John Lennon’s iconic song Happy Christmas: War is Over seems more and more relevant each year. But for many of us, it is not just a desire for world peace as yet another Christmas comes around, but a desire to get our finances in order. Christmas is always an expensive time and most of us end up spending far too much then it takes us months to recover!
But is there an alternative to that? What can we do to enjoy Christmas and be generous to friends and family without getting our finances in a mess?
Here are our Top Ten money saving tips for Christmas:
Many people are daunted by the prospect of budgeting but it really does help to take a deep breath and make a list of everything you need to spend money on this Christmas. Be thorough and include EVERYTHING: not just presents but also decorations, cards, wrapping paper – not to mention all your food and drink! Once you have the numbers in black and white you will have a clearer idea of the scope of what is and is not possible. You have the chance to change things upfront rather than burying your head in the sand and being overwhelmed by debt in that long month of January!
If possible get agreement from your extended family to help each other out here. Could you agree to just buy presents for the children and start doing a Secret Santa for the adults? How much better for everyone to get one decent present they actually want than lots of tat! Also if some of the children are hoping for something special (read expensive!) then maybe several family members can buy this jointly. The main thing is to work with your family to find new creative traditions that not only save you all money but keep everyone happy in the process!
Once you have an idea of your budget the next thing to do is plan carefully what you want then shop around. Spend time researching the best deals online: you may also be able to buy online but otherwise will know the specific shops you need to go to rather than wandering around getting increasingly frustrated! Price comparison websites can help you find the best deals. Major stores and supermarkets will be competing hard against each other at this time of year – and some will have pre-Christmas sales – so it’s a buyer’s market. It can also be worth the additional journey to outlet and clearance stores if there are several things you need from them. Finally, never be afraid to haggle! It’s something that we feel uncomfortable about in the UK but many retailers now claim they will match a competitor’s price – so ask! If you offer a retailer a lower price or explain you will buy it elsewhere you may well get a deal.
Many of us have gift vouchers lying around your home: apparently around 6% of all gift vouchers are not used! So why not use the vouchers to fund some of your Christmas shopping? If the vouchers themselves are not suitable for what you need then you can cash them in on websites such as Zeek – where incidentally you can also purchase gift vouchers at a discount! Christmas is also a good time to cash in on reward points on supermarket and store loyalty cards. If you shop online there are many voucher sites such as Groupon that enable you to grab better deals on gifts and experiences from a wide range of retailers. There are also various cashback schemes such as Quidco that will refund you a percentage of the value of your shopping direct into your account. Some people use vouchers as a matter of course; for others it’s more of an effort but the financial rewards can make the effort well worthwhile.
When saving money it’s time to rethink your whole approach to gifts. Do they have to be brand new? There are so many websites that enable you to buy goods from others: some of which may in fact be brand new but others hardly used. The obvious one is eBay but there are countless others. Such sites are not only a great place to buy gifts at bargain prices but can also help you to make a bit of extra money by selling your unwanted items on eBay.
Continuing the above theme, if you have time, it is well worth checking out your local charity shops as there are all kinds of bargains to be had there. Whether you are after gifts that appear new, or something unashamedly antique or retro, they are a really good place to go. Also ideal for little stocking filler gifts for children. And knowing that you are helping a charity in the process makes it more of a win-win for everyone!
Never underestimate the value of a homemade gift. They are often much more appreciated than something off the shelf, so if you have hidden talents then why not put them to good use. Whether you can bake, sew, knit, paint, write poetry, record music – or make anything interesting at all – create your own gifts and save money whilst you’re at it. Another option is to have a go at upcycling. Look in charity shops or car boot sales for items such as wooden boxes, shelves, or small items of furniture and give them your own special makeover for a gift with a difference.
Is there really such a thing? Well we can think of at least two ways you can get gifts for free? One is to regularly scour free websites such as Freecycle: people do give things away and if your timing is right you could find just what you’re looking for. The second way is to give yourself as a gift! If you have talents to offer then why not create a homemade voucher to treat someone to something nice? This could be anything from cooking them a wonderful meal, doing their hair, having their children for a weekend, making them a new dress – whatever they need that you can provide then you could have the answer to your gift dilemma!
If you usually send a lot of Christmas cards you will know that the postage often costs more than the cards themselves! But many people would now be happy for you to email Christmas cards which can save you a lot on postage. You can even create your own cards online, using family photos and videos if you wish. If you are buying goods online look out for special offers on delivery this Christmas – some retailers will offer free delivery so shop around. If you need to send a parcel somewhere then check out discount couriers, who can not only be cheaper than Royal Mail, but will usually collect from your home.
Last but by no means least, be careful with your food and drink expenditure this Christmas. We all end up with so much food waste over Christmas that it’s just like throwing money straight into the bin. We worry there will not be enough so panic buy far too much. Plan your food carefully and think about the portion sizes you will need to avoid overbuying. There are many resources online to help you with this – including the website Love Food, Hate Waste. Take your time food shopping rather than getting caught up in the last minute supermarket frenzy; you can stock up on non-perishables in advance then plan the last few days carefully.
We hope that these money saving tips will help you to have the best Christmas ever without breaking the bank! But if you do need some additional funding to help you get through the season then do get in touch with us at Loans 2 Go!
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