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Brits share their top tips for a low-cost Christmas

26 November 2014

Down-shifting supermarkets, using loyalty points, traditional family days out instead of ‘Christmas experiences’ and agreeing price limits for gifts all feature

Vouchers, discount codes and loyalty points top the list of the nation’s top tips for saving money at Christmas, with just over half (52%) of UK adults using them to cut the cost of celebrating the festive season, according to a new survey* released today.

Over 2,000 UK adults were asked about ways to trim the cost of Christmas – revealing a sack full of Christmas budgeting ideas including down-shifting your supermarket, planning ahead to avoid last minute panic purchases, avoiding expensive ‘Christmas experiences’ and agreeing a price limit for gifts between family and friends.

The survey, commissioned by Gocompare.com, also confirms that women are savvier Christmas shoppers than men. They are much more likely to plan ahead and use a range of purse-pleasing tactics including using discount and money-off schemes, setting and keep to a budget and hand make gifts and cards to keep costs down:

Rank

Top Christmas money saving tip

Total (%)

Men (%)

Women (%)

1

Use vouchers, discount codes or loyalty points

52

45

59

2

Set a budget for presents and keep to it

45

40

49

3

Buy presents in the sales

39

36

42

4

Avoid expensive Christmas experiences

37

39

36

5

Plan gift ideas in advance rather than buying at the last minute

36

28

43

6

Cut down the number of people you buy presents for

36

31

40

7

Agree a price limit for gifts for family and/or friends

36

31

40

8

Shop at a cheaper supermarket than last year

30

28

31

9

Use money-off apps

20

19

20

10

Reduce the number of people on your Christmas card list

19

18

20

11

Swap you Christmas turkey for chicken or other meat

17

18

16

12

Reuse or make your own Christmas wrapping paper

15

13

16

13

Plan traditional family days out instead of expensive treats

14

13

16

14

Make homemade gifts or cards

14

10

18

15

Drink at home before going to a Christmas party to save money on buying drinks when out

14

15

13

16

Buy joint presents with family or friends

14

12

15

17

Send e-cards or emails to save on the cost of buying Christmas cards and postage

13

14

13

18

Use a 0% credit card to spread the cost of Christmas

11

14

8

19

Create homemade Christmas games

7

7

8

20

Invite yourself to eat Christmas dinner at your parents’ house (or other relative or friends’ house)

7

8

7



Commenting on the research, Claire Peate, customer insight manager at Gocompare.com said, “For many people, Christmas puts added strain on already stretched finances – but as our survey shows, some forward planning, sensible budgeting and a little Christmas creativity can help you shave the cost of your festive spending.

“Money-off coupons, loyalty points and apps can help cut the cost of a wide range of goods and services – from supermarket shopping, books, restaurant meals to days out, enabling you to reduce the amount you spend without compromising your festivities.     

“Credit cards can also be an effective way to spread the cost of Christmas – but only if you budget wisely and keep to an amount you can afford to repay. In particular, look for cards which offer a generous interest-free period on new purchases which will give you time to pay-off your Christmas spending without adding interest to the debt.”

-ends-

Notes to editors:

*On 18 November 2014 an online survey was conducted among 2,004 randomly selected British adults age 18+ who are also Springboard United Kingdom Community members. The margin of error—which measures sampling variability—is +/- 2.2%, 19 times out of 20. The results have been statistically weighted according to the most current data on age, gender, region, and education from the most recent census data, to ensure the sample is representative of the entire adult population of the UK. Discrepancies in or between totals are due to rounding. Gocompare.com is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.