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Crypto can feel like a bit of a minefield at the best of times, it is undoubtedly volatile, and currently, comes with fewer legal protections. However, as governments increasingly look to capitalise on the cryptomarket, and a number of high-profile hacks, regulation is on the way. This was first seen in the Financial Services and Markets Bill (FS&M Bill), and its latest proposals concerning the regulation of cryptoassets.

At The Salary Calculator, we know how challenging it can be to navigate the ins and outs of crypto and if you’re thinking of dipping your toe in as a potential investment opportunity, you’ll likely want to know where you stand from a regulatory point of view. Below, we’ll walk you through:

• The current risks associated with crypto
• The government’s regulatory plans and what they’ll involve
• How you’ll be affected as a consumer and how to keep safe when trading

Current risks associated with crypto

Crypto is known for being elusive, and volatile. According to research by the All-America Economic survey, only 8% of Americans have a positive perception of cryptocurrency. It’s only slightly better in the UK, too, with 15% thinking positively about crypto.

It’s no wonder there’s such a bad perception of the currency, either: it’s a big energy sucker, not VERY environmentally friendly, people often make losses trading (three-quarters have likely lost money on their investments in cryptocurrencies) and billions have been stolen in recent years.

Recent research by Chainalysis found that 2022 was the biggest ever year for crypto hacking, with around $3.8 billion stolen. Speaking about this, Kimberly Grauer, director of research at Chainalysis, said: “This year we saw some really big attacks that accounted for a lot of the value hacked. We saw a lot of advancements in the Web3 space – that introduced large new vulnerabilities that expert hacking organisations exploited.”

The EU has already outlined the world’s first comprehensive set of rules, due for final approval shortly, and to be introduced by next year. The UK is now following the EU’s example.

Plans for increased safety

To battle against the fraud and theft that is rife in the cryptomarket, the UK government has set out plans to bring in tighter regulation. According to the Treasury, this regulation is pegged to “protect consumers” without “stifling the potential economic benefits” of the crypto industry. This comes after criticisms that crypto is, at present, a “wild-west.”

So, what will the regulation actually do? Well, according to the government it is going to bring regulation of a broad suite of cryptoasset activities in line with its approach to traditional finance.

The government has outlined in its consultation for the proposals:

• It will create rules on crypto-asset promotions which are “fair, clear and not misleading,”
• Boost data-reporting requirements, including with regulators,
• Introduce new regulations to prevent “pump and dump,” which involves people artificially inflating the value of a crypto asset before selling it.

In a statement, Andrew Griffith, economic secretary to the Treasury, said: “We remain steadfast in our commitment to grow the economy and enable technological change and innovation – and this includes cryptoasset technology. But we must also protect consumers who are embracing this new technology, ensuring robust, transparent and fair standards.”

How the changes could affect you and how to keep safe when trading

According to research, 2.3 million people in the UK own some form of crypto asset, which means that there’s a whole host of people that could be affected by the regulation proposals currently open to consultation.

There are a few key things to note and below we’ll go into a little more detail:

• The government is discussing an issuance and disclosure regime, which will seek to provide appropriate liability and compensation for untrue or misleading statements, as well as minimum standards of information around issuance and investor protections regarding marketing materials,
• Regarding exchanges, the government is exploring “transparent and fair access and operating rules,” with systems and processes for ensuring accurate market data in real-time,
• It is proposing a dedicated regime to detect and tackle market abuse in digital asset markets (spoofing and layering, pump and dumps, wash trading, etc.),
• With regard to lending programs, the government outlined there should be: adequate risk warnings for consumers; adequate liquidity and wind-down arrangements; clear contractual terms for ownership and, ringfence retail funds in the event of insolvency.

Further to this, on Monday 6th February, the Government published a policy statement on its approach to cryptoasset financial promotions regulation. This outlined that cryptoasset promotions to UK consumers, will have to be clear and fair, and offer customers a 24-hour cooling-off period.

Speaking about the proposals, Jason Guthrie, European head of digital assets at the financial firm, Wisdom Tree, said looking forward, the “devil would be in the detail” with the right regulation in the interests of the industry and customers. “Having a solid a regulatory framework, having enforcement capabilities, is really important for consumer confidence. The sooner we have details around concrete proposals, the easier it is to plan for and build towards,” he said.

The proposals would largely see more security around investment, however the consultation on the proposals will run until April 2023, and safeguards will not be introduced for quite some time. Even when they are introduced, they still won’t eradicate all the risks associated with trading. Until then, to ensure you safeguard yourself, take the following steps to make investing safer:

• Be sure to use a trusted crypto platform and make sure to carefully read your exchange’s user terms and agreements. This will assist you with finding out where your funds are stored and what will happen if an exchange goes bankrupt.
• Enable two-factor authentication so that you’re provided with an additional layer of security.
• Avoid Public Wi-Fi Networks, unless you have a VPN. This is because public Wi-Fi networks are vulnerable to hackers and allow them to spread malware.

There are no two ways about it, for most people, January is one of the hardest months of the year, with February following close behind. In the months following Christmas, people are often feeling tired, tight on money and just generally a bit dismal. However, a good way to banish the winter blues is to find something to look forward to, such as a little (or big) getaway.

At The Salary Calculator, we know that it can be challenging to find a good deal when it comes to booking a holiday – you don’t want it to cost you an arm and a leg. So, below, we’ll walk you through the following:

• Our top holiday saving and low-cost holiday tips
• Some of the firms offering low-deposit options for holidays
• Some good holiday deals and places to compare deals
• Tips for avoiding holiday scams

Holiday saving & low-cost tips

Thinking about the total cost of a holiday can be a bit overwhelming, so you might feel tempted just to wing it and hope for the best. However, to ensure that everything goes to plan, it’s best to break down everything that you’re likely to need and make sure you set aside enough money so that you can enjoy your holiday to the fullest.

While you may have thought of the basics, such as accommodation and travel costs, make sure to also include the following in your list:

• Travel insurance – to cover you for any mishaps or lost luggage,
• Travel money and any currency exchanges you may have to sort out,
• Toiletries for your trip, including sun cream, so your holiday is not ruined by singed skin,
• Any new holiday clothes or swimwear you might be required to purchase,
• Whether you’ll need to hire a car once you’ve at your destination – don’t forget about car insurance too,
• Whether you’ll want to travel in and around the place you’re visiting and how much this is likely to cost,
• Entertainment costs,
• Food and drink costs – whether you’re planning on buying it at the supermarket or eating out.

Once you’ve identified the key areas you’ll be saving for, there are a number of ways you can then proceed with your savings mission, whether that’s in little ways, like putting your spare change in a jar each week or opening up a savings account. Why not use a savings or budget calculator, too, to make things even more straightforward for yourself?

Savings can also be made in other ways, for example, by booking your flights in advance. According to Expedia, international flights booked four or more months in advance end up saving people around 20% off their fights when compared with those booked closer to the flight, like two months prior. The same goes for train tickets if you arrange a getaway a little closer to home. Likewise, when flying with a group of friends or family, you might be tempted to pay extra to get a seat next to your group, however according to research by MSE, all airlines, aside from Ryanair, always aim to allocate group seats together – this can be further guaranteed by checking in to the airport as soon as possible.

Likewise, The Civil Aviation Authority (CAA), the aviation regulator, says airlines should “aim to sit parents close to children” – if this isn’t possible, they should not be separated by more than one aisle or more than one seat row.”

Firms offering small deposit options

In the months following Christmas, there is always an influx of holiday bargains to be had, and there is a wide range of companies offering small deposit options:

• EasyJet’ offers holidays with a £60pp deposit, a 23kg luggage allowance and an option to pay in instalments.
• First Choice offers a low deposit scheme to help those looking to go on holiday spread the cost of their getaway even if they don’t have the money at the time of booking. Its offerings start as low as £60pp.
• TUI also offers low deposit holidays with prices starting at £50pp.
• Jet2holidays offers customers the ability to pay a £60pp deposit to secure their holiday and then pay the balance ten weeks before they jet off.

Finding good holiday deals

The best way to find the perfect holiday deal for you is by first checking out comparison sites. Skyscanner is a good site to visit if you’re looking to find the cheapest airline flights. Kayak is similarly a good starting point for finding both flights and hotels. Likewise, it’s always work checking out TravelSupermarket.

If you’re looking for sites that offer legitimate flash sales, check out Holiday Pirates or Travelzoo. However, you’ll also likely find good deals if you plan ahead, as many places offer early booking codes or discounts.

Likewise, who says that a holiday has to be abroad? These days, more and more people are opting for a staycation rather than travelling internationally. There are a number of companies offering affordable getaways in the UK, including:

• My Seaside Luxury, which offers a range of affordable sea-view apartments
• UniversityRooms.com allows you to stay in student accommodation, in some cases, for as little as £90 for en suite doubles, for those looking for a budget trip in a university town like Oxford or Cambridge.
• Malmaison similarly has hotels in 16 UK cities, and offers a £75 a night stay across 13 of these locations.

Watch out for holiday scams

Lots of people are keen to get away at this time of year and, in the cost of living crisis, are trying as hard as they can to identify the best deals. Statistics show that 25% feel they’ll be unable to afford a holiday without a good deal. Of course, when people are desperate for good deals, they’ll be people who take advantage of that, and charities are warning that holiday scams are on the rise.

A recent poll by Opinium found that one in ten people would book a holiday through an unknown provider if it meant paying less. Considering these statistics, it’s important to stress that when booking a holiday, you make sure that the company is legitimate and verified. The best tip here is to go with your gut, if you feel like something feels dodgy, for example, the links look suspicious, or the deal feels ‘too good,’ trust your instincts. Likewise, paying with a credit card can add another layer of security.

Tony Neate, CEO at Get Safe Online, outlines: “As the cost of living rises, we want to help protect everyone’s hard-earned cash and urge people to stay alert when it comes to booking a holiday. Trust your instincts and remember: if a deal looks too good to be true, then it probably is.”

As the UK enters a recession, inflation rises, and the cost of living soars, times are tough, and research shows that students in higher education are increasingly feeling the pinch. Research from Unite shows that around two-thirds of students are now worried about the increased cost of living, and more and more are either considering or proceeding with dropping out.

Recently, a Department for Education (DoE) spokesperson said that it is responding to the crisis by increasing the amount students can access through loans and grants for living and other costs and cited the work of universities in this area. However, many students and those working within education argue that more help is needed and are pushing for more resources to become nationally available. The UUK, a collective of 140 universities, has specifically called on the government to do more to help universities support students.

At The Salary Calculator, we understand how stressful it can be trying to juggle education and financing your day-to-day, so, below we’ll explore:

• Some of the context around student finances right now
• The financial support and advice currently available and how to access it
• Tips to help you stretch your loans and grants

The rise in students struggling with the cost of living crisis

There are no two ways about it, students are really feeling the brunt of the cost of living crisis, and the implications are far-reaching. Working-class students are already underrepresented within higher education, and the current crisis threatens to widen the gap. Figures from the Student Loans Company in September reveal that almost 40,000 students in England, Wales and Northern Ireland permanently withdrew from their courses and stopped receiving student loans by the end of August.

It’s no wonder so many are finding university to be financially unviable, with a recent survey published in July finding that 11% of students were using food banks, with one-third having to rely on credit cards to survive. Moreover, while working to support one’s studies is nothing new, studies show that students are being forced to work far beyond the recommended 15 hours a week, with 9% of students working 21-30 hours a week and 11% working over 31 hours. Moreover, Unite has outlined that around one-third of students are having to increase their working hours just to stay afloat.

What financial support is available and how can you access it?

On the 11th of January 2023, the government announced that it would provide an additional £15 million in hardship funding this financial year to enable universities to better support students facing financial strain. Likewise, the government outlined that loans and grants supporting undergraduate and postgraduate students will be increased by 2.8% for the 2023/24 academic year, while university tuition fees will remain frozen at £9,250 for the next two years.

In addition to this, the 24 Russell Group universities recently announced a pledge to inject tens of millions more in financial support to help students with the rising cost of living, and match the UKRI uplift to its minimum 2022-23 postgraduate research stipends.

But, what does this mean in real terms? Well, if you’re struggling with finances at university, you may be eligible to access your university’s hardship fund. Eligibility is dependent on a number of factors, which we’ve outlined below:

• You’re a student with children or a single parent,
• You’re a student from a low-income family,
• You’re a student that is a ‘care leaver’,
• You’re a mature student with existing financial commitments ,
• You have a disability,
• You are homeless or living in a foyer.

Find out more about accessibility to hardship funds here.

There are other measures being brought in by universities, and these offerings vary from institution to institution. Durham, for example, is offering students free breakfasts while eligible households at York are being offered help with energy bills. The University of Wales Trinity St David (UWTSD) is offering meal deals for students in the university canteen, for example, soup and a roll for £1, and a food hub offering items for free for students or staff who need help with “no questions asked.”

Alongside hardship funds and student finance, you should check to see whether you’re eligible for other forms of scholarships, bursaries and grants. Scholarships are available to high achievers but are also awarded based on gender, ethnicity, background and disability. In the case of the latter, there is the Disabled Students’ Allowance. You can also get a scholarship for:

• Being vegetarian or vegan via The Vegetarian Charity’s grant,
• Being talented at eSports at the University of Roehampton,
• Studying Welsh through the Coleg Cymraeg Cenedlaethol scholarship.

To read more about the different loans, grants, bursaries and scholarships available, head over here.

Tips for stretching loans and grants

Once you’ve managed to access the grants, loans and scholarships you’re eligible for, you may find that you’re still struggling with your finances, and in this case, below, we’ve outlined some helpful tips to help you stretch your money a little further.

Groceries are undeniably expensive right now, so making savings where you can is helpful. Luckily there are a number of sites that offer either reduced or free food. Both ​​Olio, and Too Good To Go, are good zero-waste apps to check out. Likewise, check to see if there are any food waste supermarkets in your area. You can also check what food banks are available to you locally by searching on the Trussell Trust’s website.

When it comes to planning your week and making sure you keep costs as low as possible, meal plans can be really helpful. This way, when you go out to your food shop, you have a clear idea of what you need to buy and how much it’ll cost, saving you a lot of hassle and money.

Another tip for finding cash when things are tight is to look into selling items that you don’t use or need anymore. Sometimes we can surprise ourselves with the amount of stuff we have that’s just gathering dust. Facebook Marketplace, eBay, Gumtree, Depop, and Vinted are some of the most popular sites for doing this.

It could also be beneficial to look into switching to a better student bank account because there are lots that offer lots of extras, such as free cash and railcards (which definitely can’t hurt if you’ve seen the price of train tickets recently). Money Saving Expert is a good site to check out if you’re looking to compare and contrast. Likewise, using a student bank account often means you’ll have access to a 0% overdraft, and this can act as a buffer when things get tough.

That said, it can be easy to slide into debt when money is tight. With around 27% now using credit cards to help with student life, there’s always a risk of not being able to pay back what you’ve taken out and that can come with a lot of stress. Don’t face this alone. There are a number of debt advice charities out there that can help, including:

• StepChange,
• National Debtline,
• Debt Advice Foundation.

As we begin 2023, you’re likely thinking about New Year’s Resolutions; many of us do. The new year feels like a fresh start and a great opportunity to get your ducks in a row. Of course, the last few years have been incredibly difficult for millions of people when it comes to finances, and in the current cost of living crisis and recession, many people are worried about money and looking for ways to improve their finances.

A recent study by LucidTalk, for example, surveyed adults living in Northern Ireland, found that almost half were either worried or anxious about their money situation. Over half of those aged between 18-45 were anxious, and 33% felt angry. These figures are likely similar across the UK.

That said, it’s not always easy to set or keep New Year’s resolutions, and research shows that only one in five can keep to a resolution for one to three months, and only 2% make it the full year. Something that is a key component of maintaining one’s resolutions is ensuring that they’re realistic and manageable; for example, resolving to become a millionaire by year’s end is likely to end in a reasonable amount of disappointment.

Below we’ve outlined some of our top tips for entering the new year with good intentions and maintaining your resolutions.

Be more aware of your spending and take a spending fast

It’s easier to know where you are with your finances if you have it all laid out in front of you. If you can categorise your spending and highlight any unnecessary expenses, or bad spending habits, you’ll likely be more able to make savings.

There are a number of budgeting apps out there that can help you gain more insight into your spending habits, and these include:

• Emma – which is a good app for helping you identify any subscriptions that you don’t use and are wasteful,
• Money Dashboard – which can help you budget by planning for future goals and categorises transactions,
• Chase – which is good for earning interest and gives you a spending overview of your monthly transactions.

Another handy tip to make you more mindful of your spending is to remove your bank details for apps that tend to be a money sucker. Whether Uber Eats or Amazon, adding another layer of admin when making purchasing decisions can help you to stop and think whether or not you really want to buy something, helping to put an end to easy spending.

Confront your debt

Debt can really pull you down and be an incredibly heavy weight to carry, causing stress and anxiety and research shows that being burdened with debt can affect both your mental and physical health. It can also be a scary thing to confront, and many prefer to keep their head in the sand. However, being brave, confronting, and addressing your debt can be transformative and come as a huge relief.

It can be challenging to know where to start, though, so it’s helpful to make a clear, concise list of all that you owe and order it in terms of importance. Our Debt Consolidation Calculator can help you to create this list, and see how much it is costing you in total. Following on from this, creating a personal budget to make dealing with the debt more digestible and easier to take on. It can never hurt to reach out for independent advice as well and set up a talk with your creditors.

Try to improve your credit score

There is a raft of benefits to improving your credit score. Some of these benefits include:

• You’re more likely to be offered a lower interest rate when borrowing
• You’re more likely to get approved for credit
• You’re more likely to be offered a higher credit limit

All of the above can help you achieve some of your wider goals more quickly. So, to boost your credit score, some of the following techniques can be applied:

• Ensure that you pay on time and stay within your limits,
• Prove your creditworthiness by taking out a smaller amount of credit,
• Register to vote.

Undertake a pension health check

Right now, when finances are tight and the cost of living is high, for many people, pensions are the last thing on their minds. Many are now deciding to decrease the amount they pay into their pensions or hit the pause button on pension contributions altogether. This can be tempting, however, experts say that a move like this can be incredibly damaging in the long run and jeopardise your retirement savings.

In the New Year, it can be helpful to do a little health check with your pension and see where you are with your future savings. Through this, you’ll be able to assess past performance, if you’re hitting your goals and whether there are other better pension options on the market.

If you’re not currently saving into a private pension, it could be worth thinking about opening one. Research from Which?, for example, shows that individuals need £19,000 a year to live comfortably in retirement (£28,000 if you are a couple). Likewise, research shows that the minimum required contributions are near the 12% mark to achieve suitable funds in retirement.

Consider switching bank accounts

A study conducted back in 2020 found that nearly half of Brits (40%) stay with one bank for their entire lives. Often it can feel like too much of a palaver to switch, and many also don’t know that there are better deals. You should only stay loyal to a bank if it is serving your interests, and if there’s a bank out there with better deals and perks, why not make the switch? Last year, for example, banks were offering as much as £200 for new customers to switch their accounts.

Make sure you’re up-to-date with the latest personal finance developments

These days, it feels like everything is almost always in flux, especially when it comes to personal finances. The best way to make sure you’re prepared for any changes that may affect your finances is to keep up-to-date with all the latest.

There are upcoming changes to income tax (a freeze in April), potential council tax hikes, and the state pension and benefits are set to rise with inflation. At The Salary Calculator, we’ll help you keep your finger on the pulse with these announcements, so that you can get a better grasp on what you need to do with your money.

With merriment and mistletoe, gingerbread houses, and Christmas lights, the festive season can be a wonderful time to get together with loved ones. However, it can also be pretty pricey, especially these days. According to research from the Trades Union Congress (TUC), for example, the cost of traditional Christmas dinner food has risen by an average of 18% in the space of a year, three times faster than wages! Meanwhile, Finder predicts that those across the United Kingdom will spend £20.1 billion on Christmas gifts this year.

With the cost of living crisis making us feel the pinch more than ever, it’s likely you’re looking for ways to scrimp and save this Christmas. So, at The Salary Calculator, we’ve compiled a list of seasonal saving tips to make things a little less stressful.

At The Salary Calculator, we’ll explore the following:

• Ways to save on Christmas food shopping,
• Guidance on how to keep presents affordable,
• Tips for low-cost transport,
• The top tips for energy saving in the season, and
• Apps that keep saving simple.

Christmas Food Shopping Saving

With so many little bits and pieces to buy for the festive dinner, it can really add up! However, it can help to know some of the cheapest supermarkets to buy your Christmas food from. Alert conducted a study into this (not including Aldi and Lidl), and found that Asda has come top of the list at £55.90 for festive essentials this year. Holding the middle ground is Morrisons, at £64.24, while Waitrose, perhaps unsurprisingly, was the most expensive at £73.81.

In a separate review by MoneySupermarket, which included Aldi, the budget supermarket was crowned the cheapest supermarket for festive bits in 2022. This was followed successively by Asda, Tesco, and Lidl.

Once you’ve decided which supermarket you’ve chosen for your Christmas shop, you can save further by employing some of the following tips:

• Go plant-based! – There’s a misconception that going plant-based is expensive, however, researchers from Quorn found that going meat-free this Christmas could save you up to 71%. Whether you buy a meat alternative, or make a nut roast, swapping out the meat components to your Christmas dinner can save a fortune, while also helping the planet and saving the animals!
• Check online codes for new shoppers & other discounts – Many supermarkets offer discount codes to first-time online shoppers, which can save you a tonne on your Christmas shopping. This can be as much as 30%. Plus, this time of year, there are lots of other discount codes available as well. Sites like VoucherCodes.co.uk can be a big help here.
• Use your leftovers, don’t throw them away – When you’ve finished your Christmas dinner and you’re full to the brim, often the thought of more food can make you a bit queasy and you may throw away the extra bits left uneaten. This leads to five million Christmas puddings, two million turkeys, and 74 million mince pies being sent to the rubbish tip while still edible. To make sure you don’t add to this, turn leftover veg into soups or bubble and squeak.
• Only buy what you’ll eat – For the above reasons, make sure to buy only what you know you’ll eat. It can be tempting to go ham on Christmas shopping and buy all the little trimmings and extras, but if you know it’s unlikely to get eaten, don’t buy it and save yourself a pretty penny.

Affordable gift giving

Gift-giving can be one of the most stress-inducing parts of Christmas and cause a lot of worry when it comes to finances. That said, there are things you can do to alleviate this stress and have a more affordable Christmas.

Agreeing to a price limit on gifts with friends and family can help to lessen the burden when it comes to gift-giving. This allows you to set a budget and stick to it.

Likewise, choosing ‘preloved’ presents can be another great way to cut the cost of Christmas. There can be a lot of pressure to buy your loved-ones new clothes, toys and ornaments, but there’s a whole world of preloved presents out there, just waiting for a new home. Charity shops can be a brilliant way to go, and you’ll be helping a good cause along the way, and not to mention the planet!

And, why not have a go at making Christmas presents this year? Whether that’s knitting a hat or making Christmas truffles or honeycomb, making your own Christmas presents can save a ton of money, be a fun activity, and add a personal touch to gift-giving.

Transport tips

Transport around the holiday can get pretty expensive, whether that’s because you’re travelling by train or you’re taking a cross-country car trip to see loved-ones. Luckily, we’ve got some travel tips to make things slightly cheaper.

One thing many people don’t think of when travelling by car, is how much extra fuel is used when the boot is packed in full. So, if you’re about to set off on your Christmas travels, remove any unnecessary items from the boot because this can end up costing you more than you’d imagine.

If you’re travelling via train, the age-old advice of booking your trains in advance has never been more true. Figures show that you can save up to 60% on your train fare by booking it early (up to 12 weeks in advance). If you’ve left it a bit late (after all, there is a lot to get done in the lead-up to Christmas), before you book an open return, see if you can buy single tickets or ‘split’ tickets to break up the journey, this can sometimes cut your ticket price by quite a bit.

Saving energy in the season

Everyone knows how expensive energy is right now, and unfortunately, prices aren’t expected to lower anytime soon. However, there are some practical ways to reduce your energy bill this Christmas.

Why not use the microwave for cooking your vegetables, rather than the hob? According to research by Quorn, carrots, sprouts, and peas can all be cooked in under three minutes, working out at around just 3p. The research team found that this is a 79% saving on using an electric hob, and a 6% saving on using the oven.

These days, it’s very much the age of the air fryer, and it’s not surprising why. Air fryers take less time to cook and use less energy – and they can be used for a whole variety of cooking. According to Jenny Tschiesche, the author of The Air Fryer Cookbook, you can cook just about anything, and even the star of the show of your Christmas meal can be popped in if the basket is at least 7-8 litres capacity.

While it might feel tempting to light up your house with an assortment of multi-colored lights and inflatable Christmas decorations, it might be a good idea to leave the lights off this year. You won’t be alone, either. According to a survey from GoCompare Energy, 27% of people are planning on putting up fewer lights this year and a sixth aren’t putting up any at all. However, if you’re overcome by the Christmas spirit, and feel the urge to light it up, purchase LED holiday string lights or timed lights that turn off automatically.

Best apps to help you budget and save

These days, there are lots of apps that can help you work out where you are with your finances and help you save.

The Too Good To Go app, for example, enables people to purchase and collect high-quality food from restaurants and supermarkets that would otherwise go to waste at an affordable price.

Meanwhile, the Emma app is a free budgeting app that tracks your subscriptions, sets up monthly budgets, tracks your payday, and makes payments within the app. Similarly, Money Dashboard links to over 90 UK banks and financial providers so you can get an overall view of your finances and budget accordingly.