CHRISTMAS was disappointing for many families in 2020, so it’s no wonder many people are preparing to splurge this year.
Brits are set to spend an average of £621 each on Christmas in 2021, according to MoneySuperMarket. That’s an increase of 21% from last year.
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But with less 100 days to go until Christmas, how to pay for the presents and all the trimmings is a major headache for many people.
We’ve found six ways to help you save a whopping £957 between now and the big day.
Switch your bank account – £130
Six banks are currently offering you money for switching, according to Martin Lewis.
Santander is offering cash to switchers for the first time in nine years. It pays £130 if you open a Santander 123 Lite account. The account costs £2 a month, but you get cashback on any bills you pay by direct debit from it.
Nationwide is offering £100 if you switch to its FlexDirect account, while HSBC pays £110 to switch to its HSBC Advance account as well as a £30 voucher for either Uber Eats or The Dining Out.
To switch your bank you just need to open a new account. Tell the new bank your old account details and it will do the rest. The Current Account Switching Service guarantee means it should only take seven days.
You’ll need to check before you switch as some will only offer the perk if you make it your main bank account, switch direct debits and pay in a minimum amount each month.
Ditch unused subscriptions – £105
Almost three-quarters of us are shelling out every month for subscriptions we don’t actually use.
Research by Topcashback found this has only got worse since the pandemic, as more than half of people have signed up to at least one new service over the past 18 months.
We shell out, on average, around £16 a month on TV and streaming services, £22 on food delivery, and more than £26 on fitness subscriptions.
Topcashback estimates that we’re each wasting around £105 a year on subscriptions we either don’t use or don’t think are good value for money.
Forgetfulness is the main reason we end up with subscriptions we don’t use – you might forget you ever signed up for something or that you’re being charged after a free trial period has ended.
To avoid this, a good tip is to put a reminder in your diary or phone calendar to jog your memory to cancel something. Check your bank account regularly as this will help you spot any regular payments going out too.
Use cashback websites – £123
Cashback websites get you money back on purchases you make online.
When you buy something on the internet you just need to click through to the website from a cashback site such as Quidco or TopCashback.
It registers your visit and you earn cashback on your purchase.
How much you’ll get depends on the retailer. For example, Quidco is currently offering up to £100 cashback if you buy an Xbox 5 through Argos, 5% from Made.com, and 5.5% from Samsung.
TopCashback says its users earn an average of £300 cashback a year. With less than 100 days to go until Christmas, that means you could save around £63 before then.
You can boost that through its Tell a Friend scheme. If you refer a friend and they earn cashback through the site, you get £30 and they get £10 cashback to spend with Boots.
Once your friend has earned £10 in cashback, you’ll get another £30 too.
Check for unclaimed refunds – £136
If your energy bill is based on your estimated use, you might be entitled to money back from your provider if you used less than it projected.
Only a handful of energy suppliers issue automatic refunds to customers who overpay. Instead, many add credit to your account without you realising.
It’s estimated that 13 million homes in the UK were owed £1.7billion by energy suppliers last year. On average each customer was owed £136.
You can find out if you are due a refund by contacting your current or previous energy supplier. Look back through your bills to see if you’ve been overpaying.
Shop around for insurance – £363
While you’re shopping around for better deals, you might want think about the rest of the household bills too.
MoneySuperMarket estimates that you could save up to £253 by switching your car insurance provider and up to £110 by shopping around for home and contents insurance.
If your insurances are not up for renewal yet, don’t switch early as you may incur a cost.
Instead, put a reminder in your calendar for when they due for renewal. You can usually get the best rates if you shop around about a month before your deal is up.
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