How to save money at Christmas | AD

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With Christmas right around the corner many of us will be deep into buying presents and thinking about this year’s decorations as well as the all important Christmas dinner. But sometimes the most wonderful time of the year certainly isn't wonderful for our bank balances. So how can you save money at Christmas?

Shop within your means

It's easy to get carried away with spending money at Christmas and if you've got it then it's fine but if things are a little bit tight then you absolutely don't need to go crazy. I'm a big believer in not buying presents for absolutely everyone, in fact when our nieces and nephews came along we told our brothers and sisters we'd only be buying presents for the children not the adults anymore. If things are really tight and you are struggling then Christmas loans (Representative 466.37% APR) can be an option but I'd highly recommend doing some proper research into the terms and make sure you know exactly how you'll be repaying it before you even take the loan out. Never take a loan out if you know you'll struggle to repay it.

Save and shop throughout the year

One of my best budgeting tips for Christmas is to have a pot of cash building up throughout the year that is specifically for Christmas. You can build this up a number of ways whether it's by small weekly payments, a direct debit on pay day, overtime cash or side hustle funds. I've had a separate pot of cash building up this year and it's really helped, it means all my presents have some out of this Christmas fund freeing my wages up for actual savings. 

Also I don't recommend buying all your presents or Christmas food just before Christmas, little bits bought throughout the year will stop you having to deal with big bills all in one month. Buy presents throughout the year and store them away. As for Christmas food and drink we've been adding some extras to our food shops for the past couple of months so we're not doing a big, expensive shop all in one go. Spreading the cost works out much better for your finances.

Set a present budget (and stick to it)

Have a budget in mind for what you'd like to spend on family and discuss a figure with your partner too. Agree to spend the same amount on each other and actually stick to that figure. I'm someone who loves buying presents for other people so I'd quite happily spend loads of money on someone else. By having a budget it controls my spending and gives more a figure to work to rather than just buying without really thinking.

If you're interested in how other people are saving and budgeting this Christmas then take a look at the Morses Club infographic below.

What's your best money saving tip for Christmas? Let me know in the comments.

Calling all blogging babes! I've created a Facebook group where we can all come together and discuss all things blogging, money saving and everything inbetween. It would be great to see you over there. So to be a part of a super friendly and supportive community, hop on over to Facebook and join us!

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