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Who says there isn’t something for nothing? By following our seven simple steps you can save the cost of Christmas this year, with minimal effort and without having to cut corners.
The cost of celebrating Christmas (including gifts, decorations, socializing and travel) will average £563 this year, according to the Institute of Practitioners in Advertising. For a couple, that’s a total spend of £1,127.
Here’s how you can cover the cost for free.
The cost of celebrating Christmas (including gifts, decorations, socializing and travel) will reach an average of £563 this year.
CHANGE YOUR CURRENT ACCOUNT: £200
Several major banks offer generous deals to new customers switching their checking account.
NatWest offers £180 per exchange and First Direct £175. Lloyds currently has the most attractive exchange bonus of £200, a nice sum to help you pay for your Christmas shopping.
You will need to upgrade to a Club Lloyds, Club Lloyds Silver or Club Lloyds Platinum account to qualify.
In addition, you must transfer three active direct debits through the Current Account Change Service.
You will not qualify if you received an exchange bonus from Lloyds, Bank of Scotland or Halifax since April 2020.
All three cards have monthly fees. Club Lloyds is the cheapest of the three with a monthly fee of £3, which is refunded every month you pay £2,000 or more into your account.
The change takes up to seven business days and is handled by your new bank. Your balance will be automatically transferred and your old account will be closed.
Don’t just choose the account with the most attractive exchange bonus. Check the reviews and terms and conditions of the account you are considering to make sure you choose the best one for you. For example, check overdraft fees if you regularly check yours, the bank’s track record in dealing with scam victims, and how its online banking services compare to rivals. If you use a High Street branch, make sure the bank you are considering has one somewhere convenient for you and that it is not scheduled to close.
USE REFUND WEBSITES WHEN SHOPPING ONLINE: £300
Cashback Websites Will Show You How Much You Can Earn If You Click Their Links First
Using cashback websites requires minimal effort and users earn an average of £300 a year, according to cashback website TopCashback.
Instead of going directly to the website of the retailer where you plan to purchase, go to a cash back website first. These include TopCashback (topcashback.co.uk)Quidco (quidco.com) and Swagbucks (swagbucks.com).
Then click from there to access the retailer’s website and continue shopping as normal.
The cash back website will record your visit to the retailer’s website and add cash to your account.
For example, if you buy a Christmas gift from Asos through TopCashback, you’ll get 6.6 percent cashback as a new customer. Existing customers get 1.11 percent. You can get a refund on up to 7 pieces from Selfridges, 5 pieces from Clarks and up to 12 pieces from Iceland.
These websites work because they receive commissions from retailers when they direct shoppers to their websites. They then pay buyers a portion of the commission they receive.
Adam Bullock, director of TopCashback, recommends downloading the browser extension. Once downloaded, you should receive an alert every time you purchase from a retail website where you can get a refund. It will show you how much money you could get and you can decide whether to move forward. That saves you from having to remember to visit a cashback website. Go to www.topcashback.co.uk/browser-extension.
FIND A CHEAPER BROADBAND AND TV PROVIDER: £160
TV and broadband packages can vary greatly. Make sure you get the best value
Switching broadband and TV providers saves an average of £160 a year, according to consumer website Which?.
If you’re out of contract and therefore no longer tied to a particular provider, there’s a good chance you can save money by switching.
Scan comparison websites like Uswitch or Go Compare to find the best deals. Don’t just go for the cheapest – make sure you find a deal with the broadband speed and TV services you need. Also check online reviews.
If you prefer to stay with your current supplier, call them and haggle to get a better deal. Explaining that you plan to leave is usually a good negotiation technique.
Check out some comparison websites first to get an idea of the deals currently available. That way, you can tell your supplier that you’ve seen a competitive offer and ask them to beat or match the price.
Households switching from Sky saved £235 a year on average, those switching from Virgin Media Broadband saved £165 a year and those from BT £148 a year.
Even if you don’t have a TV package and simply switch broadband providers, you could save £105 a year.
CHANGE YOUR MOBILE OFFER: £67
You could save £67 a year on average by switching mobile providers, according to Which?. However, this increases to £146 for those leaving Vodafone for another provider.
If your current contract has expired or is about to expire, search MoneySuperMarket or Compare the Market for a better deal.
If you want to keep your current mobile number, you will need a Transfer Authorization Code (PAC).
Call your network’s customer service line to obtain this; They must provide it to you within two hours of the request. You can also text PAC to 65075. You must use the code within 30 days, after which you will need a new one.
Then contact the provider you want to switch to and provide them with the code. They will organize the change.
If you’re still in the contract, write down the expiration date in your journal so you can shop around for a better deal right away. If you plan to keep your current phone, you may be able to switch to a Sim-only deal to save money.
Bargain if you don’t want to change suppliers: you could save an average of £61 a year. Which? says.
GET CASH FROM YOUR ENERGY SUPPLIER: £220
Households had up to £220 on their energy bill in October, according to the latest figures from comparison website Uswitch.
It’s helpful to have two months of energy credit on your account to cover the cost of higher bills during the winter months.
But if you have an excess amount in your account, ask your provider to refund it to you. You will need to submit an updated meter reading first, unless you have a smart meter.
Any money refunded could go toward your Christmas expenses, or could earn you some extra cash if you put it into a high-interest savings account.
RECOMMEND A FRIEND TO YOUR ENERGY SERVICE: up to £75
If you’re happy with your energy supplier and have a friend who wants to switch service, refer them and you could earn up to £150.
British Gas has the most lucrative deal of the big suppliers. It offers a £75 Amazon gift card for both you and your friend when they switch both gas and electricity. It costs £35 each if they change just one.
EDF Energy is still offering a Black Friday deal where you can get £75 for every successful referral you make, and E.on Next is offering a £50 credit for both you and your friend when they sign up using their unique referral link .
You and your friend could get £50 each if you refer them to Octopus Energy and they sign up.
For Scottish Power, you and your friend will get a credit of £60 each if you switch from gas and electricity, and £30 each if you switch from just one fuel.
You will find the referral link in your online energy account.
The new provider will arrange the switch for your friend. It may take up to five business days, but longer than that your friend may be entitled to some compensation.
Only switch to a rate that saves you money compared to your current rate. Otherwise, you could end up paying more in energy bills than you earn from the referral deal.
SELL UNWANTED CLOTHES AND SHOES: £125
Don’t leave old shoes and clothes piled up at the back of the closet, you can sell them on sites like Vinted
Most of us have old clothes and shoes lying around the house, but these unwanted items could help pay for Christmas dinner.
Households could earn £67 selling old clothes and another £58 selling old shoes, according to the VoucherCodes website.
You could sell your items on second-hand sales platforms like Vinted (vinted.co.uk) or depop (depop.com). Wash, steam, and remove pills from clothing before advertising.
To use these platforms, you will need to set up an account with a username and password, and then upload photos and descriptions of the items you want to sell.
Take good photos, as this is the first thing buyers see when they scroll through. Write a good detailed description, including the brand of the item and the condition it is in.
TOTAL BANKED: £1,147
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