Even if you leave it too late to start saving for Christmas this year, you could save a lot of hassle and stress preparing for next year's festive season.
Saving
You could start saving in an ordinary high interest savings account, a mini cash ISA, a special Christmas savings account or join a Christmas club.
Following the collapse of Christmas hamper firm Farepak in December 2006 when 150,000 families lost £40 million in savings, savers in Christmas clubs now have been given more security but only if the organisation is a member of the Christmas Prepayment Association.
Which is the best savings account for you? Let us guide you to the right choice with our comparison service.
Save with an Christmas Saver
Special savings accounts can be attractive. With Skipton Building Society's Christmas saver you can save between £10 and £150 a month and currently you'd get 7.55% gross AER (variable) but you can't make any withdrawals until 25 November. At midnight on 24 November all the money is capitalised and it's automatically transferred to the society's instant access savings account and interest starts from 2.04%.
Buy gifts in the sales
You can also save money by buying gifts throughout the year in the sales. If you did this and saved as well, by this time next year, you could have a store of presents already paid for and cash in the bank for festive food and entertainment.
