Last year, the average Brit spent around £476.05 on Christmas gifts. This equates to just under a quarter of the average monthly income in the UK!
The huge expense of buying Christmas gifts can make it tricky to stick to a monthly budget. As a result, many Brits across the UK will rack up debt in the name of buying the perfect presents. In 2019, one in five people admitted going into debt over the festive period.
There is no feeling better than giving your loved ones gifts you know they’ll love. The good news is that it’s possible to do so without breaking the bank. Here are five money-saving tips for buying Christmas presents on a budget.
5 easy ways to save money on Christmas gifts
1. Make a plan (and stick to it!)
This year, you can start saving money on gifts by making a gift-buying plan before you start your Christmas shopping.
Take time to create a list of who you need to buy for and exactly what you would like to buy for them. It is also a good idea to jot down a few backup gift ideas in case things are out of stock!
Having a plan will prevent you from making spontaneous purchases or buying more gifts than you need. It is very easy to lose track of what you’ve bought at Christmas time, and without a plan, you can quickly end up spending way more than you can afford.
Tick things off your list as you go to ensure that you don’t miss anything out!
2. Keep things personal
When it comes to buying Christmas presents on a budget, it really is the thought that counts! One of the best ways to save money without lowering your gift game is to opt for personalised presents.
Websites such as Etsy, Depop and NotOnTheHighStreet, are great places to find fairly cheap items that can be personalised to make them into meaningful gifts. A great gift for your dad could be a personalised beer glass (under £10). Meanwhile, your friends are sure to love receiving a photo cube filled with favourite memories (under £20).
By adding a personal touch, low-cost gifts can quickly become priceless!
3. Start your Christmas shopping early
If you want to get your hands on some excellent offers this festive season, it’s best to start your Christmas shopping early.
Many shoppers will wait until Black Friday weekend to start their Christmas shopping. However, retailers are already offering Christmas deals and some began launching their offers as early as September! By starting your shopping early, you can make the most of the deals on offer and rack up huge savings!
4. Compare prices
Everyone knows the frustration of buying a gift only to see it being sold elsewhere at a lower price after placing the order.
Luckily, you can easily avoid paying more than you need to for your gifts by using price comparison tools. Browser extensions, such as PriceBlink, can be used to search the internet for cheaper prices, deals and offers on all of the items on your gift list.
Comparing the prices of products could help you to make huge savings on Christmas gifts this year. Your piggy bank will thank you when you take time to find the best price, instead of purchasing the first one that you see.
5. Search for discount codes
In the modern days of online shopping, most retailers will offer discount codes throughout the year. These codes can result in huge savings, with some offering up to 75% off over the festive period!
While some retailers reveal discount codes across their websites, other codes can be much harder to find. Some codes are given exclusively to social media influencers, which they reveal to their followers. Others are given to email subscribers as an incentive to be part of the mailing list.
To find the best discount codes for the retailers you plan to buy from, you could download a code finder extension. Tools like Coupert will actively scan the internet for any codes that are available and add these to your cart before you pay. Code finders make it easy to find the exact discount codes you need for your Christmas shopping.
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About the author
Ruby is a freelance writer who enjoys writing about all things personal finance. After embarking on her own side hustle journey three years ago, Ruby is passionate about helping others to learn about the ins and outs of persona… Read More
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