Money Saving Ideas for Christmas

These money saving ideas for Christmas may help to lighten the load at this time of the year. Think forward to Christmas 2013 and onwards.

Despite the collapse of Farepak Christmas (2006) this type of club is still top choice with hundreds of thousands of people in the UK.

Around 120,000 people lost some £40 million when the club collapsed and went into administration in October 2006.

The firm's liquidators said today (10th July, 2012) that in addition to the Government payout of 18p. per share they would be making an additional payment of 32p. per share - making 50p. per share in total. This is quite an achievement but it is a great pity it has taken so long. Better late than never!

This has been such a shame and disappointment for all those people who had good money saving ideas for Christmas.

The most sensible option now is to open an account at one of the building societies and save your money there. The problem is that you must be disciplined and not dip your fingers into the account until Christmas. This may prove too great a temptation!

This is probably why Christmas Savings Accounts are so popular – the money is locked in until November and stays there in readiness for spending at the festive season - just when you need it.

Stepping in to fill the need for a reputable savings club the Post Office, one of Britain's most trusted brands. They have floated money savings ideas for Christmas where it is possible to save in a safe way.

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From January, 2008 savers have be able to make deposits of £5 to £500 at any branch, and will be able to bank a maximum of £1,000 a year.

Scheme members will not be able to withdraw money until November of the current year. Then they can use their Christmas Club card as a debit card at selected shops, or exchange money for gift vouchers. So far, the Post Office has negotiated deals with some 200 chains, including Sainsbury's, Argos, Boots, Debenhams, House of Fraser, Thorntons, Woolworths and W.H. Smith. Please check their site for updates to this list.

If you are one of the people who need to have your money locked away when you save money for Christmas, do enquire at your local Post office for full details. This means if you can only afford to bank a small amount of money, you can lock it away in one of these Post Office Special Christmas accounts. No disappointments with vanished money – just when you need - it will be there. Brilliant money saving ideas for Christmas.

Happy Christmas next year!

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