Monday, 9 December 2019

3 Tips For Saving Money At Christmas*

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Whilst Christmas is undoubtedly the best time of year and there is always so much excitement surrounding these last few months of the year, it can also be an incredibly tough time for many. With all of the happy things Christmas brings, it can also bring along a ton of pressure and stress that we just don't need. Some of it is put onto us by others, but mostly we do it to ourselves, desperate to make sure each year is better than the last. 
Closeup of bauble on christmas tree
You hear stories all the time of how people have got themselves into trouble by trying to buy the most expensive presents for their kids or have gone overboard on the decorations to compete with others. Morses Club offer Christmas loans (Representative 466.37% APR) and have put together an infographic on Christmas savings. It shows the extent some people feel they need to go to for the Perfect Christmas, with 33% paying for things on credit cards, 68% spending more than they initially budgeted and 26% taking on extra work. Christmas should be a time of year for everyone to enjoy so here are 3 of my tips for saving money in the run up to the big day!

Spread The Cost Of Christmas

My top tip for saving money at Christmas is to start early and spread the cost out over a few months rather than buying EVERYTHING in December. I tend to start buying presents from August/September onwards so by December the remaining budget can go on food for the festive period and festive experiences like visiting the markets. Not only do I feel 10x more organised buying presents early, but it also means I can get everything I've had in mind rather than rushing closer to the day when everyone else is out doing their shopping too. Some people buy presents throughout the year aswell, even starting as early as the January sales and there is absolutely nothing wrong with that! I think it makes much more sense to spread the cost where you can rather than having a lump sum coming out of your bank at the end of the year!

Spend What You Can Afford

Everyone's budget is different and it's really important to remember that at Christmas. Just because one person splashes out on something, doesn't mean you have to aswell. Christmas is about so much more than presents and the food. As early as you can (I'd recommend at least a few months in advance) sit down, look at your finances and work out how much you can realistically afford to put away each month and what you want your savings to look like by December. Set yourself a limit for each person you're buying for, that way you're at least less likely to buy more than you planned. Even now George and I have a limit for presents for each other because if we didn't, we really would go insane and it would end up being a waste. And if you're cooking the Christmas dinner, which can get really expensive, make a list early of everything you think you'll need and compare prices at different supermarkets.

Get Cashback On Your Shopping

I've mentioned cashback sites before on my blog but that's because they really are worth signing up too! It's free money for shopping you'd be doing anyway, why wouldn't you take advantage? My personal fave is Top Cashback and whilst it takes a while for companies to pay out, it's something that can be building in the background throughout the year ready to take out for Christmas. It adds seconds onto your online shopping and you get a percentage of your money back each time you make a purchase, it's brilliant.

If you do want to save a bit of cash before Xmas then I hope these tips have been useful. Let me know if you have others you want to share!

*Advertisement feature - this post is in collaboration with Morses Club

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Heather Nixon said...

I always buy gifts in the sale x

jennyinneverland said...

Ooh you mentioned some things here that I didn't in my post! Especially the getting cash back idea, that's a great one! x


Sophie said...

I always try to shop for gifts in the Black Friday sales to save a little money. Spending what you can afford is such an important one. It's so easy to get carried away and/ or feel pressure to spend more at Christmas x


Tonyalee said...

I try to shop throughout the year as well - and staying in budget, even though that's so hard for me! Great tips!

Daisy said...

I love how both yourself and Jenny had the same ad post to do! xD You have some really helpful tips! I think I prefer to write letters to people as a gift because words can be powerful!

Daisy xoxo | TheDeeWhoLived

Lady Writes said...

I just need to stop buying gifts for my kids then I'll be fine haha x

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