5 ways to save money over Christmas

According to the Bank of England, each household spends £500 extra in December! This extra money is spent on going out, eating food, drinking alcohol and buying Christmas presents. The biggest increases in spending are on music & DVDs (116%), Books (85%), Computers (68%), Toiletries (56%), Clothing (43%), Alcohol (39%) and Food (16%). With rising utility costs and an uncertain economy, there are simple tips to help tackle rising living costs. Although we all get into the spending mood at this time of year, there are certain ways to limit your spending and save on money that you would usually spend.

5 ways to save money over Christmas

Make your own decorations
Buying new Christmas decorations can cost a small fortune and if you have the time, why not make your own! If you have kids this can be a fun session of crafting. I recently wrote a post on easy Christmas crafts to make with kids with inspiration from other crafty bloggers. There are several fun ideas for Christmas decorations to make with or without kids and most of the materials you’ll probably already have at home.

Shop for presents wisely
Christmas has become so commercial in the UK. When visiting other European countries I’ve been surprised at how Christmas is celebrated traditionally without the need of buying and exchanging big expensive gifts at Christmas. Save money by looking out for 3 for 2 offers and discounts but make sure it’s a good deal. You could also be creative and put together your own set of presents. For example, Poundland has so many great offers and deals that you can easily buy several small things, put them in a little ‘hamper’ or basket, decorate with straw and ribbon and you have a little hamper full of gifts at a fraction of the pice that you’d pay elsewhere. Instead of buying CDs why not make your own compilations and give them to friends and family? Be creative and imaginative with gift ideas.

Host social events at home rather than going out
Going out for dinner can cost a lot especially when there are a lot of you and kids with big appetites are involved! Although it can be fun to go out it can also make a big dent in your bank balance! Hosting a dinner, party or social gathering at your own house can be a much better option. If you don’t want to cook for a large amount of people you could have ‘bring a dish’ themed evening or a drinks party instead. If you do go out look at deals from discount/coupons websites such as Groupon or Klook and find some bargains.

Pick ‘cheap’ days out over the Christmas holidays
Spending the day out with children doesn’t have to have to be expensive. Take a packed lunch, snacks and drinks to save on food and pick free or cheap attractions. In London, for example, all of the big museums including the Science Museum. National History Museum and British Museum are free to visit! These make great days out for kids and Visit London lists over 101 free activity ideas to do in London . Likewise, look at train deals over the weekends. Many offer huge discounts on adult and family train fares compared to visiting in the week.

Only buy what you need
This is a big one and I know it’s so easy to be tempted by Christmas offers. Write a list of food items you really need for Christmas and stick to the list when you go shopping. Or stick to a certain budget. I’d also recommend buying food on Christmas Eve. To anyone who has done this will know that there is a surplus of food at supermarkets on Christmas Eve and everything is reduced. I hate to think about how much food is actually thrown away at the day of the day! Although you might want to buy essentials beforehand in case they are sold out, there are some real bargains at supermarkets on Christmas eve and if you don’t use these on Christmas day itself you can always save for after Christmas or into the new year.

This is a collaborative post. All words and opinions are my own.

I hope I’ve given you some money saving ideas. Do you have any more tips I could add?