With the current cost of living crisis, Christmas is looking set to be more expensive than ever.
With less than two months to go until the big day, planning ahead for the festive season is crucial. Luckily, one money saving expert has shared their top tips for coping financially during Christmas and making the most of your money.
Personal finance editor, Salman Haggi, knows how stressful Christmas can be on families. But by taking some of this advice into account, it'll ease off some of the pressure.
Here are some of the ways to save money at Christmas, as reported by Hull Live.
Play present roulette
If you're buying gifts for a lot of people, it can end up being very expensive.
Instead, try doing a Secret Santa with your family. Put names into a hat and have everyone draw just one name to buy for.
You can also ask people to write down their top three preferred gifts and you're already on your way to a quicker and cheaper Christmas shop.
Sign up for email lists to get discounts
Most online stores send out regular discounts and offers to customers who are signed up to their mailing lists.
Think of the shops you buy from most often in the run up to Christmas, and get signed up on their website.
You will get notifications for things such as discounts, free delivery and in-store promotions. The experts say don’t forget to take advantage of pre-season events like Black Friday and Cyber Monday too.
Christmas cashback
Sign up for free to a cashback site, then click through to buy something. The site will get paid for sending traffic to the store and you’ll get some of it back, saving many who do £100s on their Christmas shopping bill.
It's a good idea to search for the cheapest deal, then check to make sure that cashback is available. You can also use a cashback credit card, earning you cashback on your purchases throughout the year that you could spend at Christmas.
Buy second hand
Not only does this help you save money, but it also helps you save the environment too.
But according to research by preloved site Vinted, only 1 in 6 people plan to buy solely second-hand gifts this year.
There are plenty of websites that sell second-hand items in good condition for a discounted price, such as Preloved, Depop and Gumtreee, as well as Facebook Marketplace.
Plan ahead
Although it's easy to wait until the last minute to get your shopping, it could be cheaper if you take advantage of sales all year round.
For example, January sales, end-of-summer sales, Black Friday & Cyber Monday are all sales periods where you can take advantage of cheaper prices for your Christmas shopping.
Check for discounts with your current account
Certain current accounts offer discounts and cashback when you spend money at specific shops.
If yours doesn't have any of these benefits, consider switching to a better deal for you. Many banks will also offer an initiative for you to switch, like a lump sum of cash. These can help you save money on your spending this Christmas.
Combine online orders
Depending on where you're buying from, shipping costs can be expensive.
If you see the perfect gift for someone, don't buy it straight away - instead, have a look to see if there are any other gift options for friends or family on the site too. By doing this, you'll save money on shipping costs.
Track your spending
It can be easy to get carried away when Christmas shopping.
To avoid this, create a budget and stick to it. Future you would be much happier if you track your expenses as you go, so you don’t end up overspending and ruining this month’s and next month’s budget.
Join a Christmas savings scheme
Schemes such as Park Christmas Savings and Variety Christmas Savings Club are designed to help you spread the cost of Christmas year-round.
In return for regular monthly payments from the start of the year, Christmas Clubs offer savers vouchers to spend on food, drink and gifts in time for Christmas that same year. Alternatively, open up a savings account and put a small amount away each month to save for the big day.
Dedicate one day to Christmas shopping
Getting it all done in the one day can help you avoid overspending, as well as leaving it to the last minute.
If you're able to, block out just one day to do all of your Christmas shopping, which could help to save you time and money.
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