It is almost that time of year again.

Sleigh bells will be ringing, the weather is warming (hopefully), and you’ll be shopping up a storm for pressies and ingredients for the family Christmas meal.

But, this Christmas might feel a little different to previous ones. Especially if you’ve just refixed your mortgage at a much higher interest rate.

So, we’ve been busy making a list of all the nice things you can do to save some money these holidays so that you can avoid Santa’s naughty finance list!

10 Holiday Season Money Saving Tips

1: Set A Budget

It is super easy to overspend at Christmastime once you start grabbing presents for the family, decorations and groceries. But you can avoid breaking the bank by setting a budget for what you will spend this December. It doesn’t mean you need to scrimp and save, but be realistic about what you can afford when choosing the number.

2: Go Digital

Christmas cards are lovely, but once you buy the card and the postage for multiple recipients, the costs can start to add up. So, why not go digital and send electronic cards this year? Or record a video message with the family to share around. Cost effective, but still super personal. Plus, you never have to worry about it getting lost in the post!

3: Shop The Sales

In the leadup to Christmas, there will be plenty of sales at all your favourite shops. So, keep an eye out for holiday sales, discount codes and promotions when shopping for your gifts. It pays to start shopping early so that you can catch any sales that are run, not panic buying whatever is left on Christmas Eve!

You can also look for ways to take advantage of discounts in your regular spending. Some utility providers or other services offer discounts if you pay on time or via direct debit.

4: Secret Santa

If you have a big family, the cost of gifts can soon add up. Instead of buying a gift for everyone, Secret Santa is a cool way to still have fun and keep the costs down. To do Secret Santa, put each family member’s name on a piece of paper and put it in a hat, then each draw out a name. That is the person you have to buy for.

If Secret Santa isn’t your jam, then you can kick the fun up a level and play Santa Grab instead. Everyone brings a small wrapped gift and they are placed in a pile. Everyone takes a turn to either unwrap a gift from the pile or to steal a gift someone else has already unwrapped. Proceed onwards until all guests end up with a gift to take home.

Not only are these games fun, but they significantly cut down the gift spend as you are only buying one present.

5: Homemade Gifts And Experiences

Who says you need to gift a store-bought present? Why not get creative with fun homemade gifts or offers of help? Bake cookies, crochet snugglies, pot plant cuttings, or offer to mow someone’s lawn once a month. There are plenty of ways you can give a lovely, thoughtful gift that costs very little.

You can also use recycled materials to wrap your gifts or go rustic with some brown paper and twine.

6: Meal Planning Or No Planning

When it comes to holiday food, you can plan as much or as little as you like. Setting a meal plan will stop you from buying unnecessary groceries, minimising overspending.

Or, throw the plan out the window completely and ask your guests to simply bring a dish with them. The surprise of what kind of food you will receive is part of the fun!

Remember that you don’t have to invest in fancy treats either, you can make or bake your own budget friendly options that will probably taste better anyway!

7: Minimise Travel

Christmas Day can be hectic when you are trying to visit multiple households. Take a step back and look at what you could do to minimise the travel. Could you all meet somewhere central for a blended Christmas celebration? Or maybe visit one relative this year and save the others for next year, taking turn about.

Flights are notoriously expensive over the holiday period, as is accommodation. Perhaps you could plan to have a small family Christmas at home and then visit your relatives for a mid-winter Christmas to save on travel costs.

8: Cut Discretionary Spending

Take a look at your monthly expenses to see if there is anything you can trim over the holidays. For example, if you are a rugby fan, you might be able to pause any Sports subscriptions until the season starts again, or pause other services you won’t be using over the summer.

If you have family coming to stay, look at ways you can share expenses so that no one person has to cover the cost of everything.

9: Put Money In

Look for ways that you can inject money into your budget, rather than taking things out. You could potentially sell unwanted items or things from your garden, rent a room if you have extra space, or even Air BnB out your house if you are going to be on a summer holiday.

10: Examine Your Mortgage

One of the biggest holiday expenses you are likely to have will be your mortgage repayments. So, it’s worth exploring whether or not you can save some money there. The best way to do this is to have a chat with a mortgage broker, like the trustworthy team here at Mortgage Suite.

We can explore all the different options available, like refinancing, securing a different interest rate, restructuring your borrowing, or switching lenders. Any of these options could potentially create savings for you.

So, why not get in touch with our team now for an obligation-free chat? Book a time to speak with us now.