Christmas savings

[TiReDmUmone]

Hi
So I know it's just been Christmas but I was hoping to get some advice on how people save for Christmas ? With it being early in the year I thought it would be good to make a start as I have a lot of people I buy for I have a large family

lots of people i know use park

The best way to save for Xmas is to make the decision to buy less. Cut out as much present buying as you can - it’s very liberating!
Also look back at last Xmas spending. Did you waste money on tat, food, clothes etc..

Apart from cutting back, I usually put £20 a month away towards Christmas. So if I see generic things that will be useful during the year I can buy and pop them away. I’m usually pretty good at being strict with myself about it as I find that it makes Christmas way easier knowing that most of it is saved and put away for

I've heard Park is good however have been nervous to use them as people have previously told me about past schemes that have gone bust I don't know if they have protection in place ?

I have cut back on buying a few presents my brother has 6 children now So i generally get them a selection box as I've been a student nurse things were tight
I like the idea of park though it would be nice to have an amount saved up

Last year I saved fivers!! Not for Christmas but for dc spends on holiday.
Went camping in April and had £350 saved from Jan!
Same again for summer holidays.
Saved £2 coins for Xmas and had a canny bit!

If you haven't already- stash your concil tax holiday money. That's 280 for us already in the kitty. Apart from that, set up a standing order to come out as soon as you get paid and put it in another account. If you don't have another account, withdraw it and put it in a Christmassy tin.

My parents have always bought Morrisons stamps too as well. They get 2 £1 stamps per week and it pays for their Christmas food shop plus some alcohol and chocs etc.

I second buying Morrison's Saving Stamps, over the year you buy 97 at £1 each but providing you spend at least £100 in Nov or Dec you get another 3 stamps free so £100 for your Xmas shop.

We had the most horrendous Christmas with money last year. Our property flooded and the tentats moved out and dh went on sick leave that was unpaid. I'll admit I always wondered at people who saved for Christmas but they are bsnh on the money. This year I opened up a savings account and on pay day transferred 75euro in. Illdo this every month np matter what! I'm also going to buy the odd gift where I can and bits for the Christmas shoeboxes ( have not had the money to do it in three years as we have four kids) Best of luck OP!

Excuse all the typos!!

I'm saving with parks - i'm due to get £300 worth of love to shop vouchers, and i'm also doing the "save a pound a day" challenge. So i'll have over £600 come xmas and i'm hoping to cover EVERYTHING with that, including extra travel and night out costs,

This is the first time in my life I've saved for xmas so i'm looking forward to seeing how it goes. If it's not enough, next year i'll just do "save a £2 coin every day" as well as parks.

Parks are protected, surely?

Saving stamps in your local supermarket for your main Christmas food shopping. Still very worth doinas you can buy a few pounds each week spreading the cost of Christmas food. Otherwise, piggy bank at home to add £5 a week to will give you £225 by next December, £10 x 45 = £450. Easiest and safest way or open a saving account and do a dd from your main account for whatever you can afford.

:@stayathomer oh sorry to hear that it most of been hard all that going on

Some really good ideas thanks everyone I've never saved before as had little to spare being a student nurse.
I plan to save this year not really sure how much yet , I am lucky with Christmas food as we go to MIL house Christmas Day Boxing Day and New Year's Eve New Year's Day and we all take things with us but doesn't cost me much in food shopping

Thank you everyone really good ideas

NotSuchASmugMarriedNow1 that sounds good having that much in vouchers it will take the pressure off I've had a look on google apparently they are protected 😊

Whatever you do, make it automatic. If you did say £30 a month into a savings account, setup a standing order from your bank to the savings account so that the money leaves your current account the same time each month. You soon get used to the money leaving, so get used to living on what remains.

The Automatic Millionaire is a good book to read about how making things happen automatically makes them actually happen. If you say you will transfer £x per month, then sometimes you will, sometimes you won't.

@nannynick I'll have a look thank you

I have to agree with lovinglola, cutting back is one of the best things I’ve done. Sometimes you are just exchanging tat for tat and although no one wants to be the one to suggest it it’s always been greatly received.
I put money away every month £40 .
Also I used to turn myself inside out getting stressed out thinking everything had to be perfect which usually cost a fortune now I’m much more relaxed and realise it’s only one day

meold great idea about the council tax, when are the holiday months again?

Ive stopped buying for adults and the kids get money now.

@MeOldChina that's a good idea about the council tax

I've learned my work do a saving scheme so I think I'm going to put a monthly amount in there so I can't touch it
I'm also doing a change tin and going to keep filling them up

I have 18 adults to buy just in my family

Our council tax holiday months are Jan and Feb, not sure if that's the same for everywhere. I almost forgot all about it but it is a nice little chunk of money that would easily get frittered away otherwise.

The other thing i'm going try to do is to impulse save rather than impulse buy. So that every time i'm tempted by a bar of chocolate in the petrol station or a starbucks, i'm going to use my banking app to save what i would have spent on that item, however small. I'm hoping the saving will resonate more with me than just the smug factor.

That's the theory anyway!

I work out who I'm buying for, how much is my upper limit per person, add it up, divide by 12 and save that amount per month, to total complete by November.

Save Tesco clubcard points.
Cut down your list. 18 adults? I only buy for children and whoever is staying with us.
Don't buy Xmas cards.
Treat the Xmas meal as another Sunday roast. Don't go overboard.
Set up a savings account for Xmas. You'll earn the interest, not the hamper company.

Just in case you don’t know there’s also a Christmas topic full of great ideas and savings ideas all through the years.

Year!