It has been estimated that a typical household spends nearly £650* on Christmas presents alone each year and as it’s just around the corner, it’s time to start thinking about ways you can save money in the run up to such an expensive time.
Here are a couple of helpful tips to get you started:
Saving in time for Christmas
Set a budget
Make a list of everything that you need to buy along with estimates of how much you think they will cost. When you have finished, total it up and divide it by the number of weeks or months (depending on how often you get paid) there is left until Christmas. This will give you an idea of how much you will need to save out of every pay cheque.
Next year, start saving early
Although Christmas seems a long way away in January, the longer you save the more you’ll have to spend come December. What’s more, you’ll be able to pay in cash for your Christmas goodies rather than being over faced with paying a large amount in one go.
Open a savings account just for Christmas
If you like to spend, why not open a separate account for your Christmas savings, this will mean that it’s separate from the rest of your money, which should stop you being tempted to spend it!
Shopping
Shop around for presents
If you already know what presents you will be buying, look at some price comparison sites online before hitting the high street to find out where you can get the best deal.
Try to resist treating yourself when out shopping
One of the hardest things to avoid is treating yourself when you’re buying Christmas gifts. Instead of buying it, make a note of where you saw it and go back during the January sales, you might be able to get yourself a great bargain!
Love2shop – The High Street shopping card
If you’re an existing Provident customer, our Love2shop card is a perfect way to make buying Christmas presents more manageable. The card can be spent in 24 of your favourite high street retailers including Argos and Toys ‘R’ Us, plus it comes with some exclusive discounts. Instead of paying for all of your gifts up front, the Love2shop card allows you to pay in small, manageable weekly repayments.
Love2shop – The high street shopping voucher
If you will be buying most of your Christmas presents on the high street, our Love2shop vouchers are a perfect way to pay for your items. They are accepted in all of your favourite high street stores including Argos, New Look and Wilkinson’s. Alternatively, if you’re stuck for gift ideas, they’re perfect to give away as presents so your loved ones can treat themselves.
Food
Provident hampers – Great choice, Great value, Great brands
Provident hampers are a great way to save on your Christmas food shop as you pay for your hamper in advance, through small and manageable repayments over 45 weeks. This means that all your food is paid for before Christmas leaving you with one less thing to budget for. There are a large variety of hampers to choose from, with repayments starting from as little as £1.15 a week! What’s more as we deliver the hamper direct to your door, you get to avoid the crowds in the supermarkets and you can be certain that there won’t be any nasty surprises at the checkout!
Think carefully before buying special offers
Yes, it may be a good deal but do you need it? Supermarkets are great at offering 3 for 2’s and although they seem like a bargain, do you really need 3 boxes of mince pies? There’s no point buying something that isn’t going to get eaten.
Travel
Travelling at Christmas
As the demand for travel increases at Christmas time, the cost of travel does too. Save money by booking any travel arrangements early and during off peak hours.
Petrol
If you will be using your car over Christmas, make sure that you buy the cheapest petrol. Use http://www.petrolprices.com/ to find the cheapest fuel in your area.
Hotels
If you’re staying in a hotel over the Christmas period, book your room well in advance in order to get the best deal. Hotels increase their prices as they begin to fill up so you’re best booking early when prices are lower.
Christmas trimmings
Christmas cards
There are a number of ways that you can save money on Christmas cards. Instead of buying them, if you have kids why not get them to make some for your family and close friends. Alternatively, why not send an eCard, there are a number of websites that allow you to create your own and a lot of them are free! Finally, if you’re posting Christmas cards, do so before the 18th December so that you can send them second class and they will still arrive in time for the big day.
Buy an artificial tree
Rather than going for a real Christmas tree, buy an artificial one that you can use year after year. However, if you do end up buying a real tree, try to buy one at the end of the week as many places will reduce their prices in order to sell them before the weekend.
If you still feel like you may need the help of a Christmas loan to tide you through the festive period, then we may be able to help. We could offer you a small Christmas cash loan from £100-£500 over 14 – 52 weeks. If you are interested in applying for one of our loans, visit our product page for more details or click here to apply.
* http://www.moneysavingexpert.com/
These hints and tips are for information purposes only and do not constitute any advice or recommendation. Your attention is drawn to the website Terms and Conditions
