Millions of Brits already financially planning for 'the perfect' Christmas

A study of 2,000 adults who celebrate Christmas found 36 per cent already have financial plans in place for the festive season - despite it being six months away
A survey of 2,000 adults who celebrate Christmas revealed that 36 per cent already have financial plans in place for gifts, family outings and festive party outfits. In fact, some started preparing for Christmas as early as January, setting aside an average of £63 a month to fund their festivities.
The research suggests Brits will attend an average of three celebrations over the festive period, and will plan to buy 12 presents for friends and family. Eight in ten believe forward planning to spread the costs throughout the year is the only way to navigate the festive season without breaking the bank.
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One in five have already started stocking up on gifts - shopping in sales and buying things in bulk to ensure they have extra money for Christmas this year. Others have already snapped up discounted seasonal greetings cards and wrapping paper, and a tenth have started buying new decorations for December.
To maximise any spending that has to be done in the latter half of the year, many are using cashback apps. Meanwhile, others are saving supermarket loyalty points for the big shop.
However it's not just decorations and presents Brits are preparing for. The research found that 36 per cent are already preparing for winter bills, by setting aside additional cash in the summer to help pay for energy as the weather gets colder.
To tighten household expenses, 58 per cent of those with a smart meter are utilising their in-home display to monitor energy consumption and help them out with budgeting to prepare for the more expensive months.
Victoria Bacon, Smart Energy GB's Director, commented on the festive financial strategies: "Planning ahead and budgeting are great ways to help you manage your finances across the year. A smart meter can really help with this as it ensures you receive accurate, not estimated bills.
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"For those on prepay, you get additional benefits such as the ability to top up from home and more easily check your remaining credit."
A third intend to cut back on other areas of their life to ensure they have enough money to fund Christmas – with 43 per cent claiming it's worth doing this to have the perfect Christmas.
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Personal finance expert Lynn Beattie, AKA Mrs Mummypenny, who is working with Smart Energy GB, said: "Spreading the cost of Christmas throughout the year is a great way to minimise spending in December and help you enjoy the festive season."
Check out Lynn's top tips for saving this Christmas:
Save a little bit every week
Placing a small amount into a savings account every week can really add up over time. Many banks offer a round-up function where daily spending is rounded up to the nearest pound, with that amount going to a separate savings pot.
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Start planning - now
If you can identify everything you'd like to do this Christmas, you can work out roughly how much you need to save to cover the entire cost.
Get ahead of your bills using your smart meter
The screen that comes with your smart meter allows you to see your energy usage, make adjustments and save money. If you have a smart prepayment meter you can top up your credit online or over the phone from the comfort of your own sofa instead of going to the shops.
Use loyalty cards and vouchers to pay for Christmas presents
Many places offer loyalty schemes such as supermarkets, where you can collect points and vouchers and use them to buy presents.
Get cash back on all online purchases
Set up an account with the cash back site and go there first to find your chosen retailer. Then click through as normal to your chosen retailer or bill provider, triggering the cookies and getting you the cash back if you make a purchase.
Sell your clutter
I urge you to spend ten minutes looking around your house and finding ten items that you no longer use or want that you can sell.

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