You are here: Home - Saving & Banking - How to -

Dragons’ Den star Sarah Willingham’s Christmas saving tips

0
Written by: Sarah Willingham
07/12/2015
Sarah Willingham, entrepreneur and star of BBC Two’s Dragons’ Den, shares her top tips on making a frugal Christmas more fun.

Christmas is a very expensive period, with the average Brit estimated to spend around £1,490 this year. But in order to end the holiday in as high spirits as when you started, it is important to budget effectively – and make savvy savings wherever possible.

We asked entrepreneur, investor, personal finance expert and TV star, Sarah Willingham, for her top Christmas money saving tips.

Suggest Secret Santa

If you have lots of different groups to buy presents for – work colleagues, school friends, aunts and uncles – it is worth suggesting Secret Santa. Set a budget, pull names out of a hat, and encourage people to get creative. It really is a fun way to spend less – and you’ll probably end up with more interesting gifts.

Don’t give in to pressure
Kids always want what their friends have but try not to give in to pressure from them. Set a budget, discuss it with them and make sure you stick to it. You will also be touching them some useful tips around money management. Other parents in their class at school will be doing the exact same thing so don’t think you have to keep up with the Jones’ either.

All that glitters…

Glittering lights really do get us all in the Christmas spirit. Whether it be a modest Christmas tree or fairy lights, remember that these decorations will add to your energy costs. To cut down on bills – just make sure you turn your Christmas lights off when you’re not there or install an automated socket timer.

 Make your presents matter

There’s a great saying about shopping for presents for your children, buy them “something they want, something they need, something they wear and something they read.” Save some of your January sales shopping by choosing presents such as sports equipment or stationery which will be useful for the new school term.

Shop Small

Don’t forget to support small businesses on your local high street this Christmas. If you have an American Express card you can get a £5 statement credit when you spend £10 or more in one transaction from 5 – 20 December. It is a great way of supporting your local smaller shops and also rewards you while you’re buying your Christmas presents or when catching up with friends over dinner.

Sarah Willingham is an ambassador for American Express Shop Small

 

 

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week