How to Save Money during Christmas: 8 Practical Tips
Christmas is perhaps the jolliest time of the year, eagerly awaited by both young and old. It is a season full of happiness, gifts and celebrations, but also quite a few expenses. From festive meals and family gatherings to presents, the holidays can easily stretch your budget to its limits.
However, with proper planning, you can enjoy Christmas without stress and, above all, without overspending. Below you will find simple and practical tips to save money this Christmas (and in the years to come), as well as how Ancoria Bank can help you manage your finances.
1. Organize your Christmas budget
A clear plan is the first step to avoid overspending. Setting a realistic holiday budget will help you with this. Before you start shopping, make a list of the gifts you need to buy, as well as potential expenses for parties, meals and gatherings you might attend.
Specifically, calculate:
- How much you can generally spend based on your income
- What you need for gifts, food, entertainment
- Which expenses you can avoid or reduce
Don’t forget to set aside a separate amount for “unexpected” expenses that may arise. Usually, especially during the holiday season, something unforeseen can happen that creates additional costs.
2. Start your shopping early
What previous years have taught us is that the closer you shop to the holidays, the more you spend.
Start early with:
- Gift list: Write down the people you would like to buy a gift for and estimate how much you would like to spend on each person.
- Price research: Find the best prices for the items on your list. Compare different local and online stores and make sure you identify any hidden costs, such as delivery or installation costs.
- Shopping during sales periods: Black Friday, Cyber Monday, or even the discount periods in physical stores are good opportunities to buy various gifts for the holidays. If you haven’t done this yet, plan for next year and you’ll see the difference.
3. Give “smart” gifts
Sometimes the best gifts are those that are thoughtful and represent your feelings for the recipient, they don’t necessarily have to be expensive to be special.
Here are ideas for a more budget-friendly, yet thoughtful gifts:
- Create something handmade, like Christmas ornaments, a card with a beautiful personal message, or even their favourite cookies.
- Give experience gifts, such as a ticket to a show, a visit to a museum, or even spending a day at the park.
- Team up with friends or family members and give a group gift that might be of higher value.
4. Set limits on gifts
If you have a large family or an extended circle of friends, the cost of gifts can easily skyrocket.
To avoid excess spending, you can:
- Suggest Secret Santa: This Christmas “game” has now become a tradition, especially in the workplace. However, it can easily be applied among friends and family as well. Essentially, a draw is done and you are randomly assigned a person to whom you will give a gift up to a certain agreed-upon value. Your identity as the secret Santa must remain hidden until the gift is opened. Each person buys and receives only one gift.
- Set a monetary limit on gifts: Agree with your friends or family beforehand to give gifts up to a certain amount, so that no one spends more money than they can afford.
- Focus on the experience: Especially when it comes to children, the quantity of gifts is not as important as activities that will become meaningful experiences for the future.
5. Christmas Gatherings with Love
One could say that Christmas gatherings are the biggest source of expenses. However, with a little preparation and proper organization, you can reduce costs without compromising on taste or the festive mood.
- Make a list of the ingredients you will need and buy only the essentials, avoiding impulse purchases.
- Make the experience of the Christmas gathering a collective one. Each guest can bring a dish that they have prepared themselves.
- Make use of any leftover food for the following days, or if there is too much, see if you can take it to a shelter or charity organisation that might need it.
6. Be careful with online shopping
Online shopping can be more convenient, especially during the holiday season. However, special caution is needed so you don’t fall victim to fraud.
Make sure to:
- Only make purchases from reputable websites and online stores.
- Always check the website’s security. Look for the “s” in https://, as well as the lock icon in the address bar.
- Avoid making purchases using public Wi-Fi.
7. Create a “Christmas savings” fund for next year
As much as it may sound excessive, start preparing for next year’s Christmas this year. Besides helping you stay better organized, it will also make saving a habit. This way, you won’t stress about next year and will enjoy the holidays without financial pressure.
What you can do:
- Open a Savings Account
- Set up automatic money transfers. Even a small amount can make a difference.
8. What matters is the spirit of the holidays
The spirit of Christmas is not about expensive gifts or the most impressive festive table. Christmas is the time of year when we come closer to the people we love, showing gratitude and spending time with our family. When we focus on the things which truly matter, the financial pressure eases and the holidays become even warmer and more genuine.
How can Ancoria Bank help you stay financially organized?
Ancoria Bank is by your side at every moment, in every step of your financial journey and even during the holidays when your needs increase.
myAncoria:
Through myAncoria, Ancoria Bank’s mobile and online banking, you can create your budget and receive alerts, if you are about to exceed it. Additionally, you have the ability to see your expenses in real time. This way, you can always know if you are staying within your budget.
Debit card with overdraft facility:
Ancoria Bank’s Visa debit cards give you the option to have an overdraft limit, making your purchases even more convenient.
Digital Loans:
Do you need a personal loan or an overdraft without going to the bank? Ancoria Bank offers you the ability to apply for a personal loan or an overdraft limit entirely digitally with Digital Loans. Choose myLo@n or myOverdr@ft depending on your needs and preferred repayment method, and submit your application through myAncoria, without visiting any of our Banking Centres, not even for signing the contracts in case of approval.
Savings Account:
To be fully prepared for next Christmas, open your own Savings Account at Ancoria Bank. With a Savings Account, you have immediate access to your money, whether you have short-term or long-term goals. Additionally, you can set up automatic transfers from your Current Account to your Savings Account and watch your funds grow.
Christmas, besides being beautiful, can also be economical. You just need a little organization and awareness to make the right choices. With the above practical tips and the support of Ancoria Bank, you will enjoy the festive season with love and financial balance.
Merry Christmas and a Happy 2026 from all of us at Ancoria Bank.
Tips to make your Holidays and New Year Merry and Bright
The holiday season is finally here and Christmas magic is in the air. From decorating your home to finding the perfect gifts, this time of the year can be full of joy. However, it can also be a bit stressful and hard on your wallet. Don’t let financial stress take away the sparkle of the season! Ancoria Bank takes the role of the trusted elf to help you manage your Christmas expenses, so you can focus on what’s really important: creating wonderful and meaningful moments with your loved ones that will stay with you forever.
Make your Christmas budget
Take the first step to a stress-free holiday season by creating a budget. Calculate what your expenses might be, such as presents, travelling, groceries, decorations, or some last minute unexpected expenses. Try to stick to your plan and avoid impulse buys.
Pro tip: With the myAncoria app you can easily create your budget, track your expenses and set limits for specific categories. Think of it like having a financial elf on your mobile phone making sure that this Christmas, you will stay on track.
Save for the festive season
Saving a little throughout the year can ease the load of Christmas expenses and financial stress. Consider having a separate account, where you will “store” your extra funds and set up automatic monthly transfers. You will soon reach your goal without even realizing it.
Pro tip: Ancoria Bank offers a Savings Account option that provides flexibility, making it the perfect financial partner for your holiday saving goals. Start saving now and you will be skating through next year with ease.
Shop safely and avoid scams
Even though Christmas is the time of giving, it’s also a peak point for online scammers and evil elves trying to steal away the Christmas joy. Shop only from trusted websites, consider double-checking the payment methods, as well as hidden costs and keep your banking details secure.
Pro tip: Use your Ancoria Bank debit card for secure online transactions. With enhanced security features and real-time notifications, you will able to shop comfortably this holiday season.
Dream big for the New Year
Thinking of making a big purchase for the New Year? Did you find your dream house or your ideal ride? Do you want to make home improvements or install photovoltaics in your home? Don’t let financial constrains worry you. Start looking for a loan that will fit your needs and expectations.
Pro tip: Ancoria Bank offers a wide range of loans; from Housing Loans to Eco and Personal Loans. Consider finding out more about Ancoria Bank’s loans and turn your dreams into reality for the New Year.
Make your finances simple with overdraft
For some reason, the unexpected always seems to happen during the holidays. An overdraft can give you the flexibility to handle anything that comes your way; from a last minute unexpected gift for the ‘favourite’ uncle you forgot or a bigger-than-planned grocery bill for hosting a larger-than-life New Year’s party.
Pro tip: Ancoria Bank offers an overdraft option on your Current Account. This allows you to access extra funds that you may not have in your account, up to a pre-approved limit, when your balance is insufficient.
Do you want to know more about overdraft? Read this blog.
Plan ahead with a New Year’s Resolution
The end of the year is a perfect time to reflect on the past and set meaningful goals for the future—including your financial habits. Take this holiday season to consider ways to save more and work towards achieving your dreams with greater ease for the new year.
Pro tip: Ancoria Bank’s Fixed Term Deposit Account might be the perfect choice for your long-term saving goals. Start your year with a financial plan that helps you grow your money, while you focus on what really matters.
It’s all about their future
While it’s never too late to capture the Christmas spirit, it’s never too early to start teaching the little ones about the value of money, while you plan for their future. Financial knowledge could be the best gift you give them this holiday season as you prepare them for their next stage in their life with knowledge that will shape their future.
Pro tip: Consider setting up a Children’s Savings Account to teach your children about the value of saving. Each year you can add more money to their account and monitor it together as it grows with them. Think of it as if instead of filling their stocking every year, you will fill their Savings Account. It’s a gift that keeps giving!
Tips for building/starting a Christmas fund
Set goals: Estimate your possible Christmas expenses that include decorations, food, travel, gifts and other costs.
Open an account specifically for Christmas expenses: A Savings Account might be the best option for this kind of goal. This will make it easier to track your expenses and make financial adjustments, before you reach the holiday season.
Create a budget: By creating a budget you will be able to manage your finances and have peace of mind.
Start your gift list early: Create a list of potential gifts for your family and friends early and try to take advantages of sales and deals throughout the year.
Christmas money saving tips
- Work out what you can afford.
- Say no to unnecessary presents.
- Take advantage of discounts and deals for your gifts.
- If you are going to travel, book your tickets well in advance.
- Send Christmas e-cards.
- Play Secret Santa with your family and friends. This way you will buy only one gift instead of many to please them all.
- Buy second hand items.
Extra tip: Start a new tradition of not giving and not receiving any presents.
This Christmas let Ancoria Bank be your financial partner. Whether you need a secure way to shop for your gifts, a loan to fund your dreams or a Savings Account to plan for the future, we have the perfect products and services to help you achieve your goals. Don’t let financial worries diminish your Christmas spirit! Let us assist in making this Christmas the best one yet.
From all of us at Ancoria Bank, wishes for a Merry Christmas and a wonderful New Year.
