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15 November 2022, 11:39
Money Saving Expert Martin Lewis is campaigning for people to cut down on unnecessary gift giving.
Martin Lewis has told people to refrain from buying lots of presents this year.
The Money Saving Expert has been giving people tips on how they can save money over the festive period.
And his latest advice is to stop getting gifts for the people around you, instead suggesting secret santa, charity donations or nothing at all.
Speaking on his podcast, he said: “This isn’t about presents for your spouse or for the kids under the tree, this is about that every growing list of teachers and friends and extended family we buy for.
“We all put pressure on ourselves to buy, buy, buy when sometimes people don’t want or need it.”
The dad-of-one went on to say ‘this year more than ever before’, we really have to be mindful of the gifts we are buying and the impact they have.
Martin points out that not only will most of them end up in landfill, but it also puts pressure on other people to buy for you.
“There might be a selfishness in you celebrating the gift of giving,” he said.
“If you’re giving a gift to someone who will feel obliged to give back to you and cannot afford it, you have to be very mindful.”
Instead of spending unnecessary money, Martin added: “Let’s just go cold turkey on the gift giving and focus on the people we really want to give gifts to.
“The children, your nearest and dearest who you want to show that affection to.”
This comes after Martin revealed a way to get £200 into your account before Christmas.
Writing in his weekly newsletter, he revealed HSBC is offering a £200 deal for those who switch to their bank.
To be eligible for the £200 bonus, you'll need to pay at least £1,500 into your account within 60 days and set up at least two direct debits or standing orders too.
If you meet the criteria, £200 will be paid within 20 days of you switching over or when you deposited £1,500 into your account.