It’s officially 100 days until Christmas day. While the summer holidays might only just have finished, Christmas seems to be arriving on shop shelves earlier than ever before this year. Though it may feel premature, with the cost of living continuing to rise, it’s a good idea to start early so you can spread the cost of the festive season.
Retailers are encouraging shoppers to plan ahead, with Tesco releasing its first Christmas advert in July. The supermarket released an ad which read: “What the jingle bell?”
“We know. We’re early,” the ad went on “But this year we want to help you spread the cost.”
The ad was released to encourage shoppers to opt into the Christmas Savers fund, where Clubcard holders can collect vouchers over the year and save them all to use for the big Christmas shop.
Tesco aren't the only retailer with saver schemes in place and as an early gift from us to you, we've put together some top tips to help you spread the cost of Christmas and relieve some of the financial pressure this year.
1. Set a budget
With inflation on the rise and wages not keeping up, many people will be trying to cut back which could mean spending less at Christmas. Avoid overspending or getting into debt by working out what you can afford to spend, and setting a budget to stick to.
Set an overall budget and then allocate an amount to gifts, food, home decor etc. It's a good idea to try and work in priority order in case of any overspending or unexpected costs. For instance, you definitely don't want to run out of money for a Christmas turkey, but taking part in the office Secret Santa might be less of a necessity.
2. Split the cost
Don't worry if you haven't put any money aside yet, as there's still time to save. Once you've worked out a realistic budget, spread the cost over your remaining paydays to relieve the burden just before Christmas.
So, if your budget is £600, try to put aside £200 every month from October to December, rather than forking out for everything all at once.
3. Try micro-saving
If you have a limited disposable income, putting aside a big chunk of your pay cheque might not be an option. You could try micro-saving over the coming months instead.
There’s still 100 days until Christmas and you’d be surprised at how much you can save by pulling in the everyday purse strings. Try taking lunch to work instead of forking out for expensive sandwiches from the coffee shop, putting aside the money you would have spent each day for some extra Christmas cash. If you typically spend £5 a day on lunch (5 days a week) that's around £350 you could save before Christmas. If you typically spend £10 a day (which is easily done if you buy a coffee each day too), you could save £700!
4. Get some extra cash together
For many families, finding any extra money for Christmas might feel impossible this year. But with 100 days still to go, there's still time to pull in some extra cash.
Have a clear out and sell any unwanted CDs, DVDs and games on Music Magpie. Sell any unwanted clothes on eBay or Depop (we've put together this handy guide to help you get the most bang for your buck)! You could sell unwanted furniture or knick-knacks on Facebook Marketplace. We know this won't be possible for everyone, but you might be surprised what you have lying around at home.
5. Start shopping early
Many retailers have already released their festive ranges, so it's a good idea to start shopping early whenever you spot a great offer or deal. Make a list of what you need to buy and who you need to buy gifts for, then whenever you spot a bargain you can store it away and tick it off the list. This will also give you time to shop around for the best deals, instead of rushing out and paying over the odds on Christmas Eve. Keep your eyes peeled for all the best discounts and deals on the VoucherCodes website.
6. Supermarket saving schemes
The Christmas food shop is one of the biggest expenses people face at Christmas, but many supermarkets offer savings schemes to help spread the cost and relieve the festive financial burden. Here are some of the schemes on offer for Christmas 2022:
Tesco Christmas Savers Scheme
Part of the Clubcard programme, collect points each time you shop which you can save up for vouchers to use against your Christmas shopping. You can also top up your Christmas Saver account in-store. You'll also receive a bonus voucher, relative to the amount you've saved. See full terms and conditions here.
Before signing up to the Christmas Savers, it's worth noting that Clubcard points can also be redeemed with a range of reward partners. You'll get triple the value of your points, so if you have £10 of points, you'll get £30 to spend. Depending on what you want to spend your points on, this could be a better option for some.
ASDA Christmas Savings Card
Choose a digital or physical card, which you can order online or pick up for free in-store. Top up your balance whenever you have spare cash over the coming months, or set up a recurring payment. You'll then receive a cash bonus depending on how much you save. See full terms and conditions here.
Sainsbury's Christmas Club Card
Activate and load your card in-store and save as often as you like until 1st November. You'll need to save a minimum of £50 to get a 5% cash reward, equivalent to £2.50 for every £50 saved. You can then redeem online or in-store at Sainsbury's or Argos. See full terms and conditions here.
7. Plan travel in advance
If you're planning to visit family or enjoy a festive getaway, don't leave it until last minute to book your train tickets. Rail operators usually release tickets around 10-12 weeks before the date of travel and this is often the cheapest time to book. Cheap tickets go quickly, especially over the festive period, but you can sign up to get a free alert from Trainline as soon as your tickets go on sale.
8. Make the most of Black Friday and Cyber Monday
Shopping for gifts is the biggest expense for many, but you could get your shopping wrapped up for a fraction of the cost on Black Friday and Cyber Monday. This year, Black Friday will take place on Friday 25th November followed by Cyber Monday on 28th November. Most big retailers will take part with huge savings to be had on tech, fashion, homewares, and more. Keep an eye on our dedicated Black Friday page for news on all the best deals and discounts.
9. Cut back and get creative
Christmas may be the most wonderful time of year, but it's not worth getting into debt for. More people than ever will be feeling the pressure this year and even with careful planning and starting early, it just might not be realistic to spend money on all of the things you usually would.
Try cutting back on your gift list, do you really need to buy presents for distant relatives or colleagues? It's worth having an open conversation as the chances are, some of your friends and family members will be feeling the same. You could agree a budget or opt for handmade gifts instead. Dare we say it, you might even consider re-gifting! If you have unwanted and unused gifts from last year, why not gift them to someone else instead of buying new? Of course, just make sure you don't give them back to the same person!
There are plenty of free or cheap activities you can do with children to make Christmas just as magical without spending as much. Make your own decorations, head out on a starlight walk to take in the lights or cosy up with Christmas films. It's worth planning ahead so you have plenty of tricks up your sleeve and you don't end up spending money you don't have last minute.
We can all get swept up with the pressure to buy the best presents and have the best decorations, but at its core, remember Christmas is all about spending time with loved ones.
10. Plan ahead for next year
While this won't technically help you spread the cost of this Christmas, it will certainly help make next year less of a worry. Consider setting up a Christmas savings account and save little and often over the next year. This will be easier than having to get a chunk of money together with just a few months to go. It's also a top tip to pick up next year's greetings cards, wrapping paper and gifts in the Boxing Day sales - when prices are slashed by up to 70% or more! Read our handy guide to bag a bargain in the Boxing Day sales and get next Christmas sorted for a fraction of the cost.
Have you got any top tips to spread the cost of Christmas this year? We'd love to hear over on Facebook.
