

ZH: I like to host Christmas get-togethers at my place, where we decorate the tree and watch movies. At New Year my band, the Part Time Sinners, is booked to play at the M Hotel in Business Bay.

TP: For the past few New Years, I've spent the night celebrating with other tenants on my building rooftop on Reem Island, with good views of the fireworks.

DH: We go to the Christmas Fair at the Madinat Jumeirah every year and we get together with 10-15 friends at someone’s villa on Christmas Day or Boxing Day.

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Read more:

'I've made every money mistake you can in 13 years in the UAE'

The five-step guide to low-cost offshore investing for UAE residents

How to achieve financial independence

10 blogs to help you achieve financial independence

'Happiest Teacher' blogs about saving money in Dubai

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Updated: December 18, 2018 03:09 PM

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