Supermarket Christmas Savings Stamps

lanny8

As always we've been buying Supermarket Christmas Savings stamps to ease the spending at Christmas. However, I am wondering now if it is a good idea, as obviously the stamps we have already purchased this year are devaluing each day and week with the ongoing inflation and rising prices we're all experiencing. Any one else had any thoughts regarding this. I looked around MSE site but could find nothing regarding this. I am unsure whether I might be better off spending them now and getting a better deal for the money spent, or continue knowing I wont get full value for my money. Anyone else have any thoughts?

tacpot12

I don't think you should spend the money now. If you spend what you have saved now, you might get 'more' food than you will be able to buy in December, but you will still have to buy ALL the food you need in December AND you won't have saved anything to help spread the cost. 

Really you should be saving MORE in stamps as you know you will need more money saved in December if Christmas is not to come as a financial shock. 

I've never been a fan of Savings Stamps and so I save for Christmas in a bank savings account. I have a Standing Order set up from my current account that transfers the amount I want to save each month. I have not had to increase my savings this year because I had a small surplus last year. 

wild666

The stores that do savings stamps normally say that if you fill the card they will add extra money to the total on the card, last I checked it was £2. I don't know if they still do it but as the Tesco saying goes every little helps. 
I personally don't use savings stamps and just buy what I need.

jon81uk

If as suggested above there is a decent bonus then it is worth it as probably better than many savings accounts.

For example Tesco give £1.50 bonus if you save £25 so that's sort of 6% interest really.
Tesco Clubcard Christmas Savers | Tesco Clubcard vouchers | tesco.com

Iceland give £1 for every £20 so thats 5% interest.
Iceland Bonus Card | Iceland Foods

its not exactly the same as a savings account as it doesn't compound the interest but given most are move line 1.5-3.5% its not bad if you will definitly spend it in those supermarkets.

If you won't need to spend that amount at Christmas then of course it isn't worth it.

lanny8

Thank you everyone, your comments make a lot of sense. I think I was just overthinking, and you're right I still have to buy in December, regardless of how much everything will cost then.

Giammy85

I have signed up to Clubcard Christmas Savers long ago and today Tesco sent me an email: You’re ready to start saving for Christmas 2022. And remember, you only need to top up your account with £25 or more in cash to get a bonus voucher.

But I log in and understand that deadline has already passed and I cannot get a bonus voucher. Other people tricked this way? Do you pencil a date for this in 2023 given that Tesco stays quiet about this scheme?

MovingForwards

Tesco are always prompting about the Xmas bonus, it's even on the statement showing how much, or zero in my case, has been saved towards it. They've done it this way ever since I've had a clubcard.

Katiehound

You could always phone customer services and tell the sob story.
 It's worth a free call anyway- and of course explain that you had never joined the scheme in previous years......Good luck