Set Up For A Frugal Winter

Posted on by Forest in General, Guest Posts, Opinion, Saving Money & Finances

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Christmas and winter in general can be a very strenuous and stressful time, and it can also have quite a big negative impact on your wallet. Living frugally is all about being sensible and comfortable with your spending and one of key tips is to ensure you do this is to make sure you plan ahead.

When thinking about the winter months, the world does tend to overspend, and the number one reason for this is of course Christmas. If you celebrate Christmas then you really have to prepare for the whole package, decorations, food and of course presents.

Christmas

Christmas = spending money, and there’s no denying this fact! But it’s how you go about spending the money that will decide how frugal you have been. When looking at buying Christmas presents and  saving money, it’s often people that buy well in advance that save the most money. You should be on the look out early, setting your eyes on the various sales that come up in the months before Christmas. On the other hand, if you have your eyes on a specific present for someone, then using a price comparison site is the way to go. They can help you find the best deal for a specific product, a great way of saving money.

Decorations are a big reason why people spend so much money over the festive period, the main reason for this, which I have never understood, is that people buy new decorations every year. I always use the same decorations from the previous year; I just ensure they are packed away safely and securely so that I know they won’t be damaged. I also don’t see the point in going ‘over the top’ with decorations, like the houses we see that are covered head to toe in Christmas lights, I can’t imagine how high their electric bill is for the Christmas period! Being sensible with regards to decorations is important if you want to save money.

Food is another big spending factor at Christmas, especially if you’ve invited guests to come round! If you have invited guests and you’re looking to save as much money as possible, then ask each guest that arrives to bring an item of food, or their own alcohol, this can save you a lot of money and hard work. A final tip here, is if you are short a few plates or you are in need of a few items to accommodate guests, then why not ask a friend, neighbour or family member to lend you some for the event, don’t just buy extra items that will only get used once.

My final and probably most important tip when it comes to Christmas is, set yourself a budget! People who tend to suffer the most at Christmas time are the people who unnecessarily overspend or people who buy most of their presents on credit cards, to be paid at a later date or they use  unsecured loans; this just builds a level of debt that you don’t want or need. Just set yourself a budget for each person and each event you have planned and stick to it, end of the day it’s the thought that counts, and spending more than you can afford can leave you in debt for a long time.

The weather

Another big killer during the winter months that I thought was worth a mention is the weather. With most parts around the world, winter means snow and ice, which means your heating bill will be through the roof. In the months approaching winter, I would suggest that you compare your bills and service providers either using price comparison sites, or through your own research and find cheaper alternatives. People will be surprised how much they could actually save by using these sorts of websites to compare their bill prices. Many utility providers also offer special promotions in the run up to the cold winter months, so keep your eye out for some good prices.

This article was written by Andreas Nicolaides, Andreas is a money saving and finance writer for MoneySupermarket.com.

Tags: frugal, money saving, Personal Finance