How to Save Money at Christmas 🎅
The average British family will spend more than £800 at Christmas, with that in mind it’s no wonder that many families are starting to feel the pressure of the fast approaching Christmas looming over them! But it is possible to be money savvy during the festive period without limiting the fun.
Follow my top tips below to have a money savvy Christmas (& a frugal new year)…
Start Saving Early
Paying for Christmas out of December’s wage alone could prove to be quite a challenge, so it makes sense to save up as much as you can beforehand. The earlier you start saving, the easier it’ll be to put aside a small amount each month.
Automatic savings accounts – These clever online bots calculate how much you can afford to save each month & add then to savings account (with a very nice 3%+ interest rate). I use Plum for my automatic savings as it updates me on my spending too…
Christmas Savings Schemes
These schemes allow you to pay in throughout the year & around Christmas you’re given gift cards/cash amounts to spend in store. Christmas Savings Schemes are fab if you need a little shove in the direction of monthly saving. Here are the different types of Christmas saving schemes:
Supermarket ‘Christmas savings stamps‘ scheme – These aren’t FSCS protected, but they do pay up to 4% interest, and it’s usually paid solely on what you’ve saved by a set date. Another thing to note is that you usually have to spend the cash at the specific retailer (they’re effectively locking in your custom).
Credit unions’ Christmas clubs – These tend to be linked to an existing credit union account (which has FSCS protection). Some credit unions now offer cash ISA’s as part of their savings range. Find your local Credit Union via the Find Your Credit Union website.
General Savings Account/ISA – Often your bank will not go out of its way to offer you the best savings options for you – you’ll need to do your own research, check the savings options your current bank is offering & what interest rates/bonuses they have (in some cases it may be worthwhile switching banks).
There are some things to be cautious of when considering Christmas Savings Clubs:
Many Christmas savings clubs don’t pay interest. If the company that you’re a savings club member of were to go bust, your savings wouldn’t be protected by the Financial Services Compensation Scheme.
Use Gift Cards to your Advantage
Zeek is my saviour! You can buy gift cards for a range of shops/brands at a discounted price and sell gift cards that you don’t want. They’re also currently offering a £5 bonus to new users when you sign up through a friend!
Loyalty cards can be a really useful way to save money on your shopping especially if you shop at a particular store quite often. If you’re not a fan of carrying lots of little plastic cards the stocard app lets you enter all your loyalty card details into the app storing them all in one place. Loyalty cards that would allow you to build up points that you could redeem around Christmas include:
Boots Advantage card, Sainsbury’s Nectar card, M&S Sparks card, Tesco Clubcard, Morrisons More loyalty card, Co-op’s membership scheme, Starbucks Card
For my full guide to loyalty cards, including how much you can really earn from each scheme visit my loyalty cards guide.
Amazon’s Best Deals
There are loads of money-saving sections on Amazon that the average buyer isn’t aware of, if used correctly Amazon can be a paradise for bargain hunters! Here are my favourite money-saving features:
Another useful feature that Amazon has is Amazon Prime – this gives you unlimited FREE one-day delivery, as well as other perks such as access to songs and playlists, exclusive offers and priority access to lightning deals – super helpful for last minute Christmas buying!
Earning Extra Money with Side Hustles
There are tons of website that allow you to make money by completing offers, filling in surveys, watching videos, mystery shopping and more. You can also use the websites/apps below to get some bonus money TODAY…
Cleo (£2.50 Cash) – Once you’ve set up your “Cleo wallet” you’ll be credited £2.50 – you can withdraw this straight into your bank account.
Monese (£5 Cash) – When you first download the app and input code N9DQMPHE you’ll get a bonus £5 on your first £10 deposit. You’ll can use this money like a normal debit card.
Use Freebies as Stocking Fillers
Free Food/Drink/Beauty Items – you can collect a range of FREEbies from your local supermarket & more with the Shopmium App!
Free Photos – Order free photos from your phone and they’ll be delivered to your home within a week! All you have to do is download the Free Prints app here, enter code ‘ejackson464’ and select your fave photos to be printed (you might have to pay P&P depending on the current promotion)!
Free make up – become an Ambassador for Marc Jacobs Beauty and get sent samples to review.
More Freebies? In the past week I’ve signed up for free samples of tea, chocolate, sweets, fragrances, makeup and more (don’t tell my family/friends), but I often save these free samples up and add them to gift hampers/use them as stocking fillers. As soon as I spot a freebie I post it on my social media accounts so make sure that you’re following me!
Switch Energy Provider & Get £50
If you haven’t switched energy provider in a while you need to do this asap, often with energy providers you will find almost every time that you’ll get a better deal when you switch! Bulb are super cheap, renewable and they offer £50 when you switch!
Buy Cheap Experience days!
Experience days make the perfect thoughtful gift for your non-materialistic friend! Buy them a unique experience; from spa days, track days, pamper days, for both individuals & couples.
There are often a range of offers on this type of gift and I happen to have found an offer that is too good to miss:
Cashback is a cash reward that you receive after making a purchase through a particular website – It really is a no-brainer when it comes to buying Christmas presents, why not make Christmas a little easier by getting some of your money back from your Christmas shop?!
While this guide is specifically for Christmas, Cashback is something I would recommend on all of your shopping, regardless of the time of year!
Have you got any Xmas money tips? Share them below…