The 12 Saves of Christmas

Christmas may be different this year but you can still create a good festive atmosphere and magical Christmas. Our Newham Money can help with everything from budgeting for the big day, present buying suggestions and loans if you need to borrow money for the festive season. Don’t let Christmas put pressure on your bank balance, talk to us today for top tips on smart seasonal spending.


12 saves

Save money and prepare for Christmas the Our Newham Money way

The following top tips will help your money go further this Christmas.


1. Work out your Christmas budget and stick to it.

A budget is one of the best ways of managing the costs associated with Christmas. If you want help budgeting, speak to a Our Newham Money advisor they will be very happy to help.

2. Cut the cost of your supermarket shop

Christmas food shopping can spiral out of control. Make a shopping list and stick to it. Shop online where you can and keep an eye on how much your basket is. Visit and compare the cost of goods at the big online supermarkets. If you plan on hopping instore, use scan as you shop devices to keep track of your spending.

3. Secret Santa

Save money and buy one gift instead of many. Take part in Secret Santa with friends, family or colleagues. Set a budget and secretly draw names for who needs to buy for whom. This way you only need to buy one present for one person rather than for lots of people.

4. Compare prices

Got a gift in mind? Compare prices of the item you are looking for. Use Google shopping online or visit a few stores before deciding where to buy.

5. Earn cash back

Cash back is a great way to get some money back when you spend online. If you register with cash back organisations for example Top Cash Back, Quidco and Kidstart and purchase your items through their websites, they will give you cash back into your account. You can use the money earned through cash back for future purchases. This could help with Christmas next year.

6. Plan your food shopping

Plan ahead and purchase non-perishable food items earlier in late November and early December to spread Christmas food costs across several weeks.

7. Make your own decorations

A quick search online will reveal a host of creative ideas for homemade decorations. This will keep children entertained and give your home a festive feel.

8. Hunt for vouchers

Before you spend any money, see if there are any voucher codes you could use to knock down the cost of your purchase.

Check bargain websites such as or

9. Small swaps to save money throughout the year

Making small changes can save you money, for example buying supermarket own brands. Before spending stop and think ‘do I really need this?’ This can save you money during December and all through the year.

10. Fill Christmas stockings with sale items

Shops are keen to shift stock that’s been in store since before lockdown, so pick up reduced and discounted items that would make good presents.

11. Enjoy Christmas

The best Christmas gift is not expensive. It’s a good day with the people you care for that’s much more important than the best food and gifts.

12. Christmas Saver account

Talk to the Our Newham Money team about setting up a Christmas Saver account. Money in a Christmas Saver account is locked away until October 2021, so you have money set aside for spending over the festive season. If there was an emergency, you can access the money in your account before October. By putting money into the account regularly and saving for the end of the year, there is less of a financial strain over the Christmas period.


If you think you may need to borrow money over the festive season, avoid high cost payday lenders and come to Our Newham Money. For the festive season, we have a loan called the Our Newham Money Helper Loan. This is a short-term affordable loan to help you with your finances. With the Our Newham Money Helper Loan you can borrow up to £300 and pay it back over six months.

Below shows an example of the amount you will pay back with the Our Newham Money Helper Loan compared to typical high interest lender.

£300 Loan *Based on repayments over 6 months
Repayments £53.98 £12.65 377.91
Total Interest 23.88 28.84 1967.48
Total repayments and interest 323.88 328.84 2267.48

*26.8% APR representative. Newham Our Newham Money is a service provided by the London Borough of Newham. Newham Our Newham Money acts as a credit broker and not as a lender. All loans are subject to status and are provided by London Community Credit Union Limited, which is authorised and regulated by the Financial Conduct Authority. Services provided by Our Newham Money are not regulated by the Financial Conduct Authority.