As the summer draws to a close, most people’s attention will inevitably be drawn to the next exciting part of the year. Although we still have to pass Halloween and bonfire night, there’s really only one thing slipping into people’s mind and that’s Christmas. Whilst most people cringe and moan about the mention of Christmas at this time of year, the frugal among us are wise to have it on the radar, and here are five specific save money tips that will help you this holiday season.
1) Start shopping for Christmas now. It may seem a little premature, you may even be tightening the purse strings after spoiling the kids all summer, but buying a few presents here and there will take the sting out when December comes around. Right now, there’s hundreds of sales on across the high street/internet, you could be picking presents up for next to nothing.
2) Budgeting. One of the main reasons people overspend is due to being completely unaware of their current financial situation. You might go shopping with a rough estimation of how much you think you can afford, in reality you have no idea. The only way to truly know is to set up a budget. This will enable you to really come to grips with your income and spending and you will make much more informed buying decisions (because you will truly know whether or not you can afford a certain item). It takes less than an hour to set up a budget and it can really save you a considerable amount of money and keep you well out of debt (for more on debt, click here)
3) Always shop around when buying financial products. There are thousands of people that simply accept their car/home/travel insurance renewal quotes when they come around without any further investigation. Insurance companies know that a lot of people are lazy and will either over quote you, or not reduce the premium to something more realistic. Make sure you do your research and never accept the first offer you receive.
4) Don’t just jump in the car…walk. If you’re only heading round to the local store, why bother driving there? It will cost you money in gas and it’s a bit lazy. So, to save yourself money here, you should walk. Not only will you save a bit of cash, but it will also keep you fit…there’s nothing like a nice walk to get some fresh air!
5) Cancel your unwanted subscriptions. If you’ve got a subscription to cable TV, a subscription to a fashion magazine and a subscription to a local club – just have a think about how much money you are actually spending. Work out if you’re getting value for money with all your subscriptions. If it’s the gym, how many times have you been in the last 6 months? Divide it buy the subscription cost and if you don’t like the answer, cancel the subscription now!
