Wrap your Christmas gifts in brown paper to save on expensive wrapping Picture: stock Source: Supplied

1. Make your own decorations

This is an easy way to save at Christmas, and if you have kids, it can also be a great family bonding experience.

Get them some glitter and glue and bring Christmas to life in your loungeroom.

2. Don’t buy wrapping paper

Why waste money on fancy wrapping paper that will just end up in the bin?

Cheap butchers paper, leftover fabric or other creative wrapping materials look great.

3. Cut down on cards

The days of sending out hundreds of generic Christmas cards are over.

If you still want to send out good wishes to the masses, use email. Real cards should be reserved for people who are special to you.

4. Potluck Christmas

Hosting Christmas lunch or dinner? Make it a “bring a plate” event and spread the cost among your friends and family.

Christmas is about sharing, plus it saves you money and stress and helps people feel like they’re bringing something to the table, so to speak.

5. Make use of those leftovers

If you’re the type of person who carefully stores the leftovers from Christmas dinner in the fridge only to throw them away in a week’s time, you’re literally throwing money in the bin.

Sit down on Boxing Day and plan meals that use leftovers.

6. Save on booze

With a house full of relatives, festive drinks can be one of the bigger costs at Christmas time.

Wine and beer are cheaper by the case.

7. Make your own presents

Making presents not only saves you money, but people always appreciate the time and effort required to make something especially for them.

8. Thoughtful tops expensive

Most people will appreciate a thoughtful or functional gift far more than a flashy one, so take the time to plan out your purchases and don’t just look in the obvious places.

9. Set expectations

If you decide to buy extravagant gifts for everyone you know this year, you’ll certainly feel the pressure to repeat the exercise next year. So build a realistic present budget and stick to it.

10. Set up a savings plan now

Avoid the mild panic that sets in once December rolls around by setting up a Christmas savings plan now. It doesn’t have to be much: $40 a week will go a long way to easing the pressure.