With exactly 100 days until Christmas, now is the time to start thinking about spreading out the cost and getting into good habits to make some savings in the run up to the festive season
It might seem like Christmas remains ages away, but today marks precisely 100 days until December 25 arrives.
With numerous families feeling the financial pinch this year, now is the perfect moment to begin considering how to spread out expenses and develop smart habits to make some savings ahead of Christmas.
There are several methods that will help shoppers stretch their money further, and money-saving specialists from TopCashback.co.uk have compiled their top tips and tricks for budgeting before the festive season, reports Wales Online.
Try the envelope challenge – and save £100+
The Top Cash Back experts start strong, with the envelope challenge.
“There are many variations of the envelope challenge, but the main point is that you assemble 100 envelopes, number them from 1 to 100, and put money into each envelope on a daily basis between now and Christmas day.
“Everyone’s circumstances are different so it’s completely up to you how much you put away every day. Even if it’s one pound – you’ll have £100 by the end of the challenge, which could buy a couple of presents or cover some of your Christmas dinner!”.
Pro tip: If you are savvy with your online banking, swap the envelopes for a new bank account or create a separate Christmas pot in your existing one. You might even be able to earn some interest on the cash you save.
Reserve your train tickets early – and secure the best deal
“If you are travelling by train over the festive period, be sure to book your tickets at least 12–10 weeks in advance to get the cheapest deal and have plenty of availability to choose from”, say the financial gurus.
“For extra savings, if you don’t already have one, buy yourself a railcard, which will get you a further 1/3 off eligible train tickets across the country.”
Top tip: Some websites that sell train tickets offer price tracking features as well as the option to set up alerts so that you are notified when tickets for your preferred travel dates are released.
Clear out your home – and pocket some extra dosh
“If you’ve had items lying around your house and not got used to them for a while – chances are, you are unlikely to ever need them again. One way to free up some space and make extra cash in the process is reselling your unwanted items.
“Luckily, there are plenty of apps and platforms that make finding a new forever home for your items much easier. For example, Vinted and Depop are two of the most popular sites for reselling your fashion items. Meanwhile, Facebook Marketplace, eBay as well as your local community groups are usually best for selling furniture and other home items.”
Top tip: If you find items that are in great condition and still have labels, you could consider keeping hold of them and regifting. It will save money and help the planet, too.
Choose the right time to buy presents – and snatch up cashback
When it comes to taking the plunge with those pressies, the advice from the experts is clear: “Timing is everything”.
“When it comes to buying gifts, so if you want to make some savings, you’ll have to be savvy about when you do your shopping. Keep an eye out for special deals and price reductions between now and Christmas, and look out for bargains during Black Friday and Cyber Monday sales.
“On top of that, you can also recoup some of the money you are spending, if you shop via cashback sites such as TopCashback.co.uk – which offers cashback on over 5,000 brands as well as gift cards.”
Give up the little extras – and enjoy having a little extra money in the bank
“With the cost of living going up, we’ve all been considering what we can do to help reduce our monthly spending. One easy step to follow is to go through your bank statements and review any direct debits you have arranged.
“Look out for things like unnecessary subscriptions – be that a monthly treat delivered to your door, a streaming service or even an app on your phone. If it’s something you don’t really need, go ahead and cancel it, or see if you can freeze it until the new year.
“Depending on the provider’s cancellation policy, you should get up to three months’ worth of payments back between now and Christmas.”