Christmas is set to look quite different this year due to the COVID19 pandemic. With Christmas markets cancelled for the first time in decades, the national rule of six limiting how many people outside of the household we can see on Christmas day and the threat of shops and pubs closing down in several areas of the UK that are likely to go into Tier 3 lockdown, the one bright side to all of this is that Christmas is set to be cheaper too. Every year, thousands of people go into debt in order to afford Christmas – or end up cutting far into their monthly expenses leaving them with financial struggles in January. If you’ve been financially affected by the pandemic but still want to make sure that you have an enjoyable festive season this year, these money-saving tips can help reduce some of the stress.
Pay off Debts Beforehand:
Working to reduce your debts now will free up some money to spend for Christmas without the extra worry and guilt. A consolidation loan can be a great way to repay multiple lines of credit at the same time leaving you with just one loan and one monthly repayment to make, which can seriously reduce your monthly expenses. Consolidating your debts before Christmas means that you might be able to free up some of the money that usually goes towards making minimum payments to your debts to spend on the festivities instead. Check out New Horizons where you can find short-term loans for bad credit that can make an ideal option for debt consolidation. New Horizons is a broker that works with a panel of trusted UK lenders to find the right loan option for you.
Along with the looming threat of Tier 3 lockdowns that might see all but essential shops closed down again, there are many reasons to shop online. Not only is it a much safer option during a pandemic, but it also means that you can take advantage of better deals, more products, and online flash sales that you don’t typically see in the store. Black Friday and Cyber Monday are just around the corner so it’s worth getting online during these massive sales to see what you can find and save a huge amount of money on gifts.
Give Useful Gifts Instead:
Every year, people receive tons of gifts that they don’t actually need – and this can lead to massive amounts of money wasted. This year make a pact with your family and friends that you are all only going to buy useful gifts for one another, so you can all be sure that you are getting your money’s worth. It might be worth getting together to put together a list of the things that you need right now, as getting them for Christmas will help you and your loved ones save money on purchasing them for yourselves – and it’ll leave you with much less clutter and unwanted stuff after the festive season is over. Gift cards for stores like Amazon can make a fantastic gift idea if you’re not sure what to buy somebody since they can use it to get whatever they like.
When it comes to shopping for Christmas decorations, there are usually plenty of people selling last year’s decor at cheaper rates than you would find in the stores. It’s also worth digging through storage to find where you put your tree and that plastic bag filled with baubles – chances are that you don’t actually need to spend any extra money on decorating your house for the festive season this year, and if you do, there are plenty of ways to drive the cost down.
Deviate From Tradition:
A full Christmas dinner with all of the trimmings can get seriously expensive – but at the end of the day, it’s all about spending time with family. With extended family visits unlikely to be allowed this Christmas unless the coronavirus situation gets under control quickly, it might be worth considering saving money by deviating from tradition a little bit. Even getting a chicken instead of a turkey can save you a fair amount of money.
Take Advantage of the Rule of Six:
The rule of six means that you can’t meet up in a group of over six people and this is likely to still be in place during the Christmas period. That coupled with the rules surrounding not meeting up in households means that this Christmas you have a good excuse not to host any guests and enjoy a cheaper time at home with your immediate family or support bubble.
While Christmas is set to look rather different this year, you can still make it a fun and enjoyable time with family. Keep these tips in mind to cut the cost of Christmas while still making memories.