Readers on Facebook have also shared how they're celebrating Christmas on their limited budgets. Tips offered have included being part of a grocery Christmas club, lay-bying presents, Secret Santa and purchasing presents when on sale throughout the year.
Single mum Emma Lamont said she grew up in a family of seven siblings and as children they usually received items they needed for the year ahead, like school shoes. She receives the sole parent benefit for her and 6-month-old daughter Sophia Lamont-Francis.
"To save money I only buy meat when it's on special and I buy an entire chicken or a roast rather than small cuts as it also works out cheaper and goes further," she said.
"I also buy my fruit and vegetables from the local markets rather than at the supermarket as that is a cheaper way to shop and I grow a lot of my own."
Miss Lamont said she wanted to pass on to her daughter the value of being with loved ones for Christmas.
"My family this year is having a secret Santa - that way you only buy one present and everyone gets something. For my daughter I want her to learn at a young age that my time is of more value than a room full of presents, she will have a few presents but the main thing I will do when she gets older will be to go camping or find things we can do that are age-appropriate.
"There's no need to show them how much you love them with presents, take the time to spend it with them."