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

Martin Lewis wants parents to think before getting into debt

Martin Lewis offers Christmas warning
(Image credit: Getty images / Future)

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 (opens in new tab) and pay their energy bills.

With the cost of living crisis (opens in new tab), 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 (opens in new tab) 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.'

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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 (opens in new tab), 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 Lowe
Family Editor

Stephanie Lowe is Family Editor at GoodTo covering all things parenting, pregnancy and more. She has over 13 years' experience as a digital journalist with a wealth of knowledge and experience when it comes to all things family and lifestyle. Stephanie lives in Kent with her husband and son, Ted. With his love of choo-choos, Hey Duggee and finger painting he keeps her on her toes.