Full list of supermarket Christmas savings schemes and how to get 25 free cash [Video]

CHRISTMAS is one of the most expensive days of the year for families, with food, drink, presents and decorations typically costing hundreds, if not thousands of pounds.

In fact, research by comparison site MoneySuperMarket found that the average cost of Christmas rose to £1,811.70 per household last year.

Given that’s more than 80% of the average monthly income, it’s no surprise that families are looking for ways to spread the cost of festivities and stretch their money as far as possible.

Major supermarkets have responded by creating Christmas clubs, which allow you to save up each month, typically in return for a bonus in terms of points, vouchers, or cash to spend.

However, there are risks with these schemes.

First, money held with a supermarket is not protected by the Financial Services Compensation Scheme (FSCS), which means you won’t get automatic compensation and protection if the company goes bust.

The other thing to consider is that despite the …