With Christmas just around the corner, the LoanTube experts have compiled their list of money-saving tips, including the use of price trackers and information around Christmas Loans. ⭐Christmas Budget ⭐Money Saving Tips
Christmas should be the most wonderful time of the year. It is a time for celebrating with friends and family and getting into the festive spirit.
However, for many, the sheer cost of gifts, food and travelling puts a strain on the festivities. This financial crunch around December can cause significant stress for those who feel the pressure to put on a good celebration, despite not having the money to do so.
Here at LoanTube, we believe Christmas should be for everyone, including those who find themselves with a little less money than usual at this time of year. Our experts have noted down their top tips for saving money during Christmas, and have also given details about loans for the Christmas period.
Following these tips can help ensure you and your family have an enjoyable Christmas whilst not going overboard on the spending.
Maximise your options: Compare and apply for loans below with LoanTube
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Loan Amount
£4000 -
£20000
Norwich Trust
Loan Term
1 -
10 years
4.8/5
Representative APR
31.90%
Minimum Age
21 Years
Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.
4.8/5
Norwich Trust
Loan Amount
£4000 -
£20000
Loan Term
1 -
10 years
Representative APR
31.90%
Minimum Age
21 Years
Minimum Income
£2000 per month
Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.
Loan Amount
£5000 -
£100000
Evolution Money Loans
Loan Term
1 -
20 years
4.5/5
Representative APR
28.96%
Minimum Age
18 years
Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00
4.5/5
Evolution Money Loans
Loan Amount
£5000 -
£100000
Loan Term
1 -
20 years
Representative APR
28.96%
Minimum Age
18 years
Minimum Income
Not mentioned
Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00
Loan Amount
£1000 -
£10000
1Plus1 Guarantor Loans
Loan Term
1 -
5 years
4.4/5
Representative APR
39.90%
Minimum Age
18 years
Representative Example: Borrowing £3000 over 36 months with a representative APR of 39.9% (variable),the amount payable would be £134.21 a month,with a total cost of credit of £1831.56 and a total amount payable of £4831.56.
4.4/5
1Plus1 Guarantor Loans
Loan Amount
£1000 -
£10000
Loan Term
1 -
5 years
Representative APR
39.90%
Minimum Age
18 years
Minimum Income
Not mentioned
Representative Example: Borrowing £3000 over 36 months with a representative APR of 39.9% (variable),the amount payable would be £134.21 a month,with a total cost of credit of £1831.56 and a total amount payable of £4831.56.
Set a Christmas Budget
- There is a reason this is our number one tip. Setting a budget before doing your Christmas shopping is a great way to avoid any impulse spending on unnecessary extras. It is also a great incentive to properly plan each aspect of Christmas – the food, the gifts, the decorations, the socialising etc.
- Write down the amount you can realistically afford to spend over the festive period and then divide that amongst the various categories. You can then begin to micromanage your spending and avoid overspending on items or gifts that aren’t needed.
- For gifts, write down all of the family and friends you will buy for and then allocate an amount for each person. For food and drink, consider how many people you will be cooking for and how much you need to spend. Try not to overspend on food which will be wasted.
- There are lots of applications out there to help you track your spending. These apps can be a vital tool in keeping on top of the urge to overspend. A few of these applications include Wallet, Money Manager, and 1Money.
Use Price Trackers
- Online price trackers are a relatively new invention that a lot of people won’t be aware of. When buying online, many people will overspend due to not realising the item they are purchasing is cheaper elsewhere.
- Luckily, there are now clever websites and applications that can search the whole of the web in a matter of seconds to find the item you want to buy, at the cheapest price.
- Websites like Idealo will scour the web to find the best retailer to buy from, and give you an in-depth look at the price history.
- camelcamelcamel is also a useful tool when used on Amazon. This application tracks prices on Amazon products. If you sign up for a free account, you can set up alerts so you can be notified when an item drops below a certain price.
- Whatever tracker or application you use, ensure you are not paying over the odds for any gift this Christmas.
Secret Santa is Your Secret Weapon
- Secret Santa is a well-known tradition for many. It is a gifting game where you put the names of your friends and/or family into a hat, then each draws a name at random. You then anonymously get whoever you drew out a gift, meaning you only buy one gift in total. Usually, the budget for the game is set relatively low – £5, £10 or £20.
- Asking your friends or family to participate in a Secret Santa can help save you money by avoiding having to get gifts for every family member and friend. It can also level the playing field with a set budget, meaning there is no competition when thinking of which gifts to get and how much to spend.
- A great tool to use for setting up your Secret Santa is Elfster. On this website, you can sign up for free, enter the names of your Secret Santa and your budget. The website then does all of the work for you. Elfster lets the other participants know about the Secret Santa via email and you can even set up wishlists.
Get Cashback on Gifts
- The festive period will see you doing more shopping online than at any other time of year, so this is particularly important. Shopping via cashback sites like Quidco and TopCashback can help you save a little every time you spend online.
- These sites work by giving you back a small percentage of your total spend. They do this by passing on their advertising commission to you when you use their browser. It is the perfect way to earn a little bit of cash while buying your Christmas gifts.
- Quidco also partners with 4,500 tops brands, meaning you don’t have to shop at unknown retailers to use the service.
Use eBay to Buy and Sell
- eBay could become your new best friend over the Christmas period, for both buying and selling gifts. Many people on eBay are selling unwanted gifts at reduced prices on the online shopping site.
- Gift cards, in particular, are known to go for as much as 20% less than their retail value. If you are stuck on what to get someone but know they shop at a particular store, search eBay for a gift card to see if you can get it for a fraction of the price.
- This also applies to sell any unwanted gifts for a little extra cash. Our rule here at LoanTube is if you haven’t used the gift since last Christmas, get rid!
- Also, keep in mind Facebook’s selling platform which is competing for eBay’s spot as the go-to place to buy and sell online.
Book Any Travel in Advance
- If you are travelling home to see the parents or the in-laws, make sure you book your train tickets well in advance of the festive period. Train tickets have been known to skyrocket during December due to train companies knowing there will be demand.
- Train tickets for Christmas are already out and their price could double between now and then. It is well worth being organised and booking them in advance.
- Always check whether there are cheap advance tickets before travelling. If you think you’ve missed a trick, many train companies now let you buy tickets on the day and they may also be cheaper that way.
Save Throughout the year
- Experts estimated that the average family spent £719 on Christmas. However, so many families struggle to fund their Christmas spends due to trying to tackle all of that cost by using December’s pay packet alone.
- Saving a little bit each month throughout the year can help ease this pain. The earlier you start saving in the year, the less you will need to put aside each month.
- Clearly, this tip is a little late for this Christmas, but that doesn’t mean you can’t start saving for next Christmas. Put a little aside start from January 2020 and see how much of a difference it makes further down the line.
Find the Perfect Christmas Loan
Sometimes, all of these money-saving tips just aren’t enough. Many people still need a little help with their Christmas spending. Luckily, there are lots of options for UK Christmas Loans.
LoanTube offers a wide range of personal loans and short-term loans to tide you over until the new year. The details of these loans are:
- Short-term Loans Range: £100 to £1,000 (for 1 year)
- Personal Loans Range: £1,000 to £35,000 (1-7 years)
Although these sort of Christmas loans are sometimes associated with individuals who have had financial difficulty in the past, people with all types of credit history are welcome to apply and a loan of this sort can solve any Christmas spending worries. As long as you can afford it, there are lenders out there who can lend you.
Clearly, taking out a loan is a big responsibility, and everyone’s circumstances are different. For many, however, it may be the perfect fit. You can also read our blog on why it is often ideal to use a payday loan for emergencies.
How can LoanTube help you?
- Here at LoanTube, we understand that this time of year can have a strain on your finances. Our website can offer those who need a loan a quick and easy comparison service at no cost.
- The application process is quick and easy, and we use a Soft Credit Check which means your credit score will not be harmed.
- Whether it is to tide you over until the new year with a short-term loan for Christmas, or it is to consolidate any existing debts, our comparison tool can compare actual APRs and interest rates across a number of different lenders we work with.
You can start your application and apply for a quote.
