Top budgeting ideas for Christmas

Posted on October 23, 2023

With Christmas fast approaching you may be looking for ways you can make your budget go a little further. So we have searched the web, and put together our top budgeting ideas for Christmas.

Set a budget

Before you start shopping, write a budget, and include a list of everyone you want to get a present for. The Money Savings Expert have a free budget planner that can help. Remember to include all the extra costs like food, drink, wrapping paper and Christmas pyjamas. 

Generate some money

Space is always at a premium just after Christmas, where are you going to store everything? Get ahead of and sell things you haven’t used in the past 12 months before Christmas and add the funds of the sale to your Christmas budget. Sites like Vinted can be great for getting rid of some clutter, and generating extra cash, or finding a bargain!

Cashback rewards

There is a range of cashback reward sites to sign up to. If you click through them to buy something, they get paid for this and give some of it back to you. Always check that the provider is the cheapest, before making a purchase. You can also get cash back for purchases at a range of high street retailers with our Engage Account, find out more here.

Can you taste or smell the difference?

From perfume to biscuits, the premium brands are not always better. Buying a bottle of perfume from Next or M&S could be cheaper than Dior or Lacoste and can smell just as nice. It can be the same with food, higher branded goods are not always better. Look out for offers and buy what you know you like.

Not just a Christmas box

By writing a list of things you want to buy, if you see food or a present at a good price you can get it early and put it in your Christmas cupboard. Make sure you tick the item off your list, so you do not buy it twice. There is a range of online tools that will send you email alerts when your chosen item is on offer. We really like www.lovesales.com

Hidden bargains

Ebay or Outlet shopping can be a hidden trove of bargains. Many big brands now have their outlet shops online either via eBay or other websites. eBay can also be a great place to nab a bargain, but remember to read the description carefully, including the size! Also, remember to check the delivery costs before buying!

Christmas pact

Secret Santa does not have to be limited to just the workplace. Many friends and also families have a “No Unnecessary Present Pact”, which can include just buying for children, or having a secret Santa between friends or extended family. This can allow you to spend a little bit more on one gift for a group of people than buying for them all. This could be the year to implement this with friends and family.

Make your own

Give back as you give

Out of ideas for someone? A gift from a charity can a great alternative to run of a mill gift. Money Savings Expert have a good link of Charity gifts, and also includes how much goes to good causes. Check out Money Saving Expert, they have a great list of Charity gifts. With so many people under financial pressure this year, supporting a charity close to the person’s heart, can be a thoughtful, personalised gift.

It can be cheap and cheerful

If buying for young children or looking for stocking filler ideas, you can create a gift that has a low-price tag but is big on laughs and enjoyment. This can include snowman soup (white hot chocolate powder, marshmallows and choc chips), to a big box filled with balloons! There are lots of blogs and forum boards for cheap child-friendly Christmas ideas.

Spread the cost

If you do need a little bit more money for your Christmas budget, research your credit options early. A small loan from your local Credit Union could be a cheaper solution to Store or Credit Cards and will definitely be cheaper than repay weekly shops! See our Christmas Loan page for a loan slider to see how much a week a £300 loan will cost.

You can also save for next year from the same repayment. Our Christmas Saving Account is protected by the FSCS.