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Interest rate rise? #Thrifty #Frugal

With just 59 days to Christmas, many pundits are predicting an interest rate rise next week. The sensible thing to do would be to wait until January but how often have we heard of people being made redundant and other heartless decisions being made just before Christmas? An interest rate rise could mean higher mortgage repayment costs as well as interest rate hikes on loans and credit cards.

Will interest rates rise next week?

Interest rate

The Bank of England base rate will probably rise from 0.25 to 0.50 when it does rise. This will effectively dampen demand for housing and in theory reduce inflation. In practice, much of the new money that is pumped into the economy goes into ever-rising house prices in the South East of England and doesn’t help the average man in the street so an interest rate rise is unlikely to cut demand for many other things and so inflation is likely to remain above the Bank of England’s target. This could mean more than one rate hike in the next year.

Christmas

People are already spending less and saving for Christmas, so expect the last-minute rush. Now is the time to look for bargains. I saw a good offer on Amazon and bought a £30 gift voucher and got £6 added to my account. £36 worth of shopping for £30? I can’t go wrong. I got 20% off my new sweaters from Matalan too using my Matalan card and the barcode on the Matalan app so I am all set for Autumn-Winter! These savings leave me with spare cash for buying Christmas gifts and I have given artistic gifts in the past but I am trying to think of other gifts that people can share. A piece of art is a great gift for all the family to share and in the past, I have bought a bottle of champagne to share or a tawny port. For some people, large tins or boxes of chocolates would be a good gift for a whole family to share. Gifts to share can save a little money and are easier to buy than individual gifts for each person.

Autumn flavours

It is getting chilly now and so we want warming soups and stews and the vegetables and stew pack are getting cheaper. I bought some Knorr stock pots this week which will add a lot of flavour to my soups and stews in the coming weeks. They are gluten-free and so more suitable for me than some stock cubes and they make a really nice stew or soup.

The Lincolnshire sausages in Aldi are also gluten-free and go great with baked potatoes or mashed potatoes for Halloween. Bangers and mash with onion gravy is a firm favourite.

Drinks

I’ll stock up on some drinks for Christmas and I have found a supermarket that is used by all the local takeaways where I can get 24 cans of beer for 19.99 so I’ll be stocking up now. Aldi is quite good for wine and spirits so I’ll have some drinks from there as well. I’ll try to remember the people who are driving this year and get alcohol free drinks.

59 days to Christmas

If you have been thrifty and frugal all year you can start shopping for Christmas early. There are just 59 days to Christmas and if you take your time you can hunt out the bargains.

That’s it for this week. If you would like to follow my blog just enter your email address at the top of the sidebar or follow me on Twitter for updates. You can also find links on my Facebook page.

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