10 Tips for a Money Savvy Christmas

Christmas loans

Christmas is one of the most awaited events of the year. Festive spirit surrounds the air as we celebrate with families and friends.

Yet, for many, the cost of gifts, food, and travel can make the festival burdensome. Some may feel the pressure to put on a grand celebration despite a financial crunch.

If you, too, are finding it hard to tide over the Christmas expenses, here are 10 tips for you to be money savvy on Christmas.

10 money-savvy Christmas tips for your inner saver!

Are you one of the people who enjoy going shopping for Christmas gifts? As you know, it can be a time-consuming, expensive, and challenging task. Keep your holiday spirit high and your expenses low with these ten easy-to-follow tips for Christmas shopping:

  • Set a Christmas budget beforehand: The first step is to set aside funds for Christmas. Calculate what you can spend on festive shopping based on your budget. You may have to cut back on some expenses you would normally incur. Creating a budget involves formulating a balance between your monthly income and expenses, and then allocating costs to other expenses. It is easy to overspend when shopping for Christmas. Therefore, keep an extra £50 to £100 on hand for unplanned expenses. Your budget should allow for impulse spending, but you should try to stick to it.
  • Create a gifting plan: Identify the people you plan to gift, the items you will gift, and how much you plan on spending on the gift. You’ll be able to follow this step more easily once you’ve established a budget. Then you’ll be able to choose the gifts that you’d like to purchase. By making a concise budget plan, you can stay within your limit.
  • Mix it up with Secret Santa: Secret Santa is always a highlight of the office Christmas party. Could this trend catch on at home? Consider hosting a Secret Santa event for Christmas with your friends and family. You will all have a blast doing this as well as save a ton of money! Come up with a budget mutually that everyone can abide by – it will leave you only with one gift to buy.
  • Check your loyalty cards: Do you add points to all of your loyalty cards very carefully? If so, you will reap the benefits! Verify how many points you have earned on each card. Redeem your loyalty points whenever you shop for gifts. It doesn’t matter if you only save a few pounds, because every penny counts. If you don’t have a loyalty card, now’s the time. You can add all of the points you earn during your holiday shopping to your card. At the very least, they will be useful next time you shop.
  • Keep an eye out for online and offline cashback offers: During the Christmas season, many major stores and banks run cashback offers in collaboration. Take advantage of such offers by shopping at stores and websites that offer cashbacks. You may only get 5-10% cashback, but if you buy in bulk, it can add up to big savings.
  • Re-gift your unused presents: Is it appropriate to reuse an old gift? Absolutely! It is perfectly acceptable to give a gift that you did not use last year to someone else who might enjoy it. Just be wary of who to give this gift. Make sure that you do not give it to the person who gave you the gift. Check to see if the gift is functioning properly before packing it to avoid any embarrassment. Save money, time, and effort by reusing old, unused gifts.
  • Swap store bought gifts for homemade ones: Do you enjoy DIY crafts? If so, get creative with it! Not only will a homemade gift make the recipient feel warmth, but it will also save you a lot of money. Pinterest and Etsy have plenty of DIY gifting ideas you can explore. Do you make cakes and cookies that the family always raves over? Create a DIY box of chocolates and cookies. The thought you put into your gift and the warmth it displays will make your friends and family happy.
  • Keep an eye out for Christmas discounts: Christmas offers have been announced by most retailers. If you want to learn more, you can check their social media handles, particularly Instagram. You can usually find discount information on Facebook and Instagram. Be on the lookout for special discounts and offers by following stores on Facebook and Instagram.
  • Swap expensive items for dupes: Dupes are low cost alternatives to expensive items, sharing almost all qualities. A dupe may cost you much less than the original product while still providing a high level of quality.
  • Check your insurance coverage: Most of us are through with our Christmas shopping before Christmas day. Burglars may become active around this time. A lot of us spend on expensive gadgets during Christmas. Therefore, it is a good idea to have your household items insured. Set up burglar alarms or intruder alerts. There’s always a possibility of a burglary, but you can make sure you’re extra careful.


Christmas has largely become a festival of gifts, but it is important to remember to celebrate the festival for what it is – a festival of joy and cheer. Celebrate a financially responsible Christmas with your loved ones.

Some gifts that bring a priceless smiles to your family, are worth it. Let Loan Princess help you find a way to light up Christmas. Compare Christmas loans from FCA approved lenders within seconds. Find your ideal Christmas loan with Loan Princess.