Christmas is very much around the corner, having crept up with astonishing speed. Though Christmas is a time of cheer for many, this year it is also a time of some foreboding. Between prohibitively expensive energy bills and rising grocery costs, many are looking at a pared-back Christmas. But with a little advance thought, Christmas can still be just as fun, and just as luxurious. What saving tips are the most useful ahead of the holiday season?
Black Friday Deals
The most expensive part of Christmas is typically the gifts. Retailers charge a premium in December, knowing that buyers are more or less a captive audience – but shrewd savings can be made by paying a bit more attention to the retail markets a bit earlier.
By and large, buying early is a great way to reduce the cost burden of gifts for friends and family. However, certain events can help you save even more. Indeed, one such event is Black Friday, the American commercial event that commemorates the Friday following Thanksgiving.
It is a day on which shops and retailers hold sweeping discount sales – and a modern tradition that has made its way across the pond. Black Friday is a great time to get discounts on gadgets and devices, saving a pretty penny on the bigger gifts ahead of December.
Festive Savings Pot
In order to shore up the money to pay for gifts, food, and decorations alike, you will likely need to indulge in a spot of financial planning. Saving money can be a tough thing to do even at the best of times, but is vital ahead of Christmas to ensure you can afford everything.
You can make life a little easier for yourself by opening a new bank account expressly for the purpose of holding Christmas savings. Even just placing small sums of money in over time can help you build up your kitty, and enable you to buy gifts and food without moderating your expectations.
Budgeting
The key mechanism behind filling your festive savings pot smoothly is budgeting. In difficult times, saving money is harder than ever – necessitating a fuller, deeper understanding of your personal finances to properly maximise your savings.
By gathering financial data from your last month, you can figure out where your money is going and where you can afford to save. Ahead of Christmas, even dropping a subscription or two for a month can help you scrape some pocket money together for the Christmas turkey.
Vouchers and Rewards
Lastly, vouchers and reward schemes are your best friends when it actually comes to shopping. Reward schemes in particular are useful, and especially for the pre-Christmas food shop. Loyalty, points, and cashback programmes offered by supermarkets – whether Sainsbury’s Nectar card or Asda’s rewards app – can help you recoup tens of pounds over the course of your December shopping.
