Parents have it tough at Christmas time. They must keep up with the expectations of their children and they should do it without destroying their bank accounts. We have some money saving tips that will help you save for this Christmas and some clever tricks to make sure you save money next Christmas. If you are looking for last minute Christmas tips and ideas then our friends at Alexander & Co chartered accountants have put together a list of tips to help you over the busy christmas period.

The Answer is Preparation

The big-ticket items you buy should never be bought at Christmas. Prepare in advance by buying them in the middle of the year, or even buying them immediately after Christmas for next December.  You can save hundreds of pounds just by doing this.

You can do the same by joining a Christmas savings club. In January, you set aside a portion of money every week via direct debit. The club you’re saving with will dispense your money in the form of vouchers, or even just straight cash, at the end of the year. This will ensure discipline and stop you from accidentally spending too much throughout the year.

Use Your Vouchers

The voucher site Groupon is perfect for getting those great deals throughout the year. Make sure you start using them now to pay for Christmas. Little savings really do add up. Voucher codes will only save a pound here or there, but those pounds can quickly add up.

You should get into the habit of using vouchers regularly so you can put the savings aside for Christmas.

Begin Thinking About Next Christmas

Most parents start thinking about Christmas in October or November. This is already too late. You’ve missed the big deals and you’ll have to join the rush with everyone else. By October savvy parents have already finished their Christmas shopping.

So, what do they do?

They take advantage of both the Boxing Day and New Year’s Day sales. These days you don’t have to go down to the shops to get great deals. As Black Friday Amazon deals have demonstrated, you can rely on online retailers to provide great deals on these days. Start buying gifts for next year immediately after one Christmas has ended.

Stop the Pain of January

January is hard for a lot of families because that’s when their credit card bills arrive. So many families are stunned by how much they spent on the festive season. Most parents put Christmas on their credit card because they didn’t save in advance.

You can always start a challenge, like the 52-Week Saving Challenge. Challenges like this will encourage you to make saving fun. By the time next year comes around you’ll never have to borrow money to give your family a great Christmas.

Just as a side note, you should never put Christmas on your credit card. It’s an easy way to get tempted to splurge and ruin your credit history in the process.

Conclusion – Preparation and Discipline

The two characteristics you need to save money for Christmas are preparation and discipline. Next Christmas should start in January and you need to force yourself to stick to your savings plans. That’s why dedicated savings accounts and direct savings debits are necessary.

How will you make savings at Christmas?