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Saving Money at Christmas

Although the festive season might seem far away at the moment, it has a habit of sneaking up on you. While this time of year is happy and fun for many, it can also be a cause of financial stress, too. Given the sheer volume of gifts, food, decorations and everything else that comes with the festivities, the cost adds up very quickly. To avoid worrying about how you’re going to pay for all the trimmings this Christmas, here are some useful tips on how you can save money this year.

Plan Ahead

It’s always easier to budget if you plan. Set yourself a spending limit on gifts for the kids, your partner and other loved ones and stick to it. You should also think about how many guests you will be having to visit during Christmas – are your parents staying with you this year? Any siblings? It’s great to have the family altogether during this time, but if hosting a full house is going to be too much, don’t be afraid to say no. At the very least, ask your guests to chip in to cover the costs. 

Take Advantage of Sales

In the run-up to Christmas, there are always big sales events that you can take advantage of. For example, using these Black Friday vouchers will help you make the most out of these huge sales. Not only can you purchase great gifts for people and brilliant prices, but you can also stock up on the necessities you might want to have at home during the celebrations, for example, food and drink deals, board games and entertainment. 

Start Saving Early 

You don’t have to put a small fortune away each month, butputting away even £10 to £20 a month over the year could help you out when December comes. You can put this money towards gifts and food or simply keep it as an ‘in case of emergency’ fund for last-minute plans and purchases. There are even dedicated Christmas savings schemes available with certain stores that could be useful to you. 

Make Your Decorations

It’s very tempting to buy new Christmas decorations each year, especially if your old ones have become a bit battered in storage. However, they can end up being expensive purchases and cut into your Christmas budget quite a lot. To avoid this, why not be creative and make your decorations? It could be a fun activity to do with the kids, or you could enjoy a glass of mulled wine with your friends instead! 

Reduce Going Out 

Another large expense during the festive period is socialising. Whether it’s your office party, friends wanting to go out for drinks and dinner or visiting the Christmas markets, before you know it, you’re out at least once every weekend in the run-up to Christmas. While it’s always nice to enjoy the atmosphere, if you want to stick to a budget, it’s best to avoid too many outings. To still feel part of the festive spirit but save some cash, invite friends and family to yours for New Year’s Eve or a night in to enjoy Christmas movies, games and drinks instead. 

Enjoy your Christmas this year without worrying about your budget by using these top tips.

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