3 Easy Ways to Start Saving For Christmas
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With just under six months to go until the big day, here are three quick and easy ways you could start saving for Christmas today
It’s just over halfway through the year and dare I say it, just under six months until Christmas.
I must admit I am way behind my usual gift-buying schedule and with me being on Maternity and my husband currently retraining, money for Christmas this year is going to the tightest it’s been for a while.
I need to get sorted so I’ve come with a few simple ways I’m going to start saving for Christmas now that’ll hopefully see me have some cash stashed away by the end of the year.
3 Easy Ways to Start Saving For Christmas
With that in mind, I’ve come up with three super simple ways to start putting money away ready to start shopping with later in the year. Thinking about this now, rather than having a mad panic in the run-up to Christmas could save stress and stop you from getting into debt.
1. Start Saving For Christmas with Bank Account Skimming
Bank account skimming is a super simple way to save if you’re a fan of internet banking. All you need is a separate account to transfer money into.
Here’s how it works:
Choose whether to transfer money at the end of each day or week, then simply round down to the nearest pound and transfer to a savings account. This method only saves pennies at a time but it’s so little you’ll barely notice it and if done often enough you could have a nice little savings pot by the end of the year.
Example Of Bank Account Skimming
Say you have £55.63 in your current account. At the end of the day you would transfer 63p into your savings. The next day, after a bill had come out, you have £43.28 remaining.
In this case, you would transfer the 28p – and so on. You could also do larger amounts round down to the nearest £5 if you feel you are able.
If you’re looking to have a completely Debt Free Christmas sethemoneysavingmum.com/5-ways-to-have-a-debt-free-christmase this post from the Money Saving Mum
2. Use Money Off Coupons to Save
Using money off coupons to save onto a gift card to spend later in the year is one of my favourite ways of saving for Christmas.
Here’s how it works:
Say, for example, you would usually spend over £50 at Farmfoods on your weekly shop and you have a coupon for £5 off a £50 spend.
Use the coupon for £5 off your shopping then put £5 on a gift card. Repeat this each week, adding money to the same gift card each time.
You would have spent £50 anyway so won’t notice the difference in what you’ve spent but if you do it every week or month you’ll have a fair bit saved by Christmas.
I know farm foods don’t sell gifts but it could give you a free normal weeks shop in December and then you could spend the normal shopping money on presents elsewhere.
This could be applied to vouchers at any supermarket including Sainsbury’s who are fab for gifts and clothes and Morrisons. Newspapers and magazines are great places to find both coupons and conditional spend vouchers (eg. £5 off a £40 spend). Also, remember to check the leaflets and junk mail that comes through your door.
This method works well if you struggle not dipping into cash savings.
3. The ‘Pay Yourself First’ Method of Saving
This method may involve a closer look at your finances overall but could be a game-changer if you’re someone who earns well but struggles to save for Christmas.
Rather than saving what’s left at the end of each month or saving money after all the bills have been paid, this method involves looking at your savings as if they were a bill that must be paid. You include savings as part of your monthly outgoings so that they can’t be overlooked.
Looking at savings as a necessity rather than ‘if I have enough left’ should help change your mindset and have a nice stash saved in time for Christmas.
If you’d like a more detailed guide on how to do this method you can find one here.
If you want more money-saving ideas check out the personal finance section over at mydreamality.com
