Want to have a savvy Christmas this year? Then follow some simple money-saving steps

With consumer confidence in the economy continuing to grow, many of us may be tempted to splash out a bit more this Christmas than we have done in recent years.

Just how much depends on whose figures you are reading.

The average UK adult is set to spend £530 this festive season, equating to a total seasonal spend of £26bn across the country, according to research from the Government-backed Money Advice Service (MAS).

That’s a total of £2bn more than last year.

However, according to eBay research, the average shopper in the Oxford area will spend £280 on gifts, with women spending £40 more than men.

Maybe we are more careful with our cash, or meaner... or it could be that statistics can notoriously be used to prove anything.

Certainly, the frenzied scenes as shoppers piled into stores on Black Friday, with yet more mayhem on Cyber Monday, suggest there’s a strong appetite for a bargain or two this year.

But behind all this brisk activity, many people are still feeling the pinch, not least because wage growth is yet to start taking off. Indeed, nearly one in three (30 per cent) people fear it will be a tougher struggle to afford Christmas than it was last year (that’s those MAS figures again).

While Christmas is a time for families to come together, it’s the pressure of trying to please loved ones that causes spending to get out of hand for many people at this time of year.

To help, MAS, a free-to-use, independent body, has a money planner tool on its website which can help people prioritise their budget at moneyadviceservice.org.uk/christmas.

In the meantime, here are some tips for a savvier Christmas: Fix your budget. List what you expect to spend, from decorations to food. Around £28 is spent per person typically over Christmas on food and drink that never gets used.

Boost your Christmas fund. Try to make savings now so you’ll have a bigger budget over the festive season.

Compare the high street and the internet. Shopping online can often be cheaper, but not always. Look out for discount vouchers.

Tempting treats. Look out for multi-buy discount deals in supermarkets, but remember they’re only a bargain if you’re actually going to use them.

Freeze it. Freezing essential items now can help you spread the cost and save a last-minute dash around the supermarket later. Perhaps you could keep a list of what’s in the freezer so you don’t double up.

Making Christmas cards, decorations and cakes from scratch can add the personal touch as well as saving you money.

Think twice if you’re offered store credit. While you might get an instant discount on a purchase from using a store card, you could end up with a New Year debt hangover and these cards often come with hefty fees.

Send cards in plenty of time. The deadline for sending cards via second class delivery in time for Christmas is December 18 (next Thursday). At 53p for a second class stamp and 62p for a first class stamp, the saving could add up if you have lots of friends and family.

Use your credit card wisely. If you’re splashing out this Christmas, remember that paying by credit card could help if something goes wrong with your purchase. Under section 75 of the Consumer Credit Act, consumers are potentially protected for the total value of a purchase, even if they only used their credit card for part of the payment, provided the total cost of the item is between £100 and £30,000. This means that you could get extra peace of mind if an item is faulty or if the retailer does not deliver what it has promised as the credit card provider could be held jointly liable for the loss.

Make a New Year’s resolution. Start a savings plan now for the festivities in 2015, perhaps by setting up a regular savings account.

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