If you want to save money this festive season, with less than 50 sleeps to go, it’s time to start preparing now and not leave everything until Christmas Eve. This doesn’t mean celebrating early, it just means being proactive and organized. There are lots of things you can do now to cut down on costs and avoid being broke in January. So, get started today! In this blog, we will discuss 5 Christmas money saving tips that can help you save money and help make the festive period as stress free as possible.
Boost funds by up to 6% with supermarket stamps
Supermarket saving stamp schemes encourage year-long saving for Christmas, yet a loophole allows you to get a year’s bonus in one day. With food inflation and the current cost-of-living on most of our minds, any savings that can be made on our Christmas food bills will help alleviate the financial burden on our wallets and purses.
Most shops base their rewards on how much you’ve saved by a specific day or month. So, if you pay with cash the day before, the store will add up to 6% on top of your savings, but keep in mind that the cash can only be used with that store.
Find the cheapest place to buy gifts in seconds
To save money, many people turn to the internet rather than brick-and-mortar stores. Price Comparison sites help by scanning the net for the cheapest options on books, games and other items.
One of the most popular in terms of finding the best deals is Google Shopping. Google Shopping searches a wide range of retailers, including biggies such as Amazon, Currys PC World, John Lewis and Tesco.
Utilising price comparison websites or online discount codes for all your christmas purchases can help you make big savings.
Another money saving tip is pay for your Christmas spending using a cashback credit card (remembering to repay it in full) keeping more money in your pocket
Smash your Gift List by Setting Up Secret Santa Groups
If you’re not familiar with the concept, this is when everyone’s name goes into a hat and then you draw out who you’re buying for. The catch is that you only buy and receive one gift, usually within an agreed spending limit. This activity is commonly associated with office settings, but there’s no reason not to extend it to loved ones as well!
With an online tool such as Drawnames, you don’t even need to worry about drawing names from a hat anymore as the site can do it all for you with a few clicks. Just sign up and input a few key details, like maximum budget and exchange date. You can either have people enter their emails or use a sign-up link yourself. If you want to make sure you get something great, set up a gift wishlist too.
If you set up a group with a few family members or friends who you would normally buy a gift for each person, big savings can be made here by reducing your gift list and not to mention the stress of having to choose what to buy people.
Start saving early to spread the cost
According to the website finder.com, the average UK household spent £548 on Christmas presents in 2021. Many people struggle to foot it from December’s pay packet alone and end up borrowing from credit cards or bank overdrafts.
So next year, why not put money aside from January and saving it in savings account that accrues interest and has the access requirements to suit your needs. This is much better than borrowing in December and paying back later with interest. Set a Christmas budget early on and save each month so that you can comfortably afford Christmas without the need to use credit.
Start Your Christmas Shopping For Next Year in the Boxing Day Sales
If you want to get a jump on all your Christmas shopping for next year, the Boxing Day sales are the perfect time to do it. Many stores offer deep discounts on a wide range of items, from clothes and toys to electronics and appliances. By taking advantage of post christmas sales, you can save a lot of money on your holiday shopping.
Furthermore, discounts of well over 50% are often applied to Christmas cards, Christmas wrapping paper, gift tags and festive home decorations once Christmas has passed. If you have the storage space, this is the perfect time to stock up for next year and make significant savings.
Are You Already Struggling with Debts That You Need Help With?
If you are already struggling with unmanageable debts and need some help in deciding what to do about them, contact us here at Become Debt Free and speak with one of our friendly advisors. We will listen to your circumstances and discuss what options are available to you such as an Individual Voluntary Arrangement, Debt Relief Order or Debt Management Plan. Please call us today or complete the online form and we will call you back at a time that suits you
Alternatively, you can also speak with a local debt charity such as Step Change or your local Citizens Advice Bureau.