How to save £500 for Christmas!

I can hear the groans from here! CHRISTMAS! I know, it’s only just happened.. but it’s 8 months away and just 31 weeks if you usually shop in the first week of December.

I stupidly once bought a car in the winter, so that means our car’s MOT and tax is always due at the time when I am bound to have the least money.. if you add to that the fact our youngest’s birthday is on Christmas Eve (!) …let’s just say, budgeting is a must!

So I thought I’d share my budget guide as I’ll be saving for £500 but have allowed for other options too, so you can see how do-able it is for you and your family.

I’ll be transferring a standing order to go into an ISA but there are loads of options of course, so however you do it, it’s down to you. I know there are some savings plans out there with companies but personally I’d prefer to keep my hard-earned money right where I can see it, and where I can earn the interest rather than someone else (though granted, it won’t be much)! You can see lots of up-to-date saving options on The Money Saving Expert website here.

So here’s the options I have, which are based on beginning saving on 1st May until 1st December or saving a weekly amount for 31 weeks which takes you to Monday 3rd December, allowing time to purchase presents.

I’m not attempting to re-invent the wheel here.. I know it’s simple but if I’m beginning to think about it, some of you might be too.

N x