Cost cutting ideas to help you celebrate Christmas without the debt

Presents, food, parties and decorations – the cost of Christmas can really add up. And with the current cost of living crisis, it’s more important than ever to watch your spending this festive period.

Remember, you’re not the only person struggling to keep your head above water financially. More of us than ever before will be on a strict Christmas budget this year to avoid starting the new year in debt and ensure important bills (like your rent) still get paid.

There are lots of simple things you can do to cut costs and maximise your money including:

Check you are on the best value tariffs

You might be throwing money down the drain each month paying more than you should for bills such as mobile phone and broadband. If you receive Universal Credit, did you know you’re eligible for low-cost broadband that could save you up to £140 a year? Media watchdog Ofcom believes millions of people on benefits are missing out on cheaper broadband tariffs because they aren’t well promoted. Everyone in receipt of Universal Credit is eligible for a social tariff, and some providers also extend eligibility to those in receipt of other income-related benefits, such as Pension Credit, Employment and Support Allowance and Income Support.

Ask your broadband provider for details or search for broadband social tariffs online.

Make sure you receive your full benefit entitlement

Millions of pounds of benefit money goes unclaimed each year simply because people aren’t aware they could receive it or don’t know how to claim. It’s quick and easy to see if you are entitled to receive any new or extra payments and if you need a hand making an application simply get in touch with our Welfare Rights & Money Advice Team.

Make a budget

This is an important money planning tool at any time of year, but particularly at Christmas when there is so much temptation to overspend. Look at your income and then list all your expenses such as food and presents, remember to put aside money to pay for priority bills that still need paying like rent and utilities. Use the Budget Planner to plan your income and spend, and if your predicted costs add up to more money than you have, you’ll need to cut back your wish list and economise.

Think outside the box

You’re not the only person struggling with finances, so talk to friends and family and suggest ways you could all save money. Give your time instead of buying presents, make handmade gifts or suggest setting a £5 or £10 limit.

Remember, although the TV adverts constantly encourage us to spend, spend, spend, a magical Christmas doesn’t have to mean breaking the bank. It’s about spending time with family and friends and being thankful for what we have.

For more advice on money, debt and benefits at Christmas and any time of the year talk to our Welfare Rights & Money Advice Team and check online for more information on how to get help with the cost of living. As well as online support, we are also producing a Cost of Living leaflet which will be distributed across Southampton, and we’d love to hear your views on the draft document.  Please take a look online and tell us what you think of the images, topics and wording we have used.