With Christmas just around the corner money-saving tips must be on everyone’s minds. There’s still a couple of months until the big festive day so there’s definitely still time to cut back on some spends, get a little more in your savings pot and be prepared for Christmas. After all, it comes at the same time each year!
1. Get planning
Knowing your budget is the first place to start when it comes to trying to save any money. You need to know how much money you *can* save first. Simply jot down all your incomings and then take away all of your definite bills and you’ve got your disposable income that you can save, spend and invest.
I’ve got a really handy budgeting spreadsheet that I use and I’ve created a template of, with all the formulas in ready for you for you to create your own copy of and input your budget. I use the zero-budget method which means allocating every penny of your income to something. Whether that’s creating little pots for occasions that you know you need to spend on that month such as ‘TV License’ or ‘Mum’s birthday’ or even, suitable for this month, ‘Halloween costumes’. This way, you never end up wondering “where’s all my money gone?”.
By planning out your budget for the next two months and not wasting anything, I’m sure you can pop an extra £50, £100 or even more away into a pot for Christmas treats, last minute gifts or entertaining.
Check out some of my money diaries if you’re feeling nosey about my spending!
2. Re-jig those bills
If you’ve got a spare half an hour after you’ve completed your budget above, look into what bills and outgoings you could potentially bring down. Could you shave £10 a week from your groceries bill, negotiate a different contract for your phone bill or cancel a TV subscription you’re not really using at the moment? You might even be able to save money with cheap broadband deals but it’s probably not a great time to try and switch your energy supplier so get the hot water bottles out!
3. Make a list and check it twice
November is a great time to start making a list of things you’ll need to buy for Christmas and picking things up as you see them, to spread the cost, or shopping around for the best deals. Make a list for presents, extra bits like any decorations, jumpers or cards and a separate list for your food and drinks.
Then, you’re in the perfect place to start shopping about. Try eBay, charity shops and Depop for second hand Christmas jumpers for the whole family (I’ve got a second hand haul coming up for you very soon, actually!), scour the reduced sections for party food you can pop in the freezer for that Boxing Day spread and make sure you’ve got your gift list handy when the Black Friday deals roll around. This way you know you’re buying things that you need and you can try and get them for less, too. I’m always on the look out for yellow-sticker sausage rolls on the lead up to Christmas – stock up the freezer for less and your December 25th food bill will thank you.
There’s a few reminders for little money saving hacks and tricks that we can all forget about from time to time (myself included!). Hope they help! Let me know your favourite money saving tips in the comments.