Plan Early For A Low-Cost Christmas

Saving and Making Money

Updated on 06 November 2009 | 0 Comments

Jane Baker reckons we should be planning for Christmas 2008 now!

We haven't even got through Christmas 2007 yet and I'm already thinking about next year's festivities. This makes sense because leaving everything to the last minute is a surefire way to drain your wallet. So get started as soon as you can for a debt-free Christmas in 2008.  

It's really surprising thousands of us still leave our shopping until Christmas Eve. I can't think of anything worse than battling with the crowds when I could be at home drinking mulled wine and eating mince pies! So next year, I plan to be an early bird and save money by starting my preparations for Christmas in January. To do that I'm going to try out these five tips:  

1. Take advantage of the January sales. Probably the last thing you want to do right after Christmas is even more shopping. But if you can face the January sales you should be able to find some excellent bargains for Christmas 2008. Put cut-price Christmas cards, wrapping paper, decorations and early gifts at the top of your list. 

2. Start a Christmas savings account in January. The cost of the festive season can add up to a pretty hefty bill, particularly if you're invited to lots of parties or you're hosting Christmas day itself. My advice is to start a Christmas savings account as soon as you can. Put away a little every month and by December you should have a nice little nest egg. We'll weigh up all the savings options for you in another article later this month, but for now have a look at Savings Centre to get a head start.  

3. Then work out a budget. Calculate the entire cost of Christmas early on. That way, you'll know how much to save over the year. Just make sure you stick to it! 

4. Make the most of your reward points. Make sure you take your reward card with you every time you go shopping, then just wait for the points to pile up over the year. This is an easy way to save up a little extra. According to Sainsbury's Bank, if you spend £100 a week in store over a year you could earn Nectar points worth £104. That can't be bad!  

5. Buy a present a month. A long list of people to buy gifts for can be pretty daunting especially if you're struggling to come up with ideas. So I'm going to buy a least one Christmas present every month throughout the year so by the time December arrives my shopping will be done and dusted.  

Not only is this great for avoiding expensive, last minute panic buying, it'll help me to spread out the cost. Just be careful that if you're buying in advance the gift will still be welcomed months later and don't buy anything that won't last. A good bottle of wine is a great choice for connoisseurs. If you buy one that improves with age, you can lay it down until Christmas comes.

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