Saving Money For Christmas

November 23, 2018

Christmas is just around the corner, but do not worry, there is still plenty of chances to save. Whether you are looking to save towards the kids presents, or that all important, yet expensive Christmas dinner, here you will discover some of the best ways to save money for Christmas.

Work out how much you can currently save

The first thing you will want to do is to see exactly how much you currently have available to start saving. To do this, you will need to work out your monthly incomings and outgoings. From there, you will be able to see any disposable income you have left over. You can also see whether it is possible to make any savings on your outgoings. For example, could you switch suppliers to make immediate cutbacks?

A good account which can help with your savings goals is offered by Think Money. This account automatically deducts the money for your bills, placing it into a separate area. So, the money you actually see in the account is whatever you have left over. It is an easy way to keep track of your disposable income.

Consider selling anything you do not need

If you need more money to save, it is worth seeing if there is anything you can sell that you do not currently need. Consumers could sell old clothing, electronics, and furniture for example, while businesses could look into selling old machinery and equipment. It is surprising just how much money you can make this way.

Earn cashback on Christmas spending

You are going to be spending money anyway for Christmas, so why not get a little back? Using a cashback credit card is a great way to earn a little extra to put towards the cost of the festivities.

The only thing to remember here is that you will need to make the repayments in full each month if you want to benefit. That way, there will not be any interest to pay and you will receive a little extra money towards the cost of Christmas. Be sure to compare your options before choosing the right cashback card for you.

Book your holiday travel early

If you will be traveling home for Christmas, the cost can quickly add up. Therefore, it is worth booking your travel as early as possible. This is especially true if you will be traveling by train. Advance tickets can save you a small fortune. Plus, it gives you the opportunity to book some decent seats. At Christmas time you will find trains can quickly get booked up. So, if you want a pleasant journey home, it is worth booking in advance and securing a seat.

The above is just some of the best ways to save money for Christmas. As you can see, most require very little effort, yet you could save a substantial amount of money. If you follow all of the tips above, it is possible to save hundreds of pounds this festive season. Do not forget to take advantage of pre-Christmas sales too and if possible, avoid taking out a loan to fund the festivities.

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