GuidesMoney Saving

How To Save Over The Festive Period

Piggy bank with Christmas hat and Christmas decorations

When we think of Christmas, we all automatically visualise our bank accounts hitting zero and having to scrape through January in order to get by.

However, this does not need to be the case. After a particularly difficult year this year, the vast majority of the population are probably looking at ways they can reduce their usual Christmas splurging and cut corners compared to previous years.

We’ve pulled together a few ways you can successfully do this without compromising your enjoyment of the festive period and can still mean that you have a very merry Christmas:

Set a budget for presents

As mentioned, this year other people will sympathise if you’re unable to spend as much on giving them gifts compared to what you may usually gift each other. Why not suggest a smaller budget to work towards with family and friends, gifting them something like chocolate models, which will be a tasty but inexpensive present you can give. Setting a smaller budget across the board will ensure that you have money left over to save.

Go Homemade

One of the easiest ways to save money over the festive period is to get crafty and make your own gifts if you want to pull your purse strings even tighter. Many of us earlier this year during the first lockdown enjoyed taking up new hobbies and pursuing our passions, so why not pick back up where you left off?

Homemade present. Knitting heart design

There’s many sources you can get help from if deciding to re-ignite your spark again hobby-wise; checking out some videos on YouTube will help you to get you started. Perhaps you might wish to crochet your friends and family some winter warmers, such as hats and scarves? Alternatively, you might decide to take up a new hobby altogether, such as painting, and gift your pieces which will surely be more cost-effective than buying from new.

Sell on

Most of us have items which we don’t give a second thought to no sooner have we got home with it. If you have some clothes which no longer suit you or you’re bored with for example, you could try earning back some of the money you spent on the item by flogging them via an app, such as Depop or Vinted

Over time, you’ll be able to build up a solid customer base and you can decide how often you contribute to your selling page. After a few items have been sold you will undoubtedly have a bit of spare change which again can go towards having a less financially bleak looking new year. 

By using these handy tips to save money, you’ll be sure to be in a more comfortable position come the new year for being more financially stable without having compromised a fun Christmas period.

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