It seems like an age until Christmas doesn’t it? I’ve only just got my winter jumpers out from under the bed, and it seems like just a few weeks ago that I got back from my summer holiday. Not wanting to scare anyone, but I just checked – and there are fewer than 80 days until Christmas. Really.

Don’t panic though:  there’s still time to scrape together some savings and enjoy the festive season without breaking the bank.

Being prepared for Christmas has more than just financial advantages of course, you can be the smug one as hoards of stressed people rush around the shops at the last moment, desperately scrabbling for last-minute gifts.

Make a plan

Decide how much you’re going to spend on Christmas as a whole now and stick to it. Include all the extras – the tree, the food shopping, the crackers – not just the gifts. Have a think about what you can afford and be sensible, the last thing you want to do is start 2012 in debt. Using a credit card to start buying gifts now is fine – and a good way to budget – but if it doesn’t have a 0% interest deal make sure you can pay off the balance each month.

Open a Christmas savings account

Now you know your target – you need to get saving. An easy access account will allow you to pay in and withdraw money whenever you like so it’s the best bet in this case. Try to pay in a set amount every two weeks – even if it’s only £50 – you’ll have £200 by the end of November. And now – how do you find that £50?

Collect your coins

OK, it’s not going to make you a millionaire but every little helps. At the end of every week empty your purse and put the coins in a piggy bank. Anything that’s a pound or less should go in the savings pot. You’ll be surprised how quickly it stacks up – you should have at least enough for cards and a few stocking fillers.

Swap your spending

If you usually buy your lunch at work each day, make a pact to yourself that you’ll take your own for the rest of the year. We spend about £5 each week day on lunch and coffee – imagine if you put that £5 in your Christmas savings account each day. Start now and by the end of November you’ll have over £150 put away.

Cut your Christmas costs

If you have loads of cousins, aunties and uncles and great-grandparents why not contact them and agree a maximum spend – maybe something really small like £5 per person. Or better still agree some kind of family secret Santa so that each person only has to buy one gift.

Making your own Christmas cards, and even crackers and Christmas decorations is a great way to save and add the personal touch to your celebrations. If you want to do this though – start now. Get the kids involved too – they’ll love the excuse to get excited about Christmas already.

Start shopping now

Buying gifts and even food that will keep until the festive season now is a great idea – it gives you plenty of time to make sure you get the right thing for everyone, and allows you to spread the cost over a few months. What I usually do is start saving my supermarket reward points from the beginning of October and then when the time comes to do the final Christmas food shop you can put the points toward the cost.

{Photo: Allie Caulfield}