The holiday season is a time of celebration but I think we can all agree that it is also a time of great financial stress. With the countless expenses that come with Christmas, from gifts to decorations, festive feasts to work parties, it’s easy to see how your spending can quickly spiral out of control. But, fear not! In this blog post, we will discuss 10 smart ways to save money this Christmas. It is my hope that by implementing these strategies, you can enjoy the holiday season without breaking the bank.
The key to spending less at Christmas will always be planning.
It may seem scary to think about Christmas months in advance but learning how to prepare and plan early will enable you to implement many more ways to save your hard-earned cash.
Before we start, I would like to emphasise that in the lead up to Christmas it is very easy to get carried away trying to create the “Perfect Christmas”. Now, I love Christmas, but it is important to remember that it is only one day.
There is absolutely no reason why one day of the year should leave you in the dreaded Christmas debt. So when planning for your “Perfect Christmas” remain mindful and try to keep some perspective so you do not dig yourself into a hole for January.
Create a Christmas Budget
One of the first steps to smart holiday spending is setting a budget. And by a budget I mean a rigid, non-negotiable budget. Without a budget, it’s much too easy to overspend and regret everything by January.
Start by looking at your finances and calculating a round figure of how much you are willing to spend across the whole festive season. Once you have this figure in mind, you can then make a list of all your expected expenses. This will cover gifts, decorations, food and social occasions. As well as any other plans or traditions you have.
Then, you can allocate a specific amount to each category. It is up to you how strict you are when following these figures. As the day approaches you may want to allocate more money on food and less on decorations.
The key is to stick to your overall figure and if you find yourself overspending in one category, you must take that extra money out of another category.
Your Christmas budget will be the cornerstone of your festive savings so make sure to take your time over this and really consider how much you are willing to spend.
Discuss Gift Giving with Family and Friends
I am a big believer in Christmas being made by the people you spend it with. Family and friends are so important to all of us and Christmas is the perfect time to all come together and show each other how much you care.
Many people choose to show their love for their family by giving gifts. Personally, I love giving gifts and bringing joy to my loved ones, but that doesn’t mean anyone should go into debt or feel pressured to buy someone a really expensive gift. In fact, I think the good old cliché of “it’s the thought that counts” really applies here.
If you are under some financial stress at the moment then all of your loved ones should understand that.
Consider having an open and honest conversation with your loved ones about gift giving. Decide together if you want to exchange gifts and perhaps set a price limit so no-one gets carried away or feels guilty for spending less than the other person.
If you and your friends are all in a similar financial boat then you could even suggest a Secret Santa exchange so you only have to buy one gift.
By being honest early on, you can curb your spending and avoid any awkward exchanges on the big day.
Take Advantage of Sales
One major advantage of starting Christmas early is that you can take advantage of various sales as they appear. Many shops hold a big end of season sale towards the end of September. Then every retailer offers substantial discounts during the holiday season, both online and in physical stores. Namely on Black Friday and Cyber Monday.
Whilst these sales can be a minefield when it comes to spending, as long as you prepare for them and start your research early, they can be a great way to save money for Christmas. Just be sure to shop strategically and only look for deals on items you are planning to purchase.
Give Homemade Gifts
As we have mentioned, it’s often the thought behind a gift that matters most. So why not save more money and consider giving homemade gifts this Christmas?
Homemade gifts get a bad rep but who wouldn’t want to receive a batch of homemade cookies? Whether it’s some home baking, a personalized photo album, or even a handcrafted piece of art, homemade gifts can be both heartfelt and budget-friendly.
In fact, every time I have opted to give homemade gifts they have been received even more gratefully than any pricey store-bought option.
So get on Pinterest and find some homemade Christmas inspiration. You will be astounded by how many ideas there are out there!
Start Saving Now!
Starting early really is the key! The sooner you can start saving for Christmas, the easier it will be on you and your wallet!
Don’t wait until the last minute to start budgeting for Christmas. By setting aside a small amount of money each month leading up to the holiday season, you should have a good Christmas savings pot by December and your finances will not take a big hit come January.
This proactive approach can help you avoid the financial stress of last-minute shopping and should keep you safe from the dreaded Christmas debt.
If you are reading this close to Christmas, don’t panic! Just try to set aside as much as you can on a weekly basis leading up to Christmas. Then in January, you can be really prepared and start saving for next Christmas!
Stop Sending Christmas Cards
On average one card costs £1.68, but then the price of a first class stamp is about to reach £1.25! So to send one single Christmas card it is going to set you back £2.93 (on average). But who sends just one card? What with family members and friends who are dotted around the country you could easily send 30 cards! My Grandma actually sent 120 one year!
But if you send 30 cards then that is nearly £90 you are spending! All for a piece of paper which will inevitably be thrown away by the 1st of January!
Consider ditching traditional paper Christmas cards in favour of digital alternatives. Sending digital holiday cards not only saves money on postage and cards but also benefits the environment. There are numerous websites and tools available that allow you to create beautiful digital cards to send to your loved ones.
Or you could just send everyone a little text message saying that you are not sending cards this year but you hope they have a wonderful festive season. In the digital age, there is a decreasing need for Christmas cards, so the sooner you give up the tradition the more money you could save.
Embrace Low-cost Traditions
Sometimes, the most memorable holiday moments come from experiences rather than material gifts. Embracing minimalist holiday traditions can help you save money and really embrace the true spirit of Christmas.
So instead of going out for an expensive meal, why not try volunteering at a local charity, carolling with friends and family, or enjoying a cosy evening in with Christmas movies and Hot Chocolate.
These experiences can create magical, lasting memories without draining your wallet. To tell you the truth, I often look forward to these little traditions much more than any of the extravagance of Christmas. Who needs rowdy Christmas parties when you could be in fluffy pyjamas watching some terrible Christmas Rom-coms?!
Check for Discount Codes and Cashback
Before making any holiday purchases, be sure to check for discount codes and cashback. Even the smallest discounts can add up to significant savings, especially when applied to larger purchases over Christmas.
If you have been here before you will know that I absolutely LOVE Cashback! It is one of the easiest ways to earn money passively and some apps actually let you earn cashback automatically without even thinking about it!
I have compiled all my favourite Best Cashback sites and apps into one post so once you are finished here I would highly recommend going to have a look and get downloading ready for the Christmas Shopping.
Whilst we are here, I have to discuss JamDoughnut. JamDoughnut is a cashback app that will be your best friend this Christmas.
The JamDoughnut app offers you instant cashback at over 150+ shops, restaurants, cafes and supermarkets all through gift cards.
You simply choose your desired retailer and purchase your gift card securely through the app. You will then receive a barcode that you can use in-store at the checkout.
The cashback will instantly appear in your JamDoughnut wallet as points that you can later cash out once you reach £10.
Don’t worry if you don’t spend everything you put on your gift card, it will remain there for you to use next time. You can even use any other vouchers or loyalty cards in conjunction with your gift card to maximise your festive savings.
If you are not signed up to JamDoughnut yet, you can use my referral code VY7A to get a £2 Bonus when you use the app for the first time.
Consider Re-gifting and Second-hand Shopping
Regifting doesn’t have to be taboo. If you have items in good condition that you received but don’t need, consider regifting them to someone who will appreciate them. Just make sure you don’t regift to the person who gifted it you in the first place!
Additionally, you could explore second-hand stores and online marketplaces like Vinted for budget-friendly gifts and decorations.
My family and I are obsessed with Vinted at the moment! It is very rare that we actually pay retail price for anything anymore. You might have to regularly check for what you are looking for but often you can find unique treasures at a fraction of their original cost.
If you haven’t browsed Vinted yet you need to! You will never look back!
Start a Side Hustle to Boost your Christmas Fund
To prepare for your holiday expenses, consider picking up a side hustle to boost your income. Whether it’s freelancing, selling handmade crafts, or participating in online surveys and market research, these additional income streams can help you create a hefty Christmas savings fund without dipping into your regular income.
If you are short on time like many of us are this time of year then you need to check out the 5 Best Ways to Make Money in an Hour. With these quick side hustles you can make money ready for Christmas without overworking yourself.
My favourite side hustle for boosting my Christmas fund has to be online surveys.
Eureka, Survey Spin and Survey Pop are 3 very similar surveys apps that I am currently using to make some extra cash.
You can cash out once you reach £4 and when you cash out you automatically get a quick 2 minute survey worth £1.20 so you can start making money again straight away!
I really love these apps as I have not been screened out of many surveys and when I have, I always get paid a little for my time.
There are many ways to cash out including PayPal, Amazon vouchers and many other retailer vouchers. They also have a daily poll worth 1p which you can do on each app so that is instantly 3p. It is not much but it really is money for nothing!
I have included my referral links and codes for each app below so you can unlock a short 80p survey on each.
I would totally recommend downloading all 3 as it triples the amount you can earn!
Download now to Unlock a short 80p survey on EACH app just for signing up with my links!
Eureka- Use code UCFS7S or follow this link for Eureka.
Survey Spin- Use code 5PWDPN or follow this link for Survey Spin.
Survey Pop- Use code NVVPXF or follow this link for Survey Pop.
Conclusion
There are so many smart ways to save money this Christmas without sacrificing the joy and spirit of the season. By creating a budget, shopping savvy and being open and honest with your loved ones, you can enjoy a financially stress-free holiday. Remember to don’t be afraid to start planning early and stay mindful of your spending.
With these festive money saving tips I hope you can make your Christmas celebrations truly special, no matter what your budget is.
We’d love to hear your money-saving tips for the holiday season. Share your ideas in the comments below, so we can help each other have a festive and frugal Christmas.
- How to Earn Free Amazon Gift Cards Ready for Christmas!
- 5 Best Ways to Make Money in 1 Hour
- Lazy Ways to Make Extra Money with Minimal Effort
- 15 Things you Need to Stop Buying to Save Money Today!
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