7 ways to save money this Christmas

With Christmas just around the corner, you might be feeling the financial crunch when thinking about all of the gifts you need to buy for friends and family. Actually, you don’t need to worry. There are many options other than going shopping at the shopping centre and spending too much money. Christmas is an opportunity to spend quality time with family and friends and doesn’t have to be stressful.

This is not to say that exchanging gifts shouldn’t be a part of Christmas. Holiday shopping is fun, and gifts are a way to show how much you care for your loved ones. However, you should be able to do that without breaking the bank.

Here are 7 ways to save money this Christmas:


1. Track your spending

So, lots of people spend like crazy throughout December and never check in on their budget, but you should always track your expenses as you go. This helps you avoid overspending and ruining this month’s and next month’s budget.

We know that it can be hard to set a budget for a gift, but if you want to spend your money smartly, you should. The best way to do it is to set a limit for how much you are going to spend and stick to it until the end.

2. Make a Christmas shopping list

Plus, when shopping, make a list of the items you need to purchase. This will prevent impulse purchases. This will help you keep track of the budget that you created and help you save money. Indeed, when we go off the list we tend to overspend and buy things that are not necessarily in our budget.

Plus, having a list can prevent you from forgetting about a friend or 2 on your list. 

3. Participate in a Secret Santa

    Instead of buying gifts for all your friends and family, draw one person’s name and become that person’s Secret Santa. Put a price limit on how much you can spend on each gift. Instead of buying gifts for many people, you can focus your giving on one person.

    It’s a fun way of exchanging gifts and helps you save a lot of money.

    4. Shop online

    Around Christmas time, most shops will extend their sales and promotions to their online stores. You should be able to compare prices easily and look for online promo codes to save even more money. Ordering your presents online means shopping from the convenience of your own home, instead of being in a crowded shopping centre.  

    5. Plan your online purchases in advance

    Most online stores offer free shipping when you reach a certain amount. Make sure to buy early enough to get the cheapest online shipping options. The last thing you want is to ruin your budget by paying additional shipping costs because you ordered at the last minute. The best way to organise yourself is to plan your purchases so you can order your items all at once to make sure you can receive free or reduced shipping rates. 

    6. Give homemade gifts

    Homemade gifts are back in fashion. One of the best ways to save money this Christmas is by creating the gifts yourself. Consider crafting, or sending baked goods instead of conventional presents. Plus, they often offer a more personal and sentimental touch that you can’t find in any shops.

    Look for homemade gift ideas online and plan ahead so you have plenty of time to create your gifts. 

    7. Start buying your gifts now

    Starting to buy your Christmas gift now will allow you to spread the expenses over different months, instead of taking a single month’s pay. Thus, you will feel less of the expenses and it will not make a big gap in your monthly budget.

    In addition, it will help you avoid the stress of forgetting gifts and last-minute shopping.

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    Debbie Cheevers

    Debbie Cheevers

    Qualified Financial Advisor

    Debbie was born in Dublin and graduated from NCAD with a degree in Visual Communication. She brings a strong customer services background to Greenway.

    Debbie qualified as APA in 2017 and a fully qualified financial advisor (QFA) in 2018.

    She believes that product knowledge is key to helping customers make the right choices.