Small changes to everyday spending could help households free up extra cash before the festive season. With Christmas just weeks away, many households will be looking for ways to make their money stretch further as the cost of presents, food and festive celebrations starts to add up.
The festive season can be one of the most expensive times of the year, particularly for families already juggling household bills, grocery shopping and other everyday expenses. With colder weather bringing higher heating costs and energy bills already rising this autumn, the additional expense of Christmas presents, food and social events could put even more pressure on household budgets.
However, finding extra money for Christmas doesn't necessarily mean making drastic changes or giving up everything you enjoy. Taking a closer look at regular spending habits could help identify simple ways to cut costs over the coming weeks.
Everyday habits that add up
From buying fewer takeaway coffees and preparing lunches at home to reviewing monthly subscriptions, small adjustments to everyday routines could leave more money available for festive spending. There may also be opportunities to bring in some extra cash by selling unwanted clothes, toys and household items that are gathering dust.
With less than seven weeks until Christmas Day, now could be a good time to review your spending and make a few changes that could also help keep costs down into the new year.
Cut back on alcohol and coffee
Whether it's a bottle of wine with dinner or a few drinks at the weekend, alcohol can account for a sizeable chunk of regular spending. Cutting back on the number of drinks you buy each week could leave you with more money to put towards Christmas shopping or festive celebrations.
You don't have to give up alcohol completely to make savings. Having a few alcohol-free days each week, avoiding buying rounds or setting a spending limit before heading out could all help reduce costs. The NHS also recommends setting a budget and switching to lower-strength drinks as ways to cut down.
Buying a takeaway coffee on the way to work can become an expensive habit, particularly for anyone picking one up every weekday. Making your morning coffee at home and taking it with you in a reusable cup is a simple way to reduce daily spending.
You could also consider keeping coffee, tea or other hot drinks at work rather than visiting a café during breaks. Even cutting back on takeaway coffees a couple of days each week could make a difference to the amount of money left in your account at the end of the month.
Trim food costs and subscriptions
Buying lunch during the working week is convenient, but the cost of sandwiches, salads, snacks and drinks can quickly add up. Preparing lunch at home the night before could help reduce spending, particularly if you regularly buy meal deals or visit cafés. Making an extra portion of your evening meal and taking the leftovers to work the following day is another option.
Switching from branded products to supermarket own-label alternatives could help bring down the cost of everyday groceries. Comparing prices between different pack sizes and checking the price per kilogram or litre can also help identify better value products. Planning meals before heading to the supermarket and writing a shopping list could reduce impulse purchases and prevent buying food that ends up being thrown away.
Streaming services, music apps, gym memberships and other monthly subscriptions can quietly eat into household budgets. Checking recent bank statements could help identify regular payments for services you no longer use or need. Some people may also be paying for free trials that automatically convert into paid subscriptions.
MoneyHelper recommends reviewing regular payments and checking renewal dates to avoid paying for unwanted services. Before cancelling, check whether your subscription has a minimum contract period or early termination charges.
Sell unwanted items for extra cash
Clearing out wardrobes, cupboards and drawers could provide an opportunity to make some extra money before Christmas. Clothes, shoes, handbags, books, toys and unwanted household items could all be worth selling if they're still in good condition.
Online marketplaces such as Vinted, eBay and Depop allow people to list unwanted belongings, while local selling groups may be useful for larger items. Taking clear photographs, providing accurate descriptions and checking similar listings could help attract buyers. It's also worth checking any selling fees and postage costs before listing items to make sure you're getting a worthwhile return.
MoneyHelper recommends a pre-Christmas clear-out as one way to raise extra cash, particularly as shoppers may be looking for second-hand gifts. Making even one or two of these changes over the coming weeks could help reduce everyday spending and leave a little more money available for Christmas.
