Tips to help you ahead this Christmas

Did you know a typical family spends up to £1700 at Christmas? Many of us struggle to pay for Christmas in December alone, so we’ve put together these 5 tips to help you get ahead this Christmas.

Last year families spent between £1,000- £1,700 on Christmas according to the ONS and with cost of living pressures, your special Christmas could cost more. However, if you act now, there are simple tricks and tips to help you take the stress out of your festive plans and ensure you and your loved ones enjoy a magical Christmas.

1) Boost your Christmas fund

Boost the amount in your Christmas fund by selling unwanted and unused items! Decluttering and selling online may seem daunting but it is really simple to rehome your unwanted goods on eBay, Gumtree and Facebook Marketplace.

Watch your savings soar as you sell toys, clothing, books, and gadgets – all at the click of a button!

Why not pop the funds you raise into a Retail CU Christmas Savings Account rather than get lost in day to day spending, so you really can Boost your Christmas Fund!

2) Set a budget

We all want Christmas to be magical, but as the average cost of Christmas is increasing each year, it is important to know what you can realistically afford to spend! A good place to start is to analyse your finances by creating a budget. There are lots of free online tools and advice available, and once started its easier than you think!

Try out this Money Advice Service’s useful Christmas Planner to help you plan your festive budget.

3) Stick to a list

Don’t make impulse purchases or be tempted by ‘amazing offers’! ‘Little extras’ mount up and will quickly blow your budget!

Make a list of everything you’ve bought (and where you’re hiding it!) so you don’t end up buying the same item twice! Did you buy some Christmas wrapping paper in the new year sales last year? Check your loft and the back of the cupboards, you might have some stashed away already!

4) Start early

Start your Christmas shopping early will give you the chance to catch some deals in sought after items! Check out price comparison sites like Kelkoo or CamelCamelCamel which tracks prices on Amazon. Watch out for Black Friday and Cyber Monday deals too!

Adding a few Christmas items to your weekly shop can help spread the cost. Make use of the long shelf lives and start a Christmas cupboard for items such as chocolates, snacks, tinned goods.

5) Start a Christmas Savings Account

Start saving for Christmas today and have a pot of savings ready to spend closer to Christmas! It’s never too early to start saving, and you could even save a little extra for the January Sales too!

Save £15 each week, straight from your pay, and you’ll have nearly £1,000 by next Christmas. Use our Savings Calculator to see how much you could save …

Need a helping hand?

Christmas, the most expensive time of the year, is fast approaching, which is leaving many of us feeling anxious about the upcoming spending! With great rates starting from just 2.9%, a loan for Christmas can help to take the financial strain out of the most magical time of the year.

Retail CU is here to help with a range of loans to lend a hand! You might want to keep you savings safe with a Savings Secured loan, borrow 5 x savings at an advantageous rate with our Advantage loan, or opt for a Personal loan, with rates cheaper than most credit cards.

Take a look at our Christmas leaflet for more information!