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Wrap up some savings in time for Christmas 2020

Use the Money Advice Service's calculator to create a Christmas money plan specific to you

Written by: Alex Walker Content Assistant, Asda Money 16 Nov 2020

As Christmas is right around the corner, lots of shoppers are starting to look ahead toward the end of year celebrations so they can send off 2020 with a bang. Now that December is just a matter of weeks away, there's still time to start saving for all the Christmas festivities, so you can be sure to make the most of the time with family and friends.

On average, UK families looked to spend around £800 on Christmas in 2019 to cover the costs of everything from presents for their nearest and dearest to Christmas dinner with all the trimmings. Making sure you have enough money saved for the Christmas period can be tough without the right sort of help, which is why we wanted to share the Money Advice Service's Christmas Money Planner and other online budgeting tools.

As we countdown to Christmas, this tool shows you just how many days are left between now and the big day. This means you can accurately plan how much you can save each day, week or month in the run up to Christmas, in addition to any money you’ve already put away. The Christmas Money Planner helps you calculate your costs for presents, food and drink, decorations, travelling, meals out, and more, giving you a rough figure for your savings goal.

Once you’ve popped all your info in, the planner will show you if you’re on track to reach your Christmas saving goal or need an extra helping hand in order to adjust your Christmas budgeting so you can meet your goal.

If it seems like you won’t quite make your Christmas budget goal as things are, the Money Advice Service also has a household budget planner which can give you a full breakdown of your household spending along with personalised saving tips. These can help you adjust your day-to-day budget and make your money go further, potentially allowing you to save up even more for Christmas.

The Money Advice Service has the know-how to make your ideal Christmas a reality through savvy budgeting and saving, so we thoroughly recommend making full use of their Christmas Money Planner to get the most out of your household budget and make your Christmas this year the best one ever. We’re also doing our part to help Asda customers make their budgets go further, like with the Asda Christmas Savings card - we're committed to helping you as the more you save, the bigger a bonus you'll earn for your festive spending.

The Money Advice Service is an independent service, set up by government to help people make the most of their money, they give free, unbiased money advice to everyone across the UK – online, over the phone and webchat.