As Christmas creeps nearer, Moneyfacts.co.uk has listed the top ways you can cut the cost of this year's festive season, from getting paid to switch bank accounts to taking out a credit card you won't have to pay any interest on till 2015!
Switching bank accounts has never been easier or faster thanks to the new Current Account Switch Service.
So now there's no excuse to stay with your current banking provider if you're fed up with their service or unhappy with the high fees and charges.
As an added Christmas savings boost, some providers pay you for switching to them!
First direct pays £125 if you switch to its 1st Account – without First Directory.
Halifax is offering £100 to customers opening its Reward Current Account – Funded. Halifax will also pay you £5 every month if you stay in credit and fund the account with at least £750.
If you do need to borrow money to fund Christmas then one of the most efficient ways to cut costs is to use a credit card charging no interest on purchases for a set amount of time.
The chart-topping product currently offering the longest 0% interest on purchases is Tesco Bank's Clubcard CC for Purchases MasterCard at a whopping 18 months. So you'll have a year and a half to pay off this festive season's spending!
As an added bonus, when using this card you'll earn Tesco Clubcard points – five points for every £4 spent in Tesco stores and fuel stations, or one point per £4 spent elsewhere.
Already in debt? You could consider a 0% balance transfer credit card. Barclaycard offers a stellar 0% interest on balance transfers for 28 months, meaning you'll have more than two years to pay back debt without paying any interest.
Regular savings accounts are a great way to save for Christmas 2014.
They help to kick-start the savings habit and encourage you to keep up the monthly contributions by charging high interest penalties if you miss a payment.
Top regular savings accounts paying chart-topping rates:
Saffron Building Society pays a market-leading rate of 4% as long as you make 12 monthly deposits of between £10 and £200. However, savers can only open and operate this account in a Saffron BS branch.
If you're looking for an online account,
Barclays Bank's Monthly Savings pays 3.25% if you deposit between £20 and £250 every month for 12 months.
Find the best current account for your 7 day switch
Compare regular savings accounts
Compare 0% interest credit cards
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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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