Retail sales took a dive last month, adding to fears that the UK could be following the Eurozone into recession. There are worries that businesses will face a bleak Christmas as the country is forced to tighten its purse strings. Despite these fears, whether we want to or not, we students know that winter, ‘tis a time to spend money. Be it heating the flat, getting started on the Christmas shopping, booking our New Years Eve getaway, or just cheering ourselves up with that little something, we face unavoidable, excessive spending over the next few months. To make sure you do not find yourself counting pennies this holiday season, I have devised a few savvy tips on how to beat the cold weather blues and still have enough money to spend come sales time in January.

Don’t buy Christmas presents: It may sound a tad Scrooge-like, but instead of buying your presents early why not wrap up little I.O.U notes for your friends and family which they can redeem in the January sales when everything is discounted. This means they avoid getting something they really dislike and you save money.

Make a list: If you must by presents then always keep in mind what you want to buy. We have all gone into a shop and come out with something we did not even know we wanted because it looked like such a good buy at the time. Do not be a sucker for deals that encourage you to get more than you need, know what you want and resist in-store temptation.

Group grocery shop: Buying in bulk is always cheaper than buying individually, so make like a fifties housewife and get creative with cooking for your whole flat. Bonding over burnt meals can make any winter evening more exciting and it is good practice for when you come together to try to cook your Christmas dinner.

New Year: Whether you’re planning to spend a traditional Hogmanay in Scotland or to celebrate New Year elsewhere in Europe make sure you get your transport and accommodation as cheaply as possible by booking it in early November. Leave it to the last minute and you will have to pay practically double rates. Skimp on the luxury accommodation and go for complete basic. At the end of the day you probably won’t be sleeping anyway so it won’t matter that you are sleeping in a budget backpacker hostel or making your bed on a friend’s floor. 

There you have it, some simple ways to cut your expenses this season. When you follow these steps be sure to put aside the cash you save, leaving you with more to play with in January, just before your best gift arrives: more student loan.