Money Matters at Christmas
With Richard Andrews
- 2Shades introduces Richard Andrews new column ” Money Matters ” He’s not a financial adviser — but with more than a decade in banking, years of coaching executives, and hands-on experience running his own business, Richard Andrews knows a thing or two about money. As households prepare for one of the most expensive seasons of the year, Richard shares his no-nonsense advice on spending smart, avoiding debt, and keeping Christmas joyful without breaking the bank.
“Finance expert is very kind… but let’s clarify that first!”
Q: Richard, you’ve been described as a finance expert. Is that fair?
A: “‘Finance expert’ is very kind, but I’m not a financial adviser. I did spend over ten years working for a high street bank, including as a business manager supporting small businesses. Today, I run my own company and coach executives and individuals to help them achieve the outcomes they want. All of that gives me plenty of real-world insight to share with your audience.”
The Cost of Christmas
Q: Why is Christmas such an important time to talk about money?
A: “Because we spend a lot of it. The average UK household will spend around £1,626 on Christmas this year. That includes £350 on food and drink and £181 on presents. But the biggest spend comes from the hidden extras — entertainment, wrapping paper, cards, batteries — all those little things that add up fast. If you’re not careful, the consequences can follow you well into January.”
Rule Number One: Don’t Spend What You Don’t Have
Q: What’s your core message for managing Christmas spending?
A: “Don’t spend money you can’t afford. I’m not suggesting a gloomy, ‘bah humbug’ Christmas — just decide what you can realistically spend and stick to it. Overspending without a plan leads straight to a miserable January.”
The Credit Card Trap
Q: Many people rely on credit cards at Christmas. What’s the danger?
A: “Most of us use them, but the issue is that people often add £250–£500 to their debt at Christmas. That £250 gadget can become £500+ once interest kicks in if you’re not paying it off quickly. Some instalment services like Klarna can help if you can afford them — but remember, they’re not free money.”
Black Friday: Bargain or Illusion?
Q: Are Black Friday deals worth it?
A: “Often they’re not. Some retailers raise prices beforehand to make the ‘discounts’ look dramatic. The best thing you can do is track the prices of items you genuinely want. Don’t fall for impulse buys — that’s dead money.”
Cost of Living vs Christmas Spirit
Q: In a cost-of-living crisis, how can people avoid overspending?
A: “Plan and budget. The UK will throw away almost £450 million worth of food over Christmas. Don’t get into debt buying food you’re going to bin. Freeze leftovers, plan meals properly, and remember that the real gift is time with loved ones. Debt in January is the fastest way to ruin the joy of Christmas.”
Managing Children’s Expectations
Q: How should parents handle kids’ wish-lists?
A: “Kids are smart and constantly targeted by influencers. Be honest, don’t promise what you can’t deliver, and don’t go into debt to keep up with the Joneses — that’s a race you can never win. Set realistic budgets, talk openly, and consider refurbished or discounted-return tech. ‘New to them’ is just as good.”
Short-Term Loans: A Firm No
Q: Are short-term loans ever a good idea during the holidays?
A: “Never. A £500 loan over six months can cost you £640 or more. These loans spiral quickly and trap people in a cycle of borrowing. No Christmas is worth that risk.”
Planning Ahead for Christmas 2026
Q: What’s the best strategy for next year?
A: “Start in January. Put aside whatever you can each month into a savings account. Christmas Club schemes can help, but make sure you’re not stuck with a single retailer. Buy gifts throughout the year if you spot a good deal and remember that adults don’t need expensive presents — thoughtful tokens count.”
The Real Gift
Q: Any final advice for a calmer Christmas?
A: “Christmas is stressful enough without money worries. Don’t add pressure you don’t need. Focus on an affordable, joyful Christmas with the people you love — because that is the true gift.”
Connect with Richard
You can find him on LinkedIn, or email him at:
RichardAndrewsCoaching@gmail.com
https://www.linkedin.com/in/richardbandrews/
2Shades Magazine 