Save money this season with a few simple tricks (Image: Getty)
Christmas is a time for spreading joy, but the cost of giving can quickly put pressure on household finances. Research from Rakuten, a cashback and rewards platform, found that Brits spend an average of £263 on Christmas gifts each year, while more than a third (34%) feel pressure to cut back on their festive spending.
With shoppers preparing for the Christmas rush, Bola Sol, Rakuten’s cashback expert, has shared a series of tips designed to help households make their money go further. Here are five ways shoppers could potentially cut the cost of their festive spending.
Avoid making impulsive decisions when purchasing your gifts (Image: Getty)
1. Give yourself 48 hours before buying
Christmas shopping can encourage impulse purchases, particularly when shoppers feel under pressure to get everything ticked off their list.
Rather than immediately checking out, shoppers could leave items in their online basket for around 48 hours.
Ms Sol told Express.co.uk: “Some retailers send follow-up emails with exclusive discounts or offers to encourage you to complete your purchase, helping unlock extra savings. Doing this also gives you time to consider whether this is really the right gift to buy.”
2. Stagger your purchases
Leaving all Christmas shopping until December could mean missing out on early sales and putting unnecessary pressure on the household budget.
Instead, Ms Sol said: “Keep an eye out for sales before the festive rush as stock, trends and seasonal offers mean you could bag a pre-Christmas bargain.”
This can be particularly useful for more expensive gifts, where even a relatively small reduction can make a noticeable difference to the final Christmas bill.
3. Use price trackers
A discount does not necessarily mean a product is at its cheapest.
Ms Sol said: “Before buying, shoppers can use price tracking tools to see how the current price compares with previous prices, especially on higher-value gifts such as tech, toys, beauty tools and homeware. This means you can strike when the deal is at its best.”
4. Check cashback before you shop
Cashback sites can provide another way to reduce the effective cost of Christmas shopping.
Ms Sol says shoppers can combine cashback with other money-saving methods. Existing members at Rakuten may also be able to earn through its referral scheme, with new members offered an introductory 10% cashback on all purchases during their first week.
There are several other cashback options worth checking before making a purchase.
TopCashback allows shoppers to click through to participating retailers, make their purchase and receive cashback once the transaction has been tracked and becomes payable. It says its Classic account is free.
Quidco offers cashback at thousands of retailers, with shoppers able to withdraw confirmed cashback to a bank account or PayPal, or choose certain gift cards. Its rates and eligibility vary by retailer, so shoppers should check the individual terms before buying.
JamDoughnut offers cashback on online and in-store spending and says some offers provide instant rewards, with new offers added regularly.
The key is to check the cashback rate and terms before clicking through to a retailer, as using certain external voucher codes or failing to meet an offer’s conditions can mean cashback is not paid.
Pay with gift cards and points
Before starting your Christmas shopping, take a few minutes to check whether you have any unused gift cards, loyalty points or store credit sitting in old accounts and apps.
Ms Sol added: “Putting savings you’ve already earned towards your festive budget is an easy way to keep more cash in your pocket.”
