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14/12/2021

Christmas Savings Tips: It’s The Most Expensive Time Of The Year

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To (mis) quote the famous Christmas song, it's the most expensive time of the year! We have pulled together a few simple Christmas savings tips to help you survive the festive period and prevent this year's festivities becoming next year's debts.

Christmas Savings Tips

Budget, budget, budget

We may sound like a broken record, but nothing beats a budget, especially at Christmas. Instead of scouring Instagram for the perfect, unobtainable Christmas start planning for the Christmas you can afford.

That way, you'll enjoy the festive period without the constant creeping guilt that you have overspent and will enter the New Year free from the weight of your Christmas splurge.

Make a list

Take a leaf out of Santa's book and make a list of those you want to buy presents for. At Christmas, we can end up feeling obliged to buy for countless family and friends. This year, see who you really want to give to, write it down and stick to it. Chances are, those you stop buying for will probably feel relieved to have your back and forth gifting ended.

Feel bad about putting someone on the naughty list? Why not go out for lunch or festive drinks together instead; it combines your money on gifts and festivities, win-win!

Secret Santa

If you have a large family or friends group that you need to buy for your bank balance can soon feel the impact. Instead, why not suggest secret Santa to the group and set a budget that everyone should stick to. You save on expense as well as the time and hassle of picking the perfect gift for everyone.

Christmas gift cheques

They say time is money so why not give the gift of time with our Christmas gift cheque generator.

Whether it's doing the chores for a week, babysitting for the night or giving a "free pass" for a trip to the in-laws, Christmas gift cheques are not only a cheaper way to gift but they're also guaranteed to raise a smile and show someone you've really thought about them this Christmas.

Free or cheap festive activities

From Santa's Grotto and Winter Wonderlands to Christmas catch ups and work's dos, the festivities can feel like one event after another. Instead of splurging on costly day's out, why not try your own cheaper alternatives. A wine night in with friends instead of a costly bar; a stroll or drive round your local streets to view the Christmas lights; festive baking or even some festive crafts. It's surprising what you can do for little or no money when you put on your thinking (Santa) cap.

Cut back on Christmas food

We aren't telling you to put back those mince pies but, we are suggesting you avoid the Christmas aisle and instead opt for non-Christmas branded items on your big shop.

Adding a few snowflakes to your favourite biscuit's packaging can actually put up the price. Meanwhile, a selection box costs considerably more than if the items were bought individually. Instead, buy non-themed items to keep your food bill low without depriving your Christmas sweet tooth.

Avoid buy now pay later schemes

As tempting as they can be, using a buy now pay later scheme can cause unwanted expense and debts after Christmas. Put simply, if you can't afford it now, don't buy it.

With nearly two years in a global pandemic and countless restrictions on our lives, it can be even more tempting to splurge this Christmas. But, with 14% of people expecting their debts to rise over the festive period and the average person spending months paying off their Christmas debts, it's worth remembering that a slightly cut-back Christmas is better than a year spent in debt. Follow our Christmas Savings Tips, or, if you are struggling financially and want to get back on track before Christmas, use our FREE online debt advice tool.

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