Saving Money at Christmas: A blog by Modhurima Islam, Student Money Assistant
Saving Money at Christmas: A blog by Modhurima Islam, Student Money Assistant
Christmas can be a financially stressful time, especially for university students on tight budgets. However, you can lessen the financial burden by planning ahead and following the tips below. Read along to find out how you can protect your bank account this holiday season.
1. Gift Mindfully
Don’t feel pressured to spend a fortune on gifts for everyone. Make a list of important people in your life who you want to spend more on. For others, you can go for less expensive/handmade gifts. Handmade gifts, like crafts, baked goods, cards, etc.It can also feel more personal and meaningful.
2. Use Student Discounts
Use student discount apps and look for retailers with good discounts to save on gifts. Student Beans and Unidays are two popular apps that offer student discounts on major brands.
3. Shop on Black Friday/Cyber Monday
If you want to maximize savings, do your holiday shopping on Black Friday and Cyber Monday. Most retailers will offer significant discounts during these sales, which is ideal for a student. To make shopping these sales easier, make a list of gifts you want to buy ahead of time, so you don’t get tempted to buy unnecessary things just because they are on sale.
4. Secret Santa with Friends and Family
Secret Santa exchange is a great way to engage in gift-giving without running down your savings. This way, each person only has to buy one gift, instead of buying individual gifts for everyone, which significantly cuts down the expenses while still spreading holiday cheer. This is especially fun to do with your house/flatmates as a festive activity that everyone can participate in. You can even agree on a budget beforehand, so no one feels financial strain!
5. Attend Free or Low-Cost Holiday Events
If you want to get into the holiday spirit on a budget, consider attending free/low-cost events. For example, attend the annual University of Warwick tree lighting with friends and roam around the Christmas market that takes over the Piazza! If you are looking for a more festive vibe, head over to the Birmingham Christmas Markets which is a cheap and quick train ride away from campus and is a mesmerizing sight at night. Bonus tip, get an off-peak day return ticket from Coventry to Birmingham which costs less than or the same as buying 2 separate tickets and gives you more flexibility!
6. Plan Affordable Travel
If you are travelling home or elsewhere for the holidays, booking tickets as early as possible is a good idea. Check out rail and bus alternatives over flying to save on fares. Make use of student discounts and deals if available. For example, Emirates offers 10% student discount year-round!
7. Earn Extra Cash
If you know the holiday season might be tough for you financially, you can also take on part-time/full-time work. Many places hire seasonal workers for Christmas so keep an eye out for those vacancies. You can even go in person with your CV to ask if they will be hiring Christmas staff.
Keep an eye on our Student Cookbook as we will be posting recipes for affordable Christmas dinners in Week 10 with a meat and vegetarian option!
With these tips, you can enjoy a festive holiday season on any budget.
For further money-related support, contact Student Funding Support by email (studentfunding@warwick.ac.uk), phone (024 7615 0096), or come to the Wellbeing Reception in Senate House (10 am-3 pm Monday-Friday). Check out our Money Matters web pages for lots of money-related resources.