CHRISTMAS is fast approaching and households will be beginning to make preparations.
Putting a budget in place for the festive season is always important, but this year it might feel a little more challenging.
There are ways you can save before Christmas
Thinking about how to pay for the presents and all the trimmings will be a major headache for many people as finances are squeezed.
We’ve found five ways to help you save a whopping £1,840 between now and the big day.
Switch your bank account – up to £175
You could get up to £175 in free cash just by switching to a new bank account.
Santander currently pays £175 if you move to its 123 Lite account.
This does cost £2 a month and you have to pay in a minimum of £500 a month to the account.
But you can earn between one and three per cent cashback on bills, including two per cent on energy bills.
There is a maximum of £5 in cashback per bill, so £15 a month in total.
Meanwhile, Virgin Money recently launched 25 per cent cashback on UK supermarket and fuel spending up to a £160 per month for two months.
First Direct also pays £175. You have to deposit £1,000 when you open but there’s no minimum amount per month you need to pay in to get the cash.
Halifax Reward switchers get £150. You need to pay in £1,500 or you’ll be charged £3 a month.
Read the terms and conditions before you switch, to find any clauses that might not suit you.
Nationwide is offering £100 if you switch to its FlexDirect account, while HSBC pays £110 to switch to its HSBC Advance account as well as a £30 voucher for either Uber Eats or The Dining Out.
To switch your bank you just need to open a new account. Tell the new bank your old account details and it will do the rest. The Current Account Switching Service guarantee means it should only take seven days.
You’ll need to check before you switch as some will only offer the perk if you make it your main bank account, switch direct debits and pay in a minimum amount each month.
Ditch unused subscriptions – up to £179
A few quick clicks will cancel pointless payments in time for Christmas.
Customers who forked out for Deliveroo’s £7.99-a-month delivery can save by axing it.
Only orders over £10 qualify for free delivery, so customers making smaller orders do not save.
This would save £31.96 before the big day.
If you splurge on an expensive gym membership, you try exercising outdoors for free.
For example, a membership at PureGym can cost you up to £26.99 a month, if you live in London.
You could save over £107 by axing this cost before Christmas.
Apps such as Strava log work-outs and check your progress.
You could get rid of insurance policies for products which have significantly reduced in value or you no longer own.
Premiums covering old mobile phones and ageing washing machines can be the source of those mystery payments of around £10 a month on your bank statement.
Use cashback websites – £123
Cashback websites get you money back on purchases you make online.
When you buy something on the internet you just need to click through to the website from a cashback site such as Quidco or TopCashback.
It registers your visit and you earn cashback on your purchase.
How much you’ll get depends on the retailer.
TopCashback says its users earn an average of £300 cashback a year.
With just over 100 days to go until Christmas, that means you could save around £63 before then.
You can boost that through its Tell a Friend scheme.
If you refer a friend and they earn cashback through the site, you get £30 and they get £10 cashback to spend with Boots.
Once your friend has earned £10 in cashback, you’ll get another £30 too.
Cash in on a clear out – up to £1,000
Selling unwanted items from around the house could make you more than £1,000, according to eBay expert Clare Seal. Think laptops, pushchairs, musical instruments and gardening tools.
Facebook Marketplace and the Nextdoor app are also good for selling to people who live locally — and you don’t have to pay to list items. You can earn up to £1,000 a year from selling items without having to pay tax.
Shop around for insurance – £363
While you’re shopping around for better deals, you might want think about the rest of the household bills too.
MoneySuperMarket estimates that you could save up to £253 by switching your car insurance provider and up to £110 by shopping around for home and contents insurance.
If your insurances are not up for renewal yet, don’t switch early as you may incur a cost.
Instead, put a reminder in your calendar for when they due for renewal. You can usually get the best rates if you shop around about a month before your deal is up.