Yahoo Movies 6 ways to spend less this Christmas
Christmas is notoriously an expensive time of year, but this festive season may be one of the most challenging yet. From rising energy bills to supermarket inflation, households are suffering from the biggest cut in living standards since the 1950s — and that's even before the harsh winter months arrive.
If your budget requires you to cut back on Christmas spending, then you've come to the right place. To help keep costs low, we have spoken to the experts to find out how to have a jolly holiday that doesn't break the bank. Keep reading for helpful top tips...
1. Set a budget
Christmas cheer often comes with a hefty price tag. According to research conducted by YouGov, the average Brit spent £388 on Christmas presents last year, with those aged between 45 and 54 guilty of spending the most. From festive tipples to stocking fillers, now is the ideal time to make a list of everything you need over the holidays — and decide what you can cut back on.
"Create a budget with all of the costs you need to cover for Christmas, including food, presents, travel and decorations to help you manage your spending and find ways to save money," Sam Whillance, a savings expert at Deal Town, says. "Remember to think about all the events you'll either be hosting or contributing to, as well as special Christmas day trips like ice skating or going to a pantomime."
2. Plan ahead
It pays to plan ahead. One of the reasons we overspend on Christmas shopping is because we leave it until the very last minute. If you are able to, set aside time to get your gifts ahead of time. Keep an eye open for deals around Black Friday and Cyber Monday, as well as general pre-winter sales.
Keep an eye open for discount codes given to customers by email. Salman Haqqi, Personal Finance Editor from money.co.uk, suggests: "Sign up to emails from the shops where you will spend the most money in the weeks leading up to Christmas. You will get notifications for things such as discounts, free delivery and in-store promotions."
3. Buy secondhand
One of the most obvious and well-known benefits of shopping secondhand is the cost of savings. You can often find pre-loved goods up to 50% cheaper than you could elsewhere.
Secondhand doesn't mean second-rate. With a little know-how (read Angel Strawbridge's top thrifting tips to master the art), you can find brilliant presents that will delight under the tree. Vintage stores are great to find old books, wooden toys, beautiful baubles and winter coats.
"As well as helping you save money, buying second-hand gifts can also help the environment," Salman adds. "There are stacks of websites that sell second-hand items in good condition for a discounted price, such as Preloved and Gumtree, as well as places like Facebook Marketplace."
4. Reduce your energy consumption
Christmas is a time when we can see our energy bills soar. According to EDF Energy, British households use a combined £66 million of electricity on Christmas Day alone — a whopping 402,144,104 Kwh (or 402 Gwh) of electricity.
With the cost of living continuing to soar, it's important to start thinking about how you can begin to reduce your energy consumption at home. Some of the simple things you can do include keeping internal doors closed, drawing the curtains, draught-proofing windows and doors and avoiding the tumble dryer.
When it comes to saving energy on Christmas Day, Abigail Yearley, a spokesperson from TopCashback.co.uk, suggests: "Why not ask your guest to bring a dish or two with them? Not only will this reduce your energy usage, but it will also take the pressure off you. Making a mental note to switch off any lights when you're not in the room or won't get any benefit from them is another way to reduce your energy bills. It might be tempting to leave the Christmas tree lit up all day, but a hefty bill at the end of December might not be worth it."
It's also a good idea to reconsider your decorations and how many Christmas lights you need both inside and outside the house. Make sure the ones you decide to keep are LED.
5. Reduce the cost of your food shop
One of the best ways to reduce the cost of your food shop is to meal prep based on how many guests you are feeding — and only buy what you need.
"Sit down and put together a meal plan, to work out what you’ll be making and how many people you'll be catering for, so you know exactly what and how much of it to buy. This way, you'll avoid wasting both food and money," says Abigail.
"For extra savings, why not swap out some of the branded products for your supermarket's own range – in most cases, you're unlikely to notice any difference."
6. Play present roulette
"Christmas shopping can get very expensive if you're buying for lots of family and friends, so why not try taking Secret Santa out of the office this year? Put names into a hat and have everyone pick out one person to buy for," adds Salman. "Ask people to write down their top three preferred gifts and you're already on your way to a quicker and cheaper Christmas shop."
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