NEW! Our Hero’s Journey tool can help you with your next step towards financial freedom - click here to try now.
Advertiser Disclosure

Eggnog and enigma

 
 

Hey Heroes!

Like much of 2020, Christmas this year is probably going to look a little different.

We’ve been weathering the covid storm for a long time now so financial (and emotional) reserves may be low.

But here at MyWalletHero we’re determined to enjoy the festive season, and a big part of that has been embracing the chance to do things differently.

Brisk wintery walks with friends, dialling down our gift spending, Zoom family dinners…

These are opportunities to keep fit and catch up, save money, and (don’t tell Mum) press mute when it all gets a bit too much!

  NEWS CATCH-UP
  • Currys PC World asked to honour cancelled Black Friday sales  Read more
  • ‘Price rises likely’ due to UK shipping problems Read more
  • Under-18s banned from buying lottery scratchcards  Read more

Sam’s Savings

Eggnog and Enigma

Today, I wanted to share some money-saving tips that my own family are putting into practice this holiday season, in the hope it can inspire others.
 
We’ve been mulling wine over how best to avoid paying two lots of postage when ordering presents online, to then send on to friends and family. Here’s what I came up with:
 
We’ve agreed with my parents that gifts bought online will be delivered to the recipient’s address – BUT, to mark them as presents, we’ll introduce a secret code when typing into the ‘name’ field on the shipping address.
 
Alan Turing would be so impressed with this code, such is its toughness to crack. 
 
Ready?
 
We’re going to include an ‘X’ as the middle initial.
 
Genius, right? 
 
(And not just because “Sam X” spells Xmas in reverse…)
 
Joking aside, we can then choose to ask someone else in the household to open and wrap the gift as normal, or we save money on wrapping paper completely this year and open the parcel in front of the sender on a Zoom call.
 
Elsewhere, we’re not exchanging presents between adults with my brother’s family this Christmas, instead only buying gifts for the children. 
 
(This’ll come as a great relief no doubt, since I’m notoriously awful at producing a list each year!)
 
Personally, I feel the greatest gift we can give is time spent with each other, either virtually or in-person where practical. As soon as we’re able to travel and see one another inside again, the best present will be to be in the presence of our loved ones.
 

More of Sam’s seasonal saving tips:

  • Agree on a budget in advance! Keep it sensible, too, so no-one’s spending silly money on things that others might not be so keen on.
  • As an alternative to buying something for everyone, you might want to suggest a ‘Secret Santa’ system, which is a great way of placing a price cap on your Christmas spending (and, hopefully, will avoid you receiving yet another pair of socks this year!)

Editor’s Choice

SEISS: can I apply for the next self-employed support grant?

SEISS: can I apply for the next self-employed support grant?

The next self-employed grant is now available, but with a notable change to the qualifying criteria. Here’s everything you need to know.

Should you use a balance transfer to pay off debt?

Should you use a balance transfer to pay off debt?

A balance transfer can be a useful way to manage existing debts. Whether you should apply for one depends on a number of factors. Read on to find out.

How to decide if you need life insurance

How to decide if you need life insurance

Not everyone needs life insurance. However, if you don’t have it and you are wondering whether you need it, then read on to find out.

   FINANCIAL TIP! 

Investing in companies that are well-placed to survive the ups and downs of the economy is a sensible strategy when aiming for solid long-term returns.

No company is 100% immune to economic downturns, but some are better placed than others to weather the storm and sometimes even thrive despite turbulent economic times.

These types of companies are ones that offer essential products and services, those people cannot do without even in the midst of an economic crisis – as 2020 has certainly proven:

Fast-moving consumer goods
Think household items that people still need on regular basis. Packaged food and beverages, toilet paper, toothpaste, laundry detergent, dish soap and so on.

Large retail chains
Those that sell these fast-moving consumer goods on to the final consumer, like large supermarket chains.

Healthcare
Pharmaceutical companies are among the big winners here. People will always need medicine.

Click through for more on investing, or to compare sharedealing accounts and stocks and shares ISAs

We asked, you answered…

Poll taken by @MyWalletHeroUK on Twitter from 12:13pm 02/12/20 over a period of 24 hours.

Gift-giving is one of life’s great joys, and a wonderful way to show someone you care.

But in a year that’s been financially tough for many of us, the thought of parting with so much cash on gifts can leave us feeling the opposite of merry…

But here’s the thing, you don’t need to spend a lot to give a lovely present. Whether we’re talking Christmas, birthdays or anniversaries, the old adage holds true – it’s the thought that counts.

In fact, lowering your budget can make for a more creative and thoughtful gifting process (as well as leaving you less stressed, and more able to enjoy the moment!)

Check out our great less-expensive gift ideas for some inspiration.

Content Disclaimer: We have taken reasonable steps to ensure that any information provided is accurate at the time of publishing. The content provided in this article has not taken into account the circumstances of any specific individual, and does not constitute personal advice or a personal recommendation for any individual; neither should it be relied upon by any individual when making any decisions. If you require any personal advice or personal recommendation, please speak to an appropriate qualified adviser.

 

Thanks for joining us today Heroes, we’ll have more money musings winging their way to your inbox soon!

Written by the MyWalletHero Team.