Fund Your Perfect Christmas

Halloween has passed us by, which means that it is now officially Christmas. Everywhere you look starting November 1st is full of decorations, treats, adverts and idea for the big event. But not many companies share with us tips on how to fund all of this stuff.

Christmas can be an incredibly expensive affair. Once you’ve looked at buying a new tree for the centre of your home, you will want to deck the halls with festive candles, wreaths and plenty of lights. And then you need to tackle the presents, wrapping equipment, food…alcohol. There’s a lot that goes into making Christmas, and you will need a pretty penny to afford it all without going bankrupt. But what is the best way to save up for your festivities? Let’s discuss…

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Savings Accounts

The most common form of saving money, a savings account will allow you to put away your money over a few months and accrue interest on what you save. It’s simple and effective.

High-Interest Current Account

It might be worth shopping around every now and again for a new bank. You will find that interest rates are always changing, but you could find a high interest current account. This will mean that you’ll be able to make more interest on the money you put into the account. However, be aware that if you are always moving money out the account, you won’t gain as much interest.

Another benefit to switching your bank is that many banks and building societies will offer you £100 or more just for switching to them. So you could pay for that Christmas tree straight away.

Regular Savings Account

Unlike a savings account, a regular savings account requires you to put money in every single month. You will be able to choose how much you put in, but make sure that you put in an amount which you are comfortable with. Make sure that you know how much notice you have to give before withdrawing the money you’ve saved so that you can take it out in time to spend at Christmas.

Cash ISA

Taking out a Cash ISA is a really good idea if you are willing to have no access to the money you put in for a certain period of time. When you put money into an ISA, you accrue interest just like any other savings account- the difference is that this interest is totally tax free.  

Loans

If you feel like you aren’t in a position to save up a large chunk right now, but you will get paid a significant amount after Christmas; then taking out a loan may the best way to go. You’ll be able to look on sites such as www.verymerryloans.com and take out a small term loan to keep you going for the festive period.

Christmas Clubs

You’ve probably already seen the adverts for Park, advertising a way for us to save for Christmas 2018. The point of these Christmas clubs is to put money in throughout the year, and redeem that money as vouchers to spend on your festivities.

Supermarket Saving Schemes

Similar to the Christmas clubs, supermarkets offer saving schemes in which you save money throughout the year and then at the end of it, you will get vouchers to spend in store. Make sure that you can buy pretty much everything you need from the store you decide to save with.

Christmas Budgeting Tips

If you need some help to begin with when saving up for events like this, then we are going to talk through some ways you can learn to budget your money throughout the year to make it much easier for you to save up.

First of all, you will need to learn to look at your bank account regularly. It is crucial that you know how much money is in your account at any one time, and that you also know where your money is going each month. Take the time to go through your statement and find those small bits of money which you didn’t need to spend. An extra coffee at work or a cheeky panini at lunch can rack up if you do it often. Being able to see where you spend your money will allow you to curb your spending in certain areas of your life. This will mean that you have extra money left over at the end of each month to put aside for a rainy day. And don’t be afraid to shop around if you think you are paying too much for your energy bills. Be willing to go and find a deal which suits you.

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Cascade of Colour is a UK Male Lifestyle blog delving in to the world of Mens Fashion and Grooming, Food, Music, Design, Tech and Travel. Want to get in touch? Drop me an email at cascadeofcolour@gmail.com

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