IT’S the most wonderful time of year – and the most expensive.
We warned yesterday how parents face a costlier Christmas than ever as toy prices rocket due to problems with shipping from China, where most are made.
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According to the Bank of England, families already spend on average an extra £740 in December.
Tara Evans and Lucy Alderson have tips to help fund the festive season . . .
USE CASHBACK
Save £300 a year
THIS is a no-brainer. You get FREE money back when you shop online.
Shoppers who use cashback save £300 a year on average, according to TopCashback.
Log on to a cashback website such as this or Quidco, click through to the retailer then find the item you want to buy. Do your research beforehand to make sure you have the lowest price.
Abigail Yearley of TopCashback says: “With an expensive winter ahead, there is no time like the present to start thinking about how you can make savings.”
USE FOOD WASTE APP
Save £610
THESE can stop you spending money on food you end up not eating and throwing away.
A good one is Kitche. It is free, keeps track of the food you have bought and suggests recipes to use it up.
It promises to save households as much as £610 a year. If you used it for four months until Christmas, that is £210 more to spend on other treats.
Another useful app is Too Good To Go, which helps you find heavily discounted food from restaurant, cafe and food brands including Greggs, Costa and Morrisons.
HAGGLE OVER YOUR BILLS
Save £100
IF you are outside the minimum contract with any of your bills and don’t want to leave, then you should try haggling.
Firstly, take the time to do your research and find a deal that is cheaper than your existing one.
Ring up your bill supplier and explain that you want to part ways with them unless they can match the better package you have found elsewhere.
Many firms will value your loyalty and so will offer you a discount in an effort to get you to stay with them.
END SUBSCRIPTIONS
Save £625
CANCELLING unused subs can save up to £625 a year, says Snoop – an app that analyses your spending and suggests ways to save.
Archna Luthra, from Snoop, says: “A quick audit of your subscriptions can free up cash. Even if you don’t cancel a subscription, you may be able to save.
“For example, pay annually to get a discount or buddy up with a friend.
“Another trick is to go through the process of cancelling.
“Often you will find a discount just before you pull the plug.”
CLAIM BACK TAX
Save £280
YOU could claim up to £280 for working from home, even if you’re now back in the office.
The sum you get depends on the tax you pay. It is refunded throughout the year via your pay. Previous years come as a lump sum. You can claim up to £140 per year and backdate over two years.
MoneySavingExpert’s Guy Anker says: “If you worked from home just one day, you could be eligible.
“It’s simple to claim on the Government website if you’re on the PAYE system. If you’re self-employed, then claim via your self-assessment form.”
CHECK BENEFITS
Save £2, 127
ENSURE you get all the cash you’re eligible for – as you could be missing out on up to £2,127 a year, says financial advice charity Turn2Us.
The amount you can claim varies with personal circumstances but the benefit most people are losing out on is Universal Credit, followed by Council Tax Support.
Sara Willcocks, of Turn2Us, said: “Millions are not claiming benefits we are entitled to.”
You can use the Turn2Us benefits calculator to check what you are due.
SWITCH ENERGY FIRMS
Save £215
POWER bills are set to increase by £139 a year for 11million customers from October.
But if you switch suppliers now you could save even more – as much as £215 a year – and have a bit more money in your pocket just as the run-up to Christmas approaches.
Finding ways to save ahead of the festive splurge can seem a little daunting, but this is one quick and simple way that pays rich rewards.
Switching providers takes just a few minutes of your time, so what is not to like?
Millions are not claiming benefits we are entitled to.
Sara Willcocks, of Turn2Us
SELL CLUTTER
Make £1,000
FAMILIES are sitting on an average of £1,000 worth of unwanted clutter, according to eBay.
Use websites such as eBay, Facebook Marketplace and Gumtree to sell off old clothes, books, gifts or even furniture. But do keep an eye out for selling fees, which will eat into your profit.
A lot of people have been flogging now-unwanted lockdown purchases in recent months. Emma Grant from eBay says: “One family’s lockdown pastime is another’s new-found hobby.”
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