Christmas Money Saving Tips

Christmas Money Saving Tips

  1. Don’t plan the perfect Christmas – first work out what you can afford
    Before you start planning, consider this: many list every lusted-for item, gifts for all, and a corking meal, then only afterwards consider: “How will I pay for it?” That’s a recipe to be broke.
    Instead, calculate your budget (see the Money Saving Expert Budget Planner), and ask: “What can I afford to spend on Christmas?” Christmas is one day – don’t ruin the whole of the next year for it.
  2. Agree with friends to ban unnecessary Christmas presents
    Consider not giving next Christmas. We’re not talking about gifts from parents or grandparents, but the ever-widening glut of friends, extended family and colleagues.
    Christmas isn’t a retail festival – we need to end obliged giving and think more about what we’re giving, to whom and why.
    If you’re yelling over your wrapping paper “what about the joy of giving?”, remember gift-giving
    creates an obligation on recipients to give back, whether they can afford it or not. For some, the gift of “not obliging you to buy for me” is actually better.
    You could always make a No Unnecessary Present Pact (NUPP) with friends, or at least agree to a Secret Santa or £5 to £10 cap on gifts.
  3. Need fast Christmas cash? Flog it
    If a few quid more in the Xmas fund would really help, act now. Flogging via eBay’s a good way to start.
    Facebook has been snapping at eBay’s heels as the place to flog unwanted stuff, though. The best bit is sales are often instant and there are NO fees, so you keep the profit.
  4. Remember, kids aren’t retail snobs
    Young children don’t value your gift based on price – they often seem more interested playing with the wrapping. So don’t shell out big bucks unnecessarily.
  5. Boring, but make a list – and check it twice
    Christmas shopping on impulse is dangerous. So make an old-fashioned shopping list and stick to it. Remember, shops spend a fortune on targeting your spending impulses – a list helps you beat them.
    Even if you’re shopping on the high street, remember to benchmark the prices using shopbots first.