Top budgeting tips for Christmas 2020

The winter period is often a more expensive time for many people.  The colder weather and shorter days that mean higher energy bills combined with festive celebrations throughout November, December and January. This can have a real drain on our finances.  Our Moneywise and Income Team have put together a list of tips to help you make the most of your money over the next few months.

Plan and budget your spending

If you work out what you have coming in, and what your essential and regular expenditure is (things like rent, council tax, utilities), you can see how much of your money is already committed.  It can be easy to dip into the money you need for these essentials to pay for things like presents.  But if you do, how will you pay for your rent or heating? Work out what you have spare over the next few months and commit to not overspending.

Shop savvy

If you’re going to shop online, and we know lots of you started doing so during lockdown, make your money go further by using websites that give you cashback for shopping through them – sites like Topcashback and Quidco.  Don’t buy something just to get the cashback though as sometimes things go wrong, and the cashback does not end up being paid.  Shopping online can also help you compare prices at different retailers.

Take the £5 or £10 challenge

Agree with friends and relatives to sticking to a budget and challenge yourself to buy a gift that costs less than £5 or £10.  Better still, how about asking friends or family if they want to do a Secret Santa?  Where everyone randomly picks a name and buys a present for that person costing an agreed amount. 

The food challenge

How about taking the downshift challenge and buying some of your food and drink using a cheaper brand?  Not everything will taste the same or better, but you might find some that do.  You could even have fun with your family and friends by seeing if they can guess which items you have swapped for cheaper ones.

A letter from Santa

Children love the magic of Christmas, so how about a free letter from Santa from Royal Mail? Details of how to get your letter are here. 

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If you are worried about your money or paying your rent, you can contact our Moneywise Team or your Income Officer on 0300 123 3399 or

Watch our Christmas Budgeting Video here