I’m a money guru… my five tips will slash your costs in the festive period – and how save on gifts
RESEARCH suggests that last year, the average person in the UK spent over £500 on gifts alone during the festive period.
But as the cost-of-living crisis soars, millions of families across the nation are looking for ways to cut the festive costs this year – and here, the experts at Hey Discount have shared their top tips.
“There can be a lot of pressure around the festive season to splash out on gifts for our loved ones, but in the current financial climate, many of us will be looking to save money where possible,” said Patrick Dever, Director at Hey Discount.
”There are several ways in which we can show appreciation and love for our family and friends without over-exerting ourselves and our bank balance.”
Discount codes
Who doesn’t love a good bargain? And surprisingly, the Christmas period is where shoppers can get their hands on the best deals.
If you’re still looking for treats for your close ones, Patrick advised to keep an eye out on discount codes.
”There are various forums across the internet and social media that you can join and become a part of – swapping codes and deals between other like-minded shoppers.
”Heydiscount.co.uk is also a great hub of codes and advice on how to save money, all of which are verified and checked thoroughly!”
Explore cashback sites
Over the recent years, more sites and companies have introduced a cashback feature – a simple way where customers can get back some of the money they spent.
Patrick explained: ”While it’s not an immediate way to save, cashback sites offer a partial refund of your purchase at a later date – offering a nice buffer during the January blues.
”Cashback payments are essentially delayed discounts, so if you don’t mind waiting slightly longer for a cashback payment, it’s a win-win situation!”
Make a list
We’ve all walked into a store without any idea what to buy – and then end up wasting hard-earned cash on items we’re not one hundred per cent sure off.
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This, Patrick said, is where a list comes in handy.
“Making a list of the type of items you want to buy your friends and family members will help in the long run, as you will be less likely to pick an item out of desperation (which more often than not is more expensive than you wanted it to be).
”Don’t go gift crazy, friends and family will not be expecting you to go overboard this year.
”If you want complete transparency – try setting a budget with your friends and family.
”This ensures there isn’t any pressure and makes for an easier shopping experience overall!”
Separate fun from practical
For many, Christmas is a great opportunity to give pals and family funny gifts that represent inside jokes.
However, more often than not, they lack the practical aspect, the expert noted.
Instead, look for gifts that the recipients can actually make use of.
This means you won’t be spending too much money on a novelty and cutting into your budget for items your loved ones actually want or need.
Save receipts
Sharing his top tips, the guru said: “Saving your receipts is a great way to make your money stretch through January and post-Christmas blues.
”This way if any presents are unwanted, you will be able to return them and recoup any money spent.
”If possible, buy gifts in cash and request gift receipts so the recipient can return the gift themselves and exchange it for something else – this saves you having to source something else while waiting for the money from the first gift to go back into your bank.”