First of my 12 saves of Christmas

GET UP TO FIVE PER CENT OFF

Cashback credit cards pay you each time you use them, in the hope you’ll rack up great swathes of interest. Yet set up a direct debit to repay in full each month, and you’re not charged a penny.

Currently the top card is the American Express Platinum, which gives five per cent cashback for the first three months. Apply now, and it’ll be in time for Christmas. For alternatives, see moneysavingexpert.com/cashback

ASK THE RIGHT QUESTION

Most people decide what they want for a perfect Christmas then ask “What’s the cheapest way?”.

Instead, ask “What can I afford to spend?” and then work out what the best possible Christmas is with that amount of cash and stick to it. There’s a free budget planner at moneysavingexpert.

com/budgeting

DON’T USE TESCO VOUCHERS FOR CHRISTMAS FOOD.

Lots of people store up Tesco Clubcard vouchers for Christmas treats, yet this is a massive waste. You get 4x the value, ie, £5 becomes £20, if you redeem them on things in the Tesco Clubcard Rewards brochure.

AGREE A NO UNNECESSARY PRESENT PACT

Why not agree a pact with friends or colleagues to just send a card, or give gifts under a certain value? If you’re embarrassed to ask there’s a tool to do it for you at moneysavingexpert.com/nupp

FIND THE CHEAPEST PRICES

Create a list then search for the cheapest prices using a shopbot (shopping robot). This is a price comparison website, like twenga.co.uk or foundem.co.uk, which searches scores of internet retailers to find the cheapest.

SPREAD THE COST WITHOUT A SPECIAL CREDIT CARD.

One big mistake is to try to pay for Christmas out of December’s income. If it’s unaffordable, you end up borrowing. If you’ve not started saving, there’s still time and it is also possible to spread the cost into January interestfree by spending on an empty card in December and ensuring you repay it in full in January.

FOR MARTIN’S FINAL SIX RULES, SEE NEXT WEEK’S COLUMN