Martin Lewis has given his top tips for Christmas this year, with the money-saving expert urging shoppers to listen to his advice before buying any presents.
The founder of Money Saving Expert and TV presenter has also issued his annual warning to families to ban unnecessary Christmas presents.
Families have been given some valuable advice from the financial expert in the past including how to scour the web for the cheapest deals, and how to get the price of your Christmas dinner down.
It is without a doubt a time of year that tugs on the purse strings of most families, with everything from stocking fillers to roasts and presents for all the grandchildren, sometimes costing a fortune.
Over the last 12 months, shoppers have also been trying to find how they can adapt to the cost-of-living crisis and get through the festive period on a budget.
Martin Lewis has told shoppers exactly what every household should do with his top 48 tips on his site, along with a host of advice on Twitter and his TV show – and Metro.co.uk has been through them to pick the best ones for our readers.
The first thing shoppers have been told to do before they even consider going out to start the hunt for presents is to work out what they can afford.
Martin said: ‘Before you start planning, consider this: many list every lusted-for item, gifts for all, and a corking meal, then only afterwards consider: “How will I pay for it?” That’s a recipe for ending up broke.
‘Instead, calculate your budget and ask: “What can I afford to spend?”
He said that before going all out on a gold-plated star for the top of the tree or buying a Turkey big enough for 20 people when you are only feeding yourself, think whether or not you can afford it.
It might seem slightly Scrooge like but Martin’s advice is: ‘Christmas is one day – don’t ruin the whole of the next year for it.’
As is often the way if you look hard enough you will be able to find the gift you are trying to buy secondhand or being sold online for much cheaper.
This year Martin has said the best bargains could be had from eBay sellers with items that must be collected in person.
He said Money Saving expert has built a mapping tool to make it easier to search for ‘collection only’ items, so you don’t have to wade through items that also offer postage.
He added: ‘For more help detecting hidden bargains, our eBay Buying Secrets guide lists tools which find underpriced goods, exploit spelling mistakes, and auto-bid to seal deals.’
Christmas is often a time for exchanging gifts, sharing food and spending time with family. But there are many who are less fortunate and less able to celebrate, from those sleeping rough to elderly people living alone.
If you want to do some good this year, by donating your time or money, there is a long list of ways you can help out those in need.
Want to give, but don’t want to waste cash on tat? Martin Lewis has given a full list of wonderful and weird charity gifts that include how much goes to good causes.
Be it a goat to help a family, lifesaving jabs for children, or a water pump for a village, the guide is packed with ideas, and gifts start from just a few pounds.
Chances are your best childhood Christmas memories aren’t about beautifully coordinated baubles, finest-range turkeys or even getting that year’s must-have toy.
For many, it’s the build-up that’s the most fun – experiences that involve spending more time with parents or family.
So Money Supermarket has come up with 20 free (or very cheap) traditions to create memories, from driving round after dark to admire twinkly streets to leaving something heavy on the sofa to make a dent ‘where Santa plonked his big bottom.’
With an ‘It’s Christmas! We need the best!’ battle cry, everyone raids the supermarket shelves. Yet don’t assume you’ll prefer higher-brand goods.
To test this, on Martin’s TV show he held a blind taste-test soiree for nurses at a hospital with champers, turkeys, and more.
They preferred the lower-brand goods (or couldn’t tell the difference) 62% of the time.
Martin has called on families to not be a ‘retail snob’ and to ‘taste with your tongue, not by looking at the packaging.’
He added: ‘Buy what’s right for you, not the shop.’
Each year a few stores start their main sales early. To get it in time for Christmas, delivery may cost a bit more, but it works.
Every year Deals Hunters gaze into their crystal balls and predict deals to come this year.
And failing that you don’t get anything in the Boxing Day sales ahead of Christmas there are always bargains to be had in shops, and some presents will remain timeless and can be given as gifts next year.
Martin has warned shoppers one of the best ways to make sure they don’t overspend and end up in debt this Christmas is to make a list.
It might sound basic and something that everyone should do but it is a good reminder that Christmas shopping on impulse is dangerous.
Martin said: ‘Make an old-fashioned shopping list and stick to it. Remember, shops spend a fortune on targeting your spending impulses – a list helps you beat them.
‘Even if you’re shopping on the high street, remember to benchmark the prices using shopbots first.’
Another basic piece of advice that could be very helpful is ‘if you haven’t used or worn it since last Christmas, then sell it’
The finance expert says that if a few quid more in the Christmas fund would really help, flogging via eBay is a good way to start along with a number of other sites.
He said: ‘Selling on Vinted is a brilliant way to make extra cash by flogging your own wardrobe – especially as there are NO fees for sellers.
‘For collection-only items, Facebook Selling is another great option.’
Martin added: ‘If you prefer speed and ease rather than max price, several sites let you enter details, they offer a price, and you post goods, for example books, for free.’
One of Martin’s top tips this year has been to buy all of your big gifts using a credit card as you are given greater protection than without one.
He said: ‘Sadly, firms go bust. If that happens and ordered goods haven’t arrived, or have but are faulty, it’s a nightmare.’
The MSE explained thatSection 75 laws mean if you use a credit card (not debit card, cheque or cash) to pay even partly for something costing between £100 and £30,000, the card company’s jointly liable for the whole amount.
If the firm goes bust, you can get redress from the card firm instead – valuable extra protection.
He said: ‘Though only do this if you can clear the card in full each month to avoid interest.’
Section 75 doesn’t apply to purchases under £100, but there’s still an option that can help if you use a Visa, Mastercard, or Amex credit card, or any debit or charge card.
If the goods don’t appear or are faulty, you can ask your bank/card provider to reclaim the cash from the seller’s bank, so long as you start the chargeback process within 120 days of realising there’s a problem.
The average household spent £560 on Christmas presents and celebrations in 2022, according to research by Legal and General.
Yet many struggle to foot it from December’s pay packet alone and end up borrowing.
Martin said: ‘So next year, why not put money aside from January? Better than borrowing and paying back later with interest.
‘Work out your budget, then use our Top Savings Accounts guide to find the most profitable home for your cash.
‘If you can’t afford to save, cut your cloth accordingly.’
If you already shop for wrapping paper in the sales, why not try something different this year?
Some people go as far as saving wrapping paper up to use year after year until it can no longer be reused.
Other top tips for saving on splurging on fresh wrapping paper every year include
Do you know, some types of wrapping paper can’t be recycled? Learn more in her blog Wrapping presents sustainably – she even shows you how to wrap gifts in cloth using the Japanese art of furoshiki.
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