News details
Saving money this Christmas
12/23/2009
Alok offers 12 top tips on how you can save money this Christmas.
With the bleak news surrounding job losses, such as the situation at the Corus plant in Redcar, and the upcoming BA strike action, 2009 seems to have been a dismal year for many of us.
If you’re feeling a bit like Scrooge as we approach the most expensive time of the year, read these tips to see how you can make some small, money-savvy cutbacks and enjoy the festive period.
1) Make your own presents. Take the example of simpler times and experiment with chutneys, jam and cakes – not only will they taste delicious and give you a chance to showcase your creative and culinary talents, but they’ll save you a fortune. People really appreciate homemade goods so don’t assume you have to spend a lot of money to find the perfect gift.
2) If you’re buying books for loved ones this Christmas, there’s still time to visit www.amazon.co.uk for some excellent offers. You can often get ‘like new’ versions for a fraction of the price you’d pay in shops and with a bit of price comparison you can pick up some ideal bargains.
3) If you’d like to avoid the last minute Christmas crowds, go to www.toyshop.com for a comprehensive website of the latest bargain offers and unusual gifts for Christmas. This online shopping can work out to be much cheaper than the high street.
4) Don’t overlook charity shops such as Oxfam in your hunt for the ideal gift – there are some real hidden gems to be found and you’ll be helping a good cause at the same time as saving a lot of money.
5) If you’re looking for a break away on a budget over the holiday period, organise a festive ‘booze cruise’ with friends. Whilst abroad you can pick up some great deals on alcohol – French supermarkets such as Carrefour in particular offer better deals than the UK so stock up on high quality goods.
6) At the moment, gold is at the highest price it’s ever been, so it’s an excellent time to sell old, unwanted pieces of jewellery. The money raised can come in very handy at this time of year.
7) Make your own decorations. Not only is this cheaper than rushing to the shops, but it’s a great family activity where you can get the children involved.
8) If you’re too short of time to create your own decorations, try www.xmasdirect.co.uk, which offers an array of Christmas lights and decorations at cheaper prices than you’ll find in the high street.
9) For a completely free, environmentally friendly alternative to the traditional Christmas card, send your friends and family an e-card. The website www.ecards.co.uk offers a range of creative designs to choose from and it won’t cost you a penny.
10) Take this opportunity to have a Christmas clear out before 2010 gets here. Have a look in your loft and cupboards for any unwanted goods that you can take to a car boot sale. Blaydon and Chester-le-Street hold particularly good car boot sales, so take your old things along and see how much you can sell.
11) If the financial stress of 2009 has left you with a range of huge credit card bills, spend some time researching 0% balance transfer deals. You can compare credit cards online to find the best deal for you. Virgin for example has a great deal at the moment, offering 0% on balance transfers for 16 months. You can save hundreds of pounds in interest payments by doing this simple exercise.
12) If you’re finding it difficult to control your debts, approach your bank to see if it is possible to consolidate your debts into one loan. An Independent Financial Adviser can help you review your finances so that you can make a fresh start in 2010.
For further information on how Alok can help you with your personal or business planning needs, contact Dhanda Financial, 52 Dean Street, Newcastle upon Tyne, NE1 1PG, telephone 0191 255 8960, or email alok@dhandafinancial.com
