Financial expert reveals the tips and tricks to keep the cost of Christmas down

A financial expert has revealed some tips for keeping the cost of Christmas down as the cost of living crisis drags on. 

BusinessDesk investment editor Frances Cook revealed to the AM hosts on Tuesday morning that there are certain things people can do to help manage costs.  

She said people should keep an eye out for specific items they need and wait for them to go on sale.    

"The biggest thing you can do for Christmas is make a little list of the things that you are planning to do and get, and then set up alerts," she explained.   

"There are comparison websites like PriceSpy where you can set up an alert if that item goes on sale."   

She said people must keep an eye out for sales such as Black Friday and Cyber Monday, which will be happening between now and Christmas.    

"If you can be a little bit prepared, know what you want and hit those sales then that could be a massive saver."   

She said adults who want to save money this year, should look into Secret Santa.   

"I do quite like the idea of Secret Santa for adults, because kids will have the trendy gifts every year, the things that they are wanting," she said. "They love Christmas and we want to spoil them."   

She admitted that often adults don't want to be spoiled but would rather know that someone "cared enough to think about you".   

"If you allocate a Secret Santa amongst adults, that actually hits all of those feelings, and everyone is looking to save money this Christmas."   

"They will be so excited," she said.   

 Cook also has advice for people who are struggling to manage expectations from their kids. 

"There's this little saying that goes around often: 'A want, a need, something to wear, something to read' and you can even divvy that up amongst relatives," she suggested.  

"Then you've got something that is going to help the kids throughout the year and those are things they will actually be using, rather than a mound of plastic," she said. 

"If you can squeeze in some of the things you would've gotten them anyway, but as a treat that the kids enjoy then you're getting a little bit of a twofer."