10 Tips for Saving at Christmas
Christmas – the most wonderful time of the year! However, it can also be the most expensive time of the year, between eating out, buying presents and travelling to see family. We’ve put together ten little tips to help make the money go further this festive season.
Budget your Christmas
At the end of the day, the most important part of Christmas is spending it with the people you love. Figure out what you can afford, plan accordingly and try not to overextend yourself – the thing people will remember in the long run is the time you shared together.
Vouchers may seem like a brilliant idea for hard-to-buy-for friends and relatives, but if the specific retailer goes bust, they may refuse to redeem it. Why not opt for a prepaid gift card instead – this is safer and gives the recipient more options.
Some current accounts offer discounts or cashback with certain retailers. Before you begin your Christmas shopping, check both your credit card account and current account for offers or experiences available this festive season.
Use credit cards
If you already have a credit card and can afford to pay it off each month, you may want to use it for your Christmas shopping. This is because of the Section 75 regulation which protects all your purchases costing from £100 up to £30,000.
Due to the pressure to spend in December, some companies use this as an excuse to offer special offers or unmissable deals that don’t actually save you any money. Be discerning and try tracking the prices of the items you have your eye on. Speaking of which…
There are now websites that allow you to track the changes in price of products as well as where to buy them for the least amount of money. One such site is Idealo* and another is Camelcamelcamel*, which lets you enter the Amazon URL of a product and see how its price has changed over time on the site.
Ticket prices, journey times and crowds will always increase during the Christmas period. If you know in advance that you have to use public transport to get somewhere in time for Christmas Day, it’s worth booking your ticket early or avoiding peak travel times.
Choose Secret Santa
Although a pain to organise, Secret Santa ensures that everyone gets a present and the price limit often forces people to be original and inventive. This saves you buying a present for every single friend or member of your extended family – and you can always get extras for special loved ones.
As the tide turns against single use plastics and other tat that only lasts through Christmas, making something either delicious or meaningful can show thought and consideration in the way that a plastic novelty gift doesn’t – it can be cheaper, too!
Charity starts at Christmas
Finally, if you are going to spend money this December, think about spending it where it will make the most difference. Here is a link to some of the local charities we support if you need inspiration – you could make someone’s Christmas.
From all of us here at gpfm, we wish you an incredibly Merry Christmas and a Happy New Year!
If you want advice on your pension or planning for retirement, get in touch with us today at firstname.lastname@example.org or call 01992 500 261 now and see how we can help address your financial future.
This article is for information only and must not be considered as financial advice. We always recommend that you seek independent financial advice before making any financial decisions. Investments can go down as well as up and you may get back less than you invested.
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gpfm are an independent financial planning company dedicated to the provision of personal, professional and objective-driven advice for our clients. We have been awarded the Chartered Financial Planners title by the Chartered Insurance Institute for offering high quality, independent and informed advice that meets the needs of our clients.