Spreading the cost

There are only a few pay packets until Christmas. Here are a few tips for helping you to spread the cost of the festive season:

Start with a budget. Write down how much you can afford to spend, then divide this into presents, food and drink, decorations and social occasions. If you have a lot of people to buy for, work out how much to put aside per person. Don’t forget to budget for things like cards and wrapping too.

Put a portion of your pay packet aside as soon as you get paid between now and Christmas.

Book train or coach tickets early and use discount cards if you have one. Prebook taxis after the Christmas party, get as many people to share with you as you can and agree a price with the taxi company before you get picked up.

Some bank accounts pay you for switching your current account – be quick as the money can take 60 days to come through – just in time for Christmas!

Start buying dried goods like gravy and things that will last now to spread the cost of your Christmas dinner. If you spot a deal in the frozen good aisle grab it and make the most of the preChristmas deals.

Check balances on your loyalty cards and use your points to help cut the cost of Christmas.

Why not use the month of October to give up spending money on things you don’t really need? Be savvy with your cash by making packed lunches, not buying takeaway coffees and carry-outs and limit your spending on snacks and beauty treatments.