Christmas shopping can sometimes break the bank. Given the current circumstances, it is important to secure your finances and not splurge unnecessarily. To make your Christmas merry, we’ve curated 10 superb tips that can help you save loads on your Christmas shopping ⭐Personal Finance ⭐Money Management
You can hate it, you can like it, but you cannot ignore the year 2020. This year is reaching its end, and we’re officially four days away from Christmas. While we had lost all sense of time during the lockdown, it’s quite surprising to see that the year has finally come to an end. But the eternal truth is that life goes on. As we accept the post-COVID-19 life as the new normal, we hope that the Christmas of 2021 will be merrier!
We know that the Christmas of 2020 is a little toned down, owing to the COVID-19 guidelines to prevent exposure. But don’t let that stop you from giving your loved ones their bundle of happiness. Be a smart shopper and save as you shop this festive season. Here are ten easy tips to help you save money on your Christmas shopping.
10 tips to help you save money on your Christmas shopping
Does Christmas shopping top your list of ‘fun things to do on Christmas’? We know how time-consuming, taxing, and expensive it can be. Here are ten easy tips to follow to help you keep your Christmas spirit high:
- Set aside a budget: Setting aside funds for Christmas is the essential first step. Crunch the numbers and come up with the amount you can afford to spend on your festive shopping. You may have to cut down on some of your usual monthly expenses. To create a budget, compare your monthly income and expenses and then allocate costs to other outgoings. Christmas shopping can be tricky, and you may overspend in the heat of the moment. So, keep an extra £50 – £100 for unplanned expenses. The idea is to have room in your budget for impulse spending, but try your best to stick to it.
- Prepare a gifting plan: Prepare a gifting plan, wherein you enlist people you’ve to gift, gift items, and how much will the gift cost. Once you have a budget, this step becomes relatively easy to follow. You can now allocate your Christmas money to these gifts. Having a clear layout will help you stick to your budget.
- Try to switch to Secret Santa this Christmas: The best part of the office Christmas party is Secret Santa. But what if you got this trend home from the office? Gather up your friends and family and pitch the idea of hosting a Secret Santa event for Christmas. Not only will this be a fun-fueled activity, but it will help save you all a ton of money! Set up a budget mutually and ask everybody to stick to it. This way, you’ll only have to spend on one gift, which will align perfectly with your Christmas budget.
- Check your loyalty cards: Are you one of those who are very particular about adding points to all their loyalty cards? Well, if you are, it is going to pay off! Check all your loyalty cards to see how much you have earned. Now, whenever you go gift shopping, redeem your loyalty points. Don’t fret if you only get small savings, every little penny counts. If you don’t have a loyalty card, it’s never too late to get one. Get one issued and add all points from your Christmas shopping to your card. They will, at least, come in handy the next time you go shopping.
- Check out both online and offline cashback offers: Popular stores and banks often collaborate to run cashback offers, especially during the festive season. Shop from stores and websites that provide a cashback on your shopping. It may just be a cashback of 5 – 10%, but if you’re bulk-buying stuff, you may end up with huge savings.
- Keep an eye out for Christmas discounts: Most stores have already revealed their Christmas offers. A smart way to know is by checking the social media handles, Instagram per se, of your favorite stores. Most brands disclose discount details over their Instagram and Facebook pages. So, keep an eye out for special offers and discounts by following stores on Instagram and Facebook.
- Try artsy homemade gifts: Are you a crafty soul? If you are, put it to better use. A homemade gift will not only be heart-warming, but it will also save you lots of money. You can find a plethora of DIY gifting ideas on Pinterest and craft material on Etsy. Are you the famous baker of the family? Bake some cookies and chocolates and pack them in a DIY box. Your friends and family will appreciate the warmth and the time and effort you put into your gift.
- Re-gift a present: Is reusing an old gift appropriate? Yes, it is! If you got a gift last year that you did not use, it is perfectly okay to gift it to someone who might like it. You might want to be careful with this gift. Ensure that you don’t give it to the person who gave you this gift. Before you pack this gift, check if it is in a functional condition to save yourself any embarrassment. Reusing old, unused gifts can save you a lot of money, time, and effort.
- Use dupes to your rescue: Dupes are cheaper versions of products of another brand. Brush up your internet knowledge and find out alternatives for your favorite products at lower prices. For instance, replace your Hugo Boss with Marks & Spencer’s ‘True Red’. Or, better yet, try wines from Aldi this year. They are similar in taste to high-end wines but come at economical prices. Some dupes are worth giving a shot as you might save heaps of money while enjoying a quality product.
- Check your insurance coverage: Most of us are through with our Christmas shopping before Christmas day. Buglers with ill-intent would know that there’s something worth stealing in your house. A lot of us spend on expensive gadgets at Christmas. Thus, it is worth ensuring that insurance covers all your expensive household items. Try setting up intruder alerts or alarms. You can’t rule out the possibility of a burglary, but you can be extra cautious and do your bit.
Give someone the gift of help this Christmas
Christmas is all about spreading love. Give someone the gift of your presence this Christmas. If you live with a partner, or a room-mate, offer to participate in cleaning activities. If you see that your partner has too much on their plate, cut them some slack, and assist in the household activities. You can help them do the dishes, mind the children while they work, tend to your garden, or help them cook. The idea is to be an aid for your significant other.
Set money aside throughout the year
This tip can probably come in handy next year. Calculate what you spent on Christmas the last time and divide the entire cost by 12. You will get an idea about what you need to save each month to avoid last-minute hassles. You will end up saving a little extra. Use it to treat yourself to a nice Christmas gift. Don’t just be a careful spender, be a smart saver. We hope this Christmas brings immense joy into your lives!