10 Christmas Money Saving Tips to Make Your Budget Go Further
It’s only 68 days (or just under 10 weeks) until the big man comes down the chimney; and the madness of preparing for Christmas is well underway. Whilst the shops have been displaying festive decorations on their shelves since August and some very organised people will have already undertaken their Christmas shopping in the January sales; most of us are only just starting to think about shopping for Christmas presents. However, you may also be starting to worry about how you will pay for it all without overdoing it and ending up in debt in the New Year.
Being super helpful as we are here at XOKiddo; we wanted to help you out with some money saving tips to make the most of your money; meaning you can start the new year without too many money worries - even if it is the season of giving :)
- Budget Budget Budget!– every individual or family has a different budget to work with, as some will spend hundreds of pounds at Christmas and others thousands of pounds; so, it is essential to set yourself a budget for present shopping and stick to it.
- Agree who you are buying for– speak to family and friends well in advance of Christmas to agree who you are buying for to avoid any awkward situations and to avoid buying any unnecessary presents. Start a basic Excel spreadsheet and list everyone you need to buy for, their present budget and any ideas you have for them and then as you buy them, complete the spreadsheet so you have an up-to-date list to check against.
- Start a Christmas cupboard or storage area– make the most of any deals as you see them and just hide them away in an allocated storage area or up the loft, so you don’t forget where you have put them and lose presents over the months leading up to Christmas.
- Toy sales/ Black Friday/Cyber Monday – in the months leading up to Christmas, many retailers start their sales early to tempt shoppers to purchase earlier from 3 for 2 deals on toys to the massive money off events like Black Friday(23rdNovember) and Cyber Monday(26thNovember). However, be wary of some of the 3 for 2 toy deals as they do not always work out the best deal; as some retailers put their prices up beforehand. XOKiddo always takes part in Black Friday and Cyber Monday so keep an eye out for our upcoming deals at our Calendar. This Christmas we are excited to announce we are launching a special ‘ 8 Weeks of Christmas Countdown’ where we have teamed up with some fabulous small businesses to offer you amazing giveaways, tips and a deal of the week. To sign up for the alerts and make sure you don’t miss any of these fantastic offers starting soon click here
- Comparison sites– use a comparison site like Google Shopping to compare the price of a particular present so you make sure you are buying it for the most competitive price.
- Cashback sites– once you know where you are buying a particular present from, check if the retailer is on a cashback site like Quidco or Top Cashback to make the most of any cashback deals.
- Loyalty cards/schemes/money off vouchers– Make the most of your store Loyalty cards and collect your points to use as money off Christmas gifts. Tesco Clubcard for example lets you boost your points 3x to then use for a family day out; which you could invite the grandparents on instead of buying them a physical present. Remember at XOKiddo we also run our own KiddoCoins Loyalty scheme where you get coins for opening an account, making a purchase and referring a friend which can be redeemed for money off vouchers against our unisex organic kids clothing. The more you spend, the more you save!
- Cashback Credit cards – try to avoid borrowing for Christmas but if you must resort to a credit card either go for a cashback credit card; which you then pay off immediately the next month or use a 0% finance card.
- Sell unused items– Most of us have items in our garage or loft that we no longer use or need or toys that our children have grown out of; so why not make some money to then buy new toys or gifts with either secondhand or brand new? You can sell items on eBay or alternatively use no fee sites like Shpock or Facebook Marketplace.
- Give a different gift- instead of purchasing physical gifts for family or friends; why not give a voucher of your time or an I.O.U e.g. a day out, lunch or even a coffee and cake as it’s worth so much more to spend time with the people we love. Or alternatively, make your own gifts; as Pinterest has many ideas for making gifts similar to ones you can buy off the shelves but on a budget.
We hope our tips have been useful and remember Christmas is about spending time with your loved ones and not getting yourself into financial debt for the next year!