12 Days of Penguin Christmas

12 Days of Penguin Christmas

Christmas, while the most wonderful time of the year, is also one of the most expensive times of the year. This should be the time to relax and enjoy moments with family and friends, now more than ever. So, as a gift from Penguin to you, we want to relieve your financial worries by presenting you with 12 tips for saving and sorting out your finances.


Our Top 12 Christmas Financial Tips


1. Make the maximum Pension contributions and don’t opt-out of auto-enrolment

You might be surprised by how much more your company could match you, so don’t leave any extra money on the table.


2. Create an expenditure form

See how much you’re spending over 12 months and set yourself obtainable spending goals to save yourself even more money


3. Skim off the top of your wages

When you receive your wages, if it’s an odd number, then transfer the odd amount into your savings.

E.g. If you get paid £875.90 a month, transfer that £5.90 into your savings.


4. Open up a “Save the Change” account that various banks are currently offering

Round up your pennies to the nearest £1! If you pay £3.35 for something, it’ll transfer the extra 65p straight to your savings account.


5. Use a bank loan or a 0% interest credit card to buy a car, instead of getting it on finance

The loan will likely be much lower APR%.


6. Use cashback sites when you shop online

You’ll get money back on your purchases.


7. If you insure your house, your gadgets, your car, your holidays, why don’t you insure the one thing that pays for them all?

Get income protection so you can be sure that, if anything happens to you, your income is protected and you can still afford to live if you cannot work.


8. Don’t be an auto-renewer!

Most companies will rely on you auto-renewing your insurance or utility policies, yet by spending a bit of extra time looking into new providers when your policy is up, you’ll likely find a better deal elsewhere.


9. Turn household items into cash

Have some items you no longer need? Sell them to free up some extra cash around Christmas and get rid of the clutter.


10. Pay yourself first

On payday, make sure that, before you do anything else, you continue to build up your savings account. It’s important you have an emergency fund, should the worst happen.


11. Build up loyalty points with supermarkets and brands

Once you’ve built up a collection of loyalty points, you can spend them to get money off. Remember to look for bonus offers that will make your points go further.


12. Complete a tax return even if you’re not self-employed

Did you know you can claim for things like travel and uniform?


And that’s a (gift) wrap! We hope you found these Christmas tips useful. For more personalised financial advice on savings and managing your assets on the lead up to Christmas, contact Penguin Wealth where one of our Financial Advisors will help you plan your finances for your future. Book before the end of 2020 and receive 10% off your financial plan.



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