7 ways to start saving for Christmas now

October 12, 2022 • Chris Bardsley

Saving for Christmas this year might seem daunting, especially for those already struggling to make ends meet with rising living costs. However, with the cost of living crisis affecting so many families across the country, it is more important than ever to start thinking about ways to cut back on spending during the holiday season.

However, before we begin, remember that the holiday season is about more than just giving and receiving gifts. Spending time with loved ones and creating memories is what truly matters. So, focus on what is most important to you this holiday season, and don’t let the stress of gift-giving ruin your enjoyment. And hopefully, with a little help from us, alongside some planning and preparation, you can prioritise saving for Christmas without breaking the bank.

How to save for Christmas when you’re tight on cash

Start some new Christmas traditions

Christmas is a time when many of us overspend. If you're looking to save money this year, why not start some new traditions? A secret Santa with your family can be a great way to reduce the amount you spend on gifts. You will only need to buy one gift instead of trying to spread your budget over numerous people. A reverse advent calendar is another great alternative to your usual Christmas traditions. It sounds like an interesting idea, right? Instead of spending money on small items for your family advent (or munching chocolates every day!), you could clear out the toy cupboard, streamline your wardrobe or declutter your home - donating something each day to a charity instead.

Don’t forget to save for decorations and social events

Christmas is a time for giving, spending time with loved ones, and decorating our homes to make them feel warm and inviting. It's also a time when our bank accounts can take a hit, especially if we're not prepared.

With Fair for You’s Shopping Card, you can spread the cost of your online and in-store purchases at your favourite high street retailers (available exclusively to our Good Payers Club members). Apply for an initial loan between £50 and £350 to cover your festive decorations - Dunelm always has a magical Christmas range available around this time of year!

Avoid overspending during the holidays this year and start saving for festive decorations and social events a few months in advance. This will help you stay within your budget and enjoy the holiday season without going into debt.

Share your worries with friends and family

During the festive period, it's common to spend time with friends and family. If you're struggling with money worries, it can be difficult to enjoy yourself. You may feel like you have to put on a brave face and pretend everything is okay.

But it's important to remember that you're not alone. Many people are in the same boat as you, and it's okay to reach out for help. Talk to your friends and family about your money worries. They may be able to offer support or advice.

There's no shame in admitting that you're struggling with money and reaching out for help. If you're really struggling, reach out to an organisation, like MoneyHelper, for financial advice and money management tips. Citizens Advice can also provide free, impartial advice on a range of money-related issues. With the right support, you can get through this tough time.

Spread the cost of Christmas essentials with Fair or You

Whether your oven’s on the way out or your fridge is starting to falter - Fair for You is here to help this Christmas. You can cook Christmas dinner with reliable kitchen appliances from the Fair for You retailers’ catalogue - and spread the cost over monthly payments. Check to see if you’re eligible for an interest-free loan with Fair for You on our website.

Make Christmas the best it can be with a little helping hand from Fair for You.

“Thank you so much Fair for You! I am able to cook home cooked food for my son, and we are able to have Christmas in our new home. Very easy to apply, quick response, very helpful staff members can look at everything online and even tells you if the item you are looking at is in stock or not and when it will be in again.” - Laura

Make a plan for your shopping

There's nothing worse than overspending during the holidays. Not only does it leave you feeling stressed and anxious, but it can also quickly put a damper on your holiday cheer.

If you’re concerned about the cost of food this Christmas, stock up your freezer at Iceland using the Fair for You preloaded card. The Food Club card is perfect for those struggling to afford the rising cost of groceries and all the added extras at Christmas time. Those extra snacks and meals for the kids really do add up. Apply for an initial loan between £25 and £75 and, if your application is successful, you will receive a preloaded card within 5 to 7 business days. Repayments are set at just £10 a week, and you can choose which day they come out of your account.

Making a plan for your Christmas shopping is a great way to avoid overspending. Sit down and figure out exactly what you need to buy and how much you're willing to spend on each item, you can save yourself a lot of money in the long run. By having everything mapped out ahead of time, you can avoid last-minute impulse purchases that can quickly add up. It's the best way to ensure a stress-free and affordable Christmas for everyone involved.

Avoid the sales

The holidays are a joyous time of year, but they can also be financially stressful. Between buying gifts for loved ones, attending holiday parties, and travelling expenses, it's easy to overspend. And that's where Black Friday and Cyber Monday sales come in.

Both of these sales can be tempting but resist the urge to take advantage of them. Why? Because most of the time, the items on sale are things that you don't need and probably wouldn't have bought anyway. This is especially true of Black Friday sales, which often feature doorbusters - deeply discounted items that are only available in limited quantities.

So, if you're looking to save money this holiday season, avoid Black Friday and Cyber Monday sales. Stick to your budget, and only buy the things you truly need and will use. Your wallet (and your stress levels) will thank you for it!

Create a budget for Christmas

If you're like most people, you probably don't relish the idea of creating a budget. But if you want to avoid going into debt this holiday season, it's a necessary step.

The cost of living crisis is real, and it's hitting families hard. Christmas is a time when many of us are tempted to overspend. But if you don't want to start the new year with a mountain of debt, it's important to be mindful of your spending.

If you're careful and stick to your budget, you can avoid going into debt this Christmas. And that's a gift that will keep on giving long after the holiday season is over.

Be smart about delivery

We all know that feeling of Christmas panic when we realise we've left our shopping until the last minute. Suddenly, those delivery charges seem a lot more daunting than they did a few weeks ago. But don't worry - there are ways to avoid paying through the nose for shipping.

One way to do this is to sign up for a monthly delivery pass from your favourite online retailer. This can often be cheaper than paying per delivery and means you don't have to worry about those pesky shipping fees when you're doing your last-minute Christmas shopping.

Another way to save on shipping is to shop early! If you start your Christmas shopping in November or even October, you can take advantage of free shipping deals that many retailers offer.

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We should all have a choice when it comes to paying for our home essentials. Sadly, this is not the case for many people across the country, which is why we are on a mission to revolutionise credit and the way lending is done.

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