Saving For Christmas Yet To Come
The one thing that most of us are guilty of saying at this time of year, is ‘I can’t believe it’s Christmas already!’
We’re kicking ourselves for not buying wrapping paper in last year’s sales. For not putting a little away each month like we promised. We’re annoyed for not hunting for bargains throughout the year and stressed out for not starting our holiday planning early.
This year however, we thought we’d make a change.
Brought to you with Kinder Banking by The Cumberland – we’re not going to think about Christmas past, we’re not even offering help with Christmas present, this year we’re going to do our best to make sure that we’re all a lot more prepared for Christmas yet to come!
Grab a Christmas cookie (we’ll allow you the one) and let’s set off on our merry little way…
1. It’s in the planning
Ad-hoc shopping can be the worst budget-buster so simply having a plan in place can be the most cost-effective plan of all.
Start by making a list of spare items from this Christmas that could come in useful in a year’s time. Did you overspend on wrapping paper and find yourself with three spare rolls? Do you still have twenty Christmas cards from that multi-box you bought? Making a note now could prevent you from over-spending next year and leads us nicely on to…
2. January
The January sales are a great time to get ahead for next year. Wrapping paper, Christmas trees, even potential gifts will be reduced. If you know what you’re going to need from completing section one, then go right ahead and start saving money!
3. Budgeting
Speaking of money, it’s time to get a grasp of your finances and set a budget.
We’re not looking at Christmas budgets, not just yet. We’re making plans to get you there by organising your regular budget.
A good place to start looking for quick wins is with your subscriptions. Cancelling one or two of the barely used ones could leave money to put into savings without you even noticing a change. Visit our Top Saving Tips page for more.
4. Start your savings plan
A new year is always a good time to reset and start a new habit. Our savings pages offer information about many of the accounts that you can open with us. In addition, our Savings Hub is dedicated to articles and tips for saving. Once you’re ready, or for more information, an appointment can be made with a member of our savings team by filling out the online form.
5. The Christmas budget
Once we have a savings plan in place, we can start to think about a Christmas budget. Try to account for everything that might crop up that is out of the ordinary. Think food, presents, cards and wrapping, decorations, even a new outfit for the office Christmas party. Your Christmas budget should include anything that wouldn’t come out of your regular household spend.
Once you have your list, then you can begin to whittle it down. Have you considered agreeing maximum spending limits with friends and loved ones? If you and your friends or family have children, then you could agree to buy for the kids only, or limit adult presents to a Secret Santa style gift?
6. Make a list and check it twice…
Grab a pen and paper and note down everyone you plan to buy for. For those with larger families there is always the stress of forgetting to buy for a niece, nephew or cousin. Create a simple shopping list and write down items as you purchase them. Don’t be tempted by that ‘extra’ item later because it looks irresistible in store or online… stay strong, you can do this!
7. Find the best deals throughout the year
We love to shop local but if you’re looking for a specific item on the high street then you could try using a price comparison site to find the best value for items. Make the most of annual sales (Black Friday / Cyber Monday) and keep an eye out for online discounts that you might receive for joining mailing lists or opening an account.
While shopping at any time of year, please be fraud aware. Our fraud protection pages give tips for being secure with your banking, and what to do, or not to do, should you suspect that you may have been the victim of fraud. As a Cumberland customer, if you do believe that your bank account has been compromised or that you have been the victim of fraud, please contact us on 01228 403141 as soon as possible or call into your local branch.
8. Don’t forget to talk
Christmas can be a difficult time for many people, for many different reasons. If you are a Cumberland customer encountering financial difficulties and have a question, then please get in touch. For more information you can also view our help pages.
There are many charities who are also only a phone call away, covering issues from loneliness to bereavement and depression which can all feel magnified at this time of year. If you need someone or are feeling low, there are people who can help. We’ve listed some useful websites but specific ones can be found online.
That’s it for us. We’re off to make the most of Christmas present, rushing off to once again do the things we promised ourselves we wouldn’t be doing.
We leave you with a reminder that Christmas, although magical, is indeed just a day, and that presents and banquets make us smile at the time, but memories can last forever.
In a season of gifting, there’s no gift more valuable than kindness. It’s one of our core principles and something that stays with us all year round. We hope that you find your own way to be kind this Christmas and every Christmas to come. By visiting family and friends, going for walks, picking up the phone. By checking in with a neighbour or volunteering with a charity. It’s the little, often minimal expense things, that really do make this time of year so special.
Kinder banking from The Cumberland – at any time of year.