Blue Christmas? 54% worry they can’t afford festivities this year

TopCashback is releasing hundreds of origami hummingbirds which will carry cash and fly over the streets of Birmingham, Manchester & London, giving away £7,500 worth of savings for UK consumers to add to their Christmas budget.

A recent TopCashback study surveying over 2,000 people has found that over half of adults in the UK (54%) are worried they might not be able to afford Christmas this year.

This might not come as a surprise, as 2023 has been an incredibly tough year for so many of us, although that doesn’t take away from the harsh reality faced by many Brits today.

Christmas should be a joyous time filled with family, friends and fun, but the cost of living is having a big impact on how much we’re able to celebrate.

However, there are things you can do to help alleviate the pressure. Keep reading to find out the main takeaways from TopCashback’s recent study, as well as tips for maximising your money when you shop this Christmas.

We also have information about our exciting hummingbird drop giveaway, where you could win £10 cash and an additional £15 bonus when shopping through TopCashback, plus bonus advice from Anna Richardson.

The cost of living at Christmas

Whether it’s spending less on gifts, limiting travel to see friends and family, or swapping turkey for roast chicken, lots of us are having to find ways to cut back this Christmas.

Nearly half of adults in the UK are planning to reduce their overall Christmas budget this year, with an average spend of £280 less than last year.

Of the people asked, 26% said they had less than £300 in total to cover all of their Christmas spending (including everything from presents and food, to Christmas trees, decorations and travel).

The cost of living is also having an emotional toll on people up and down the country, especially those with children looking forward to lots of gifts and treats. Of the people we surveyed:

53% said they wished they’d started saving for this Christmas sooner than they did.

41% said they felt like a failure because they didn’t have the funds to celebrate how they would like to.

34% thought their Christmas wouldn’t be as fun or as happy as it could have been, due to money difficulties.

52% said they felt guilty about letting their kids down this Christmas.

5% were planning to tell their children that Father Christmas is unwell this year (as a way of managing their expectations of presents).

Keeping the costs down this Christmas

As well as the obvious spending on presents, decorations and food during the run-up to Christmas, we often have no choice but to spend more money on energy during the colder months.

TopCashback’s survey found that many of us are turning to energy-saving measures in order to save money this coming December. 19% of those we surveyed said they’re planning to use an air fryer to cook Christmas dinner, and 15% won’t be hanging any Christmas lights.

If you’re able to find an additional method of income, this could also help reduce some of the strain. 75% of the people we asked said they would consider alternative ways to make some extra money to pay for Christmas this year. Of those, 49% said they were thinking of selling their clothes or other possessions, while 45% were planning to take up another job or side hustle.

And if you’re in the position to start planning ahead for Christmas 2024, you can help avoid some of next year’s money worries. A fifth (19%) of the people we surveyed said they’re already saving for Christmas 2024, so you can never be too early.

Boost your Christmas spending pot

This week, TopCashback are sharing £7,500 worth of savings with people across the UK.

We’ll be releasing hundreds of origami hummingbirds in London, Birmingham and Manchester. These origami birds will be placed in popular places around the three chosen cities, so they shouldn’t be hard to spot if you’re in the area!

Each one will contain a £10 note, which will be all yours to add to your festive shopping budget.

So, if you want to level up your Christmas spending pot, keep an eye out for one of our hummingbirds if you’re in any of these cities this week.

And for bonus savings, anyone who finds a TopCashback hummingbird will also receive an additional £15 when they shop with any of our 6,000+ TopCashback brands. That’s an impressive £25 worth of savings you could win for free, just by finding one of our hummingbirds.

And even if you don’t find a hummingbird, you still have a chance to win. We've also launched an online giveaway that everyone can take part in, regardless of location. This week, 300 members will be selected at random to receive £10 in their TopCashback account, you can enter here.*

If you're not already a TopCashback member, you can sign up to TopCashback and save money on your Christmas shopping (our average member saves £300 in cashback a year!).

*Competition ends 23/10/23 at 9am. T&Cs apply.

Christmas budgeting advice from Anna Richardson

Broadcaster and consumer champion Anna Richardson, who is working with TopCashback this Christmas said, “Budgeting for Christmas is tough, even without living through a cost of living crisis, that sometimes feels like it will never end. But there are some really savvy switches and saving techniques I use that can help to save a small fortune. It’s all about working smarter, not harder. 

“Half of the country is worried about covering Christmas costs this year, so to help alleviate some of those concerns, here are my top tips.”

1. Make use of sales

Black Friday, Cyber Monday and pre-Christmas flash sales provide a great chance to buy Christmas essentials at a reduced rate.

You can even plan ahead and use this year’s Boxing Day sales to help you out next year, buying the excess festive stock that would otherwise go to waste, and will be put out on shelves for a cheaper price.

Whether it’s baubles for the tree, or Christmas crackers for the table, buy them at a lower price and keep them stored for next year.

2. A DIY Christmas

Decorations don’t have to be bought.

Whether a wreath for the door, ornaments for the tree, or even a Christmas card, why not try to make these yourself this year? This even doubles up as a fun activity with the kids. For inspiration, look at craft influencers on Instagram or TikTok, such as Stacey Solomon.  

You can even get crafty with your presents this year. Focus on the love in the present, rather than its expense, as this is what your loved one would appreciate from you.

If you don’t fancy making something yourself, think of a legacy or sentimental present that doesn’t have to cost much. As you’ve researched it and put huge thought behind it, that’s what will make it memorable. 

3. Make use of discount codes and cashback

When buying your Christmas groceries, presents, and even travel costs to visit family, make sure you look out for discount codes to save on those extra pounds.

You can also get cashback when purchasing online - it’s a no brainer!

For example, when purchasing your festive snacks from M&S, a new gadget for your son from Curry’s, or a present for your sister from & Other Stories, buy from those retailers through TopCashback.

They partner with over 6,000 everyday brands, so when shopping you can earn money on each transaction. This really adds up - you can earn over £300 each year through this simple hack.

4. Host your own market

Instead of hoarding things you don’t need anymore that are just laying around the house, whether that’s furniture, clothes, or old knick knacks, consider selling them to make some extra cash.

Get on Vinted or make use of Facebook Marketplace. Or check to see if your local community is doing any pop up markets, such as a farmer or antiques market, and book in a stall - these can be quite cheap, around £25. Or if they’re not, arrange your own!

Head to your local pub with your friends, and set up shop with your second hand items for sale. This can give you some extra cash ahead of the Christmas shopping season.

5. Cut down the electrics

To save on your electricity bills this festive season, you can make some easy swap outs.

For example, use an airfyer to roast your veggies and potatoes quickly, instead of relying on the oven.

And do you need to add lights to your house or even your Christmas tree? Dress your tree in baubles, tinsels, or as above, your own ornaments. This will save the electricity running all evening.

6. Concentrating on what matters most 

More important than buying the best presents for your family and dressing up your house with the finest decor and the biggest tree, is the experience of Christmas.

Try not to feel guilt or worry about not having enough money to make Christmas fun this year by remembering the original purpose and message of Christmas - togetherness, hope and love. 

Help is on hand if you need it

If you’re facing money struggles and need some extra support or advice, there are people who can help. Citizens Advice, National Debtline and StepChange can all offer free help and practical advice, to help you take back control.

Have you read TopCashback’s September 2023 How Britain Spends report? We asked thousands of people in the UK about their finances, spending habits and how they feel about the Cost of Living crisis, to get a clear snapshot of how Brits are spending their money today.

This first report also included a spotlight on family finances, with insights into how parents have been managing their finances this year, as well as their thoughts on talking to their kids about money.

Our summary of this report also contains tips and tricks from finance experts, The Money Charity, and even TopCashback staff members, so it’s worth having a read if you’re looking for money-saving advice.