Christmas 2024: 8 ways to boost your festive funds

With Christmas around the corner, it’s the perfect time to give your budget a boost and ensure the festive season doesn't dent your finances. 

Even small adjustments, such as booking travel early or tapping into cashback offers, can add up to surprising savings.

Here, Which? rounds up eight smart ways to make your budget stretch further for Christmas.

1. Get cash for switching bank accounts

Many of us stay with the same banking provider for years, but you might be able to earn a significant cash bonus if you switch, plus better perks such as a market-leading savings account or fee-free spending abroad.  

Right now, there are five switching incentives available, offering up to £200:

Lloyds: Natwest: Nationwide:First Direct: Co-Operative Bank: Find out more

2. Utilise budgeting apps

If you’re struggling to stick to your Christmas budget, consider trying free budgeting tools. 

These apps bring all your accounts into one place, making it easier to manage expenses and identify where you can save. Some popular options include: 

Emma:HyperJar:Plum:SnoopFind out more

3. Try a savings challenge

A savings challenge can be a simple way to build up extra funds. Here are a few options to get started: 

Little Vices Challenge5p ChallengeCancellation ChallengeRound-Upsundefined

4. Beware Black Friday dud deals

Black Friday can be a chance to snag genuine discounts, but not every advertised 'deal' offers real savings. 

Many items drop to their ‘sale’ price multiple times a year, meaning the discount might not be as good as it seems. 

Find out more

5. Get cashback on your spending

Simply click through the cashback site to your chosen retailer, make a purchase, and collect a percentage back. Just be sure to double-check that the retailer you use offers the best price compared to buying elsewhere.

You might also benefit from a cashback credit or debit card. Some credit cards offer up to 5% cashback for the first few months, while providers such as Chase give 1% back on everyday spending. Just remember, with credit cards it’s best to pay off the balance in full each month to avoid interest charges.

Find out more: 

6. Use loyalty schemes and discount codes

Loyalty schemes, coupons, and discount codes can help make your budget go further.

Supermarket loyalty programs like Tesco Clubcard and Sainsbury’s Nectar Card offer exclusive discounts, rewards, and points you can put toward future purchases.

If there’s something special on your list, signing up for retailer newsletters could unlock extra savings, including introductory offers or personalised discounts sent to your inbox. Some retailers even provide discounts if you refer a friend.

For online shopping, tools such as Coupert and Pouch are free to use and automatically apply available discount vouchers to your basket, so you don’t miss out on savings.

Find out more

7. Cut food costs

The cost of festive feasts can add up, but these tips can help you reduce your expenses and avoid excess waste:

Plan ahead:Choose a cheaper supermarket:Share the costMake the most of leftoversFind out more

8. Book travel now

Visiting family and friends over Christmas can be costly, but planning ahead can help you save on travel expenses.

Buy train tickets in advance:Use a railcardFind the cheapest petrol

source https://www.which.co.uk/news/article/christmas-2024-8-ways-to-boost-your-festive-funds-adEPu1l8iKPf