Christmas just around the corner. Central Liverpool Credit Union has produced 5 tips to help you budget this festive season.
1. Work out your budget. The average household will spend £475 on gifts, £110 on food and drink, £30 going out, £20 for travel and £17 on decorations.
The Money Advice Service has produced a calculator to help you work out how much you will need. Its important to agree (and stick to) a spending limit.
2. If you will be travelling by train, book tickets in advance now. You’re guaranteeing yourself a seat during the busiest time of year and can save up to 50%.
3. UK shoppers face most expensive Christmas dinner in a decade. Use a supermarket comparison site to find where to get the best deals. Although they are becoming harder to find, independent greengrocers can work out cheaper than big retailers.
4. Shop at outlets. Money Saving Expert has produced a handy list of 50 big name discounters
5. Plan for next Christmas. Your Credit Union provides a Christmas Club account. If you started saving in January just £5 per week would net you £235 by 1st December 2019. Double that to £10 and you’ll have almost £500 to spend.