Cutting your Christmas costs in 2020

It can sometimes feel that Christmas joy comes with a hefty price tag. Did you know, on average Brits’ spend £1,116 at Christmas?*

With 2020 being a year full of change it has never been more important to keep on top of your finances. So before the festive fear creeps in, take a look at seven ways to save money and get organised for Christmas:

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Set up a Christmas savings account and contribute a regular, but manageable sum of money each month. Treat these savings like another household bill, so that you aren’t tempted to dip into the pot throughout the year.

Create a list of family and friends you will be buying gifts for and allocate an amount for each person. When you buy their gifts, add the items and costs next to the person’s name and tick them off as you go, to help you stay on track and on budget.

Try adding a little personal touch by creating some DIY gifts – start planning early by browsing websites such as Pinterest for inspiration. Give yourself plenty of time to gather materials and work on your gifts. From homemade hampers to hand-knitted scarfs, there’s plenty of projects out there to try.

Instead of giving individual gifts, suggest putting together a Secret Santa system with your family or friendship group and set a spending limit. Everyone will benefit by receiving a gift and saving money at the same time.

Buy your Christmas cards, crackers and decorations in the January clearance sales ready for the following year. You don’t just have to stick to the January sales, there is also Black Friday, Cyber Monday and more. Make sure you put a reminder in your calendar to check out the sales.

Make sure you keep any gift bags or wrapping paper you receive. The gift bags can be reused next year and your old wrapping paper can be used in crafts or to wrap up gifts.

Save up vouchers and retailer reward card points throughout the year and put these towards your Christmas shopping. Don’t forget to shop around your local supermarkets to find the best deals. If you fancy a challenge why not try growing your own vegetables ready for next year?

Our counselling and advice service over the festive period

Whatever’s on your mind this Christmas, a Simplyhealth plan can help you. Talk to a counsellor or qualified adviser on issues ranging from relationship problems and depression to financial and legal disputes.