Martin Lewis shares stark Christmas warning with parents: "It's just one day."

(Image credit: Getty images / Future)

published 16 November 2022

Martin Lewis, the Money saving Expert, shares his stark warning to families this Christmas.

It's no secret that December is a pricey affair. Sprouts, turkeys, Christmas crackers, trees, stockings, Christmas jumpers, teacher's gifts, festive brunches, they're the Christmas norm we're used to, but they all add up. And everyone's 'norm' is looking very different at the moment as many families wonder how to save money for Christmas and pay their energy bills.

With the cost of living crisis, Martin explained that we all need to “think about spending less”. The savings expert even questioned whether or not we should be buying presents this Christmas and said that we should focus on spending more time with family and friends.

Speaking on his new ITV show The Martin Lewis Money Show Live, which is focused on how families can save money as Christmas approaches in what is certain to have been a difficult year for many, Martin said: 'Christmas is one day. Do not ruin your lives for Christmas.'

What the... heck! Last night 3.7m watch @itvmlshow LIVE, an unprecendented 22% share of audience, even though we were up against Bake Off. That's just mindblowing numbers these days. We peaked at nearly 5m (admittedly just before #ImACeleb started)THANK YOU to all who watched.November 9, 2022

One woman in the audience shared her concerns about getting gifts for her family, as well as food, drink, and more over the festive period. 'You know you’re not going to be able to spend like you want to,' Martin replied.

He went on to talk about expectations: 'People have a perfect Christmas in their mind and then work towards achieving it,' he told his viewers.

However, he warned that this was not a good idea, and meant families could end up racking up debt. 'Decide how much you are going to spend on Christmas this year and stick to it,' the financial journalist advised. Martin elaborated that it might be best to skip out on a big Christmas meal and gifts this year to avoid getting into money trouble.

'Christmas is one day, we don’t want you to be in debt in the New Year.'

Martin also revealed when the best days to shop are, including Black Friday, Cyber Monday, pre-Christmas, Boxing day, and January sales. He also cites; need it, afford it, and cheaper elsewhere.

These words are in relation to the three questions the expert tells you to ask yourself when shopping:

Do I need it?
Can I afford it?
Can I get it cheaper elsewhere?

After the show, many fans flocked to Twitter to share their stories after taking advice from the show.

One wrote: 'went to Sainsbury’s this morning and bought the £10 bottle of Baileys. Thank you for the tip'. Another said: 'wife and I both swapped our bank accounts now £375 up thanks'.

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Stephanie has been a journalist since 2008, she is a true dynamo in the world of women's lifestyle and family content. From child development and psychology to delicious recipes, interior inspiration, and fun-packed kids' activities, she covers it all with flair. Whether it's the emotional journey of matrescence, the mental juggling act of being the default parent, or breaking the cycle of parenting patterns, Stephanie knows it inside out backed by her studies in child psychology. Stephanie lives in Kent with her husband and son, Ted. Just keeping on top of school emails/fundraisers/non-uniform days/packed lunches is her second full-time job.