Christmas Without the January Hangover

Our Favourite Wealth Coach Is Back

It was freezing outside on Wednesday morning, but the MIX56 studio was lovely and toasty – which, as it turns out, is a bit of a treat for our monthly money guest.

Sara Jane Maxwell admitted she’s not a big fan of having the heating on. Purely because it makes her tired, you understand. Nothing to do with the gas bill. We totally believe you, Sara.

We’ve got loads of new listeners across the county now, so a quick reset: what actually is a wealth coach? It sounds a bit posh, doesn’t it?

Sara was clear that it’s absolutely not. It’s about helping people understand their relationship with money – the mindset as well as the practical stuff, like knowing what you’ve got and what you want. She runs workshops on everything from tax and mortgages to pensions, budgeting and, very timely, Christmas spending.

(Quick aside: I asked her if she’d heard of mogging – Collins’ Word of the Year, meaning to outshine or outperform someone. She hadn’t. Neither had I. Sounds like something Walter would do to next door’s cat.)

Cutting Through the Budget Hype

Before we got festive, we tackled last week’s Budget. Everyone talked about it, the national news went big on it, and the leaks beforehand had us all braced for the worst. Sara’s take was refreshingly calm: if you worry about something before it happens, you end up worrying about it twice – and it might not even happen.

Her advice is to ignore the noise and ask one simple question: how does this actually affect me and my family?

For most households in Cheshire, the answer is: carry on, business as usual.

A few things are worth knowing, though:

• Income tax thresholds stay frozen until 2031. As prices go up, that quietly means less money in your pocket – so it’s a good time to budget and build a savings plan.
• A £100 Household Energy Payment for homes in council tax bands A to D in England, due from January. You can check your council tax band on GOV.UK.
• The side hustle allowance is trebling from £1,000 to £3,000 from April 2027. So whether you’re the tarot card reader on Warrington Market or doing a bit of window cleaning, that extra money is a big deal – and a nice way to test out a business idea in its first year.

And the gherkins? Yes, the tax on imported gherkins has gone. Sara loves them (she’d had some that morning). I would never eat a gherkin. Neither would our listener Marion. It’s a good example of the stuff that makes headlines without making much difference.

Why Starting Your Christmas Planning Early Pays Off

One in ten of us are already thinking about putting the tree up. No judgement – but Sara and I are both Christmas Eve people. Her worry is that the longer the build-up, the more we’re tempted to keep spending to make it feel more joyful.

Her answer? Start planning early, even back in September or October. If you’re paid regularly, you’ve got time to put money into pots so you’re ready for Christmas, rather than reaching for the credit card.

Beware the Christmas WhatsApp Groups

We’ve all got them. “When are we going out to celebrate?” Before you know it, every weekend is booked, and even at £20 or £40 a time, it all adds up. You’re probably exhausted, too.

Sara suggests mixing it up: a games night, something creative, or a wrapped-up winter walk followed by a hot chocolate. It doesn’t always have to be a night out.

The Sneaky Costs – and the Power of “No”

Then there are the hidden costs: the cards (have you seen the price of stamps?), the new sofa “because people are coming round”, and presents we buy simply because we always have.

I once worked with someone who was still giving their 30-year-old niece £50 to £100 every Christmas – while worrying about how they’d afford it.

Sara’s tip is to ask: do I actually want to do this? And you don’t have to say “I can’t afford it”. Try “it’s not in my plan this Christmas”. Being honest often gives everyone else permission to do the same.

Her favourite swaps include Secret Santas with rules (a fiver, and it has to be as funny as possible) and one brilliant idea from a workshop: a family gingerbread house competition over Zoom, for about £15 each.

Credit Cards: Be Intentional

If some spending has to go on a card, Sara says do it mindfully – look at a 0% option and have a plan to clear it in January, February and March.

Then use that pattern to start saving three months earlier next year. She sees an influx of people every new year who’ve used debt and want to break the habit – whatever their income.

Sara’s Christmas Money Challenge

Her final tips:

1. Write it all down. Keep a physical record of every part of Christmas and what it’s truly going to cost. That “£100” food shop can easily turn into £400.
2. Talk about it. Tell the people you live with, your friends and your family. Make it about trying something more fun, not more restrictive.
3. Play “this or that” with the kids. If we spend less now, we’ll have more for Easter or a summer holiday. It’s a brilliant early lesson in planning.

Sara has a free Christmas planning sheet – email the show and we’ll send it out.

Sara Jane Maxwell is back with us in January. Find her at wealth-coach.co.uk or on Instagram, and catch up on her last visit: Why Money Education Matters.