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The best Christmas money saving tips

It’s that time of year again, with household budgets squeezed, many people are worried about covering the cost of the festive season. To avoid a debt hangover in the New Year, Progressive operations director Declan Moore lists his top tips for a festive yet frugal Christmas.


Paying for Christmas out of one pay packet alone can be challenging, so it makes sense to save up as much as you can beforehand. It is advisable to save money to pay for Christmas rather than to borrow money to cover Christmas spending. Borrowing money can come at a cost with interest rates and fees. 


When buying Christmas presents it’s easy to get carried away and for spending to spiral. Make sure you cap spending by setting a limit for each individual you are purchasing gifts for and stick to it. Shop online for the best deals and take advantage of offers such as three for two deals.


Its sounds old fashioned but it is simple and it does work. At the end of each day, gather up your loose change and put it into a jar. By doing this and counting how much you have set aside each week you will be amazed at how much you can save over the next few months. Make sure to transfer the money into a savings account, speak to a Progressive member of staff in any of our 12 branches across Northern Ireland to find out more about our range of savings products.


It’s never too early to start your Christmas shopping and one of the easiest ways to save money when food shopping at Christmas is to plan exactly what you need and shop around for the cheapest ingredients. Use price comparison sites and if sell by dates allow, pick up bargains now that you can use come December. 


The earlier you start saving, the less you need to put aside each month. Even a small amount over a few months can make a big difference. Why not set up a standing order and transfer £50 per month into a savings account and by December next year you’ll have £650.

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