The 12 saves of Christmas
The Christmas season will soon be upon us, an exciting time but also the most expensive time of the year. We don’t want you to get caught out, so our Moneywise team have put together some useful tips to help you on your way to a debt-free Christmas.
Plan ahead
Make a list, not just of the presents you want to buy but also the other things you’ll need, such as cards and wrapping paper.
Set a budget and stick to it
Nobody wants a post-Christmas debt hangover so work out what income you have coming in, what you spend on essentials like rent and utilities, and what you have left over spare for Christmas.
Use free Christmas gift cheques
Presents don’t have to be expensive, giving your time can be the best gift, such as breakfast in bed or cleaning someone’s car. www.moneysavingexpert.com/shopping/xmas-gift-cheques
Don’t buy for everyone
Make a pact to buy just one gift or have a ‘Secret Santa’ where everyone buys a gift for one other person for a set amount.
There’s more information about Secret Santa here.
Shop early
Last minute shoppers often end up spending more so make the most of pre-Christmas offers. Check comparison websites to find the best deals or buy through cashback sites such as www.quidco.com or www.topcashback.co.uk.
Be a practical Santa
Every child loves a bulging Christmas stocking so how about topping up with practical presents like socks, pyjamas or toiletries.
Be creative with wrapping
Don’t spend a fortune on fancy wrapping paper. Recycle from old gifts, buy in bulk from discount stores or involve the kids by using parcel paper, paint and Christmas stamps.
Save on the festive spread
Buy a smaller turkey and then go large on cheaper side dishes like roasties and carrots. Switch branded foods for cheaper alternatives or frozen food.
Share the load
If you’re having lots of people for lunch, ask them each to bring a dish or food item. Make it fun by having a raffle with people pulling what they will bring out of a hat.
Check out local entertainment
Save money on festive outings by seeing what’s on for free, such as a visit to see Santa at your nearest shopping centre, light displays, carol services at local churches or local treasure trails. www.treasuretrails.co.uk.
Plan ahead for next year
Try to buy Christmas gifts in the sales, especially toys. Bargains will cut the price of Christmas 2022.
Remember!
If you’re struggling to manage your money or debts, please contact the Moneywise team on moneywise@ravenht.org.uk or 0300 123 3399! And remember, we’re here to support you!
