The most wonderful time of the year is fast approaching, and with it comes presents, clothes, holidays and shopping lists so long you’ll have to check them more than twice! The festive season is the most expensive time of year for most of us, so we at HEY Credit Union have put together a few handy tips to help cut the cost of Christmas this year.
1. Stick to the budget!
It may seem obvious, but sticking to a set budget is one of the best ways to make sure you don’t overspend this Christmas. Sit down before you start shopping and draw up a list of everything you can think of – including presents, food & drink, clothing, transport, and so on – and the amount you estimate to spend on each. You can then keep track of how much you’re spending on each item, and tick them off the list once purchased. You’ll also be able to see where most of your budget is being spent, and will find it easier to reduce costs where possible.
2. Beware of Christmas ‘deals’
Retailers know that almost everybody is in shopping mode the closer it gets to December 25th. Almost every advert and email you come across is trying to persuade you to part with your cash in exchange for Christmas gifts, with the promise of discounts and exclusive offers. In recent years, Black Friday and Cyber Monday promise slashed prices, and whilst you may be able to pick up the odd bargain – it’s essential to remember that retailers are trying to get you to spend as much as possible. Beware of overspending on items you don’t need, and be especially careful of Black Friday scams.
3. Try ‘Secret Santa’
Gifting presents doesn’t have to cost a fortune, and the gifts we remember most are the ones that come from the heart. If you usually have a long list of people to buy for in your family or friendship group, why not try a Secret Santa? Each person gets given their own person to buy for – so you can really think about getting the perfect gift, whilst saving a pretty penny! It all adds to the excitement and thoughtfulness of the holidays.
4. Take advantage of loyalty schemes
If you shop at a supermarket throughout the year, make sure to take advantage of any bonus or loyalty points you’ve accumulated. All of the major chains provide loyalty schemes to keep customers coming back, and Christmas could be a perfect time to cash in on the purchases you’ve made in the past 12 months.
5. Proper preparation
Despite it only being just the one day, we all know preparation for Christmas starts well in advance of the 25thDecember. By making sure you get a head start on the festivities, you can save yourself quite a bit, especially if you’re booking travel over the Christmas period. Trains and flights tend to shoot up in price the nearer to Christmas you go, so try to plan ahead and book as early in advance as possible.
Whilst planning in advance is a great idea, it’s worth bearing in mind that many retailers drop their prices in the January sales. It could be worth keeping this in mind when shopping, and promising your loved ones their presents after the Christmas rush.
6. Open one of our Christmas Saver Accounts for 2020!
This year, our members broke records, as they saved a huge £850,000 in this account over the course of 2019! We believe it’s the safest, and biggest, festive savings pot in the whole of the Humber region. By putting away as much or as little as you throughout the year, you can take the financial stress out of Christmas. Get a head start on 2020 and apply for an account today.
As November ends and December begins, here are a few fantastic events to get you in the mood for Christmas
With a magical Christmas tree, Kids Zone and festive food and drink stalls, you’ll be hard pressed to find anywhere better to kick off the festive season. It’s also walking distance from our Head Office!
Come see us in Driffield Town Centre on Friday 29th November for the Christmas Lights Switch On, and say hello to Penny the Pennywise Penguin!
For one day only on Saturday 14th December, Scunthorpe town centre will be transformed into a winter wonderland with gifts, treats and snacks aplenty on offer.
Take the little ones to see Santa’s Sleigh in all its’ glory this December, as he makes his way around the streets of Bridlington from 1st December.
Wishing everybody a wonderful Christmas and a happy new year, from all of us here at HEY Credit Union.
John
CEO, HEY Credit Union
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