Christmas can be a pricey time of year. We've put together our top tips to save you money this festive season so you can worry less about the cost.
Set a budget
Setting a budget for all your Christmas spending lets you know how much you need to save in advance. This can be a handy way to keep motivated to save and spread the cost across the year.
Make a list of everything you might need to spend money on, such as:
Stocking fillers – this is a perfect chance to add the homemade touch.
Gifts – make sure you include the postage costs here if you’re buying online.
Decorations – buying a new tree every year will increase your costs here.
Food – if you’re hosting, this could increase your budget by a lot!
Travel – booking in advance can help make trains cheaper.
Making a list will help you to track your spending and can also help with organisation!
You won’t be the only one feeling the pinch this Christmas, so why not set up a Secret Santa with your family and friends?
If you’ve never done it before, instead of buying everyone in your family or friendship group a present, you’ll only have to buy one. You draw names with your chosen group and buy a present for the person you are given. You don’t tell them until the big day!
Secret Santa is a great idea for bigger groups as it saves both money and hassle. It can also mean that you can pick out a really thoughtful gift for one person, instead of a lots of general presents.
Online tools like drawnamesare a quick easy way to set up your Secret Santa and people can even add a wish list.
Buy at the right time
On the run up to Christmas, you’ll likely find plenty of festive sales – but try not to get carried away!
You could also consider a ‘potluck’ style meal. This means that everyone who is coming for dinner brings a dish, this saves one person buying and cooking everything.
Save throughout the year
After Christmas is over, you can start saving for the next one. It may seem like a long time away, but putting away even a small amount every month means you’ll find it easier to pay for next year. Following a savings challenge could help you get into the habit.