Saving for Christmas

[GretaVanFleet]

We were talking at work about how many pay days until Christmas and out of the 10 of us I am the only one who saves through the year towards Christmas. I have a standing order for £100 that begins December and then I pay it to myself once the November payment goes in. I’ve done it for about 25 years or so.
Do many of you put money aside, do you try but dip into it, is Christmas a December pay panic, do you put it all on a credit card then pay it off or something else?

I don't save for Christmas as such but I always start in June/July time and normally done by September apart from a few little bits. I like to be organised.

I save £55 a month and also buy bits and bobs on top of that as well throughout the year. I also save Nectar points to spend on food / ingredients / presents.

I am saving every week since february plus watching out for wine sales etc etc . Have got a few items nothing major. I use revolut and find it very handy. I hate a panic etc etc and looking forward to less pressure this year .

We have a Christmas and Birthday’s account. This helps even out expenditure over the year, as 50% of close family birthday’s are in November.

We also made the decision to rationalise/cut down on gifts. So might have some money left over this year.

We always host. 8-12 people over about 3 to 7 days. For years now, I have put a regular direct debit into a savings account, because except when dc were tiny, I have always done Christmas.

DH covers the wine and booze however.

I cover cards (a lot) trees (I have them.delivered and decorated), all food for all visitors, presents. I save £300pm. I have a little over usually to soend on me

I don't save as such, but I've started buying bits to put aside, a heavy fleece for DS, and new ski gloves. I use Waterstones points to buy him books and will add an item or two to shopping from now on.

I'm more focussed on building a log pile that will last us until spring.

my work offers a Christmas club. I pay £150 into it every month which comes straight out of salary and it is paid to us in November. It is a great system. I also start early. I am gearing up now for Christmas 2022 so have already started putting away bits for my little boy.

I save £80 pm into a Credit Union account that is taken directly from my wages so I don't have to think about it. I take it out in Nov but it is a bit of a pita when I see things to buy earlier

Me and DH buy different things. He saves from when we've had our holiday and I save all year. If there's any leftover from the holiday money, which there usually is, he puts that towards Christmas.

I start buying stuff from now, organising activities in September and by December it's just expenditure on food, last minute things and a few presents for dh awkward to buy for people. So I spread it out in a fashion. I've never gone in to debt for Christmas.

I do the penny savings challenge on my back account. Makes about £670 which covers most of Christmas. This year I will also have about £350 of nectar points which will do the kids main Christmas presents and hopefully a few other things

We do the same - we save £100 pcm for Christmas and £50 pcm for Birthdays.

I have also made use of the Tesco savings scheme to help reduce the December supermarket shop.

We have also decided to rationalise Christmas this year, and simplify the type / reduce the budget for gifts for adults.

I also try and plan which gifts will be given to who, and track once bought, to avoid over-spending or the inevitable 'twitch' of feeling like I've not spent enough nearer Christmas Day.

@Idontgiveagriffindamn, what is the penny saving challenge, if you don't mind me asking?

I put £88 a month into our joint account which goes towards birthdays and Christmas. I like to buy things when they are on offer or a good deal.

I'm a mix of them. I start buying from July, I find things on offer around that time such as fleecy dressing gowns and toys. I have a studio account, I use that to buy for close family, never go over the limit and is paid off after a few months. I then put a few pounds a month in savings which I use for days out and to take advantage of any offers.
I've been left in a complete financial mess this year so I'm prepared for Xmas to not be as I'd hoped but now in a much better position so sure next year will be worth it.

I tend to prep for Christmas in October/November, so presents just tend to come out of September/October salary. If I want to buy something particularly extravagant then I might take it out of our general savings and put it back after Christmas.

We don't do any specific Christmas savings. We do a prettt cheap Christmas anyway (we had some very tight years and those ways have remained in place, as we realised it was a nice Christmas without the cost) plus we start the shopping in August so it is spread anyway.

I don't save specifically for Christmas. I just save less money in November and December due to buying presents.

I'm the same as you, I have Monzo pots for Christmas and Birthdays and I put £100 per month into each of them- massively takes the pressure off- I do not touch the Christmas pot during the year at all, as I truly love Christmas and don't want to be scrimping. 🎄

Our child benefit payments go into an account that we don't touch, and just let that accumulate.

We tend to start buying in September/October, but it's also handy to have the money there if we see a bargain earlier in the year

@Belatedeyebrows on 1st Jan you save 1p, 2nd Jan 2p etc until the 31st Dec you save 365p.
I do it in reverse as I tend to spend less in Jan that Dec.
Also do round up on my account I save money with every transaction. And for every card transaction I make £1 is put into a pot - both of these total about £1500 a year. Love the micro savings you can do with Monzo

I don’t overspend at Christmas so no need to save. We buy gifts for our 2 dc and have a nice Christmas meal with a few nice bits to eat over December.

I pick up things I see on offer throughout the year. This year I started in June. I also put money aside each month if I can.

We save yes , for everything!
Every month into an account for it..
Unfortunately we always spend more however we don't go into debt for it.

www.playpennies.com/features/the-playpennies-1p-saving-challenge-169894

I do this but start from the highest amounts and when I sell anything the money goes in my big tin I get from the poundshop that I have to open with a tin opener - it's really nice opening it I've done it for about 8-9 years now

Yes I save £100 a month throughout the year, never touch it. I also save 12.50 a month via Park Catalogue so atXmas I have £150 M&S vouchers so do a huge food shop (I don't drink). It works well for me as a single parent and takes the pressure off.