The Christmas holidays may very well be one of the most expensive season of the year. It is very easy to go over-budget with all the parties to attend and the gifts to buy. I did not even mention the funds you need to set aside for the food you and your family will consume during the most festive of months.
Fortunately, you do not need to break the bank that much to have an unforgettable Christmas holidays. Here are a few money tips and tricks you may want to consider to make the most of the yuletide and still save up this holiday season:
Create a budget
It is very easy to lose track of your holiday spending if you will not create a budget. Make sure that you prepare a list of all your holiday spending. Include in your list everything you will need to make a budget for. This may include your Christmas gift shopping list and your December grocery list. You may very well throw in your airfare or transportation expenses for your holiday travel into your list. You should also include tips for delivery crews or parking lot attendants in your list.
Stick to your budget
Of course, it does not end with just creating a holiday budget. The second and most important part of it to make it effective is that you need to stick to your budget. You may go a little over your designated budget for each item on the list, but make sure you are still near the ball park figure to avoid going bankrupt, or worse, in depth of debt, after the holidays.
Finish your holiday shopping ahead of time
Most shops offer end-of-season or pre-holiday sale come November and early December. Some even offer huge discounts and vouchers to make the most of your shopping funds. Doing all your holiday shopping during these period allows you to avail of these discounts. This way, you also save a considerable amount of money while completing your holiday shopping list. If you are lucky, you may even get freebies and free shipping privileges.
Buy in bulk
Buying in bulk is also one good way to save up during the holidays. Most wholesale shops offer discounted rates if you will purchase in bulk. Whether you are shopping for popular Christmas delicacies or buying items for gifting, or even buying stuff for your gift wrapping, you will definitely save even more if you will buy in bulk.
Recycle Christmas decor
Buying new Christmas decorations every year can be very expensive. If you plan to save a considerable sum from buying new ornaments and trimmings each year, you can never go wrong with recycling your old decors. This way you are not only saving up hard-earned money, but are also helping save reduce trash. Check out these tips on how to store your Christmas decor so you can use them for a longer period of time.
Pay with your online banking or payment apps
Shop using your online banking and payment apps. They do not only provide convenience by allowing you to avoid long queues but they also offer rebates, rewards, or discounts this time of year. Make sure you make the most of them by using them for paying your bills, as well as.
Mind your savings even on holidays
It is not enough that you are saving so much on your holiday shopping because of promos and discounts. It is also important that you remember to set aside something for your savings. After all, your financial obligations and your financial goals does not stop after the holidays. You may want to check SavingsCalculator.org to help you in calculating your savings or setting up a new saving goal for the new year.
Give creative and thoughtful gifts to your family and friends
Not all wonderful gifts can be purchased from a store. More often than not, our families and friends would appreciate thoughtful gifts more than the expensive store-bought ones. For the grandparents, have your little ones create cards or drawings that they will absolutely treasure. For close friends and relatives, get them personalized items that they can actually use, like mugs, towels, bathrobes, or blankets. For a mum friend with a newborn, a date at the spa would be an absolute treat. Whereas, your teen-aged children will absolutely love a hiking or a camping trip as a gift. Volunteering your time, creativity, and energy is a priceless gift that anyone dear to you would appreciate. Alternately you can also opt for charitable Christmas gifts that would make gift-giving all the more meaningful.