Save Money This Christmas: 5 Tips to Keep Your Holiday Spending Under Control
Christmas is coming, and before too long the celebrations will be in full swing. It’s a glorious time of the year, filled with joy, good will, and gift giving. But amid all of the glad tidings and cheer, it can be all too easy for your holiday spending to race out of control. Certainly we all want our friends and family to have a glorious Christmas, but at what cost? The National Retail Federation estimates that the average American will spend more than $900 dollars on gift giving this year. That’s a fair chunk of the family budget, and that doesn’t even take into account holiday parties and traveling expenses. But there are ways to have a Merry Christmas and still keep the spending under control. Before your Christmas budget goes bust, take a look at these helpful holiday money saving tips.
Limit Your Holiday Gift Giving
Nobody wants to be a Scrooge at Christmas, but no one should go broke trying to buy gifts for everyone they know. This year, talk to your family and friends and agree to forgo the exchange of gifts. Focus on the children and your immediate family. Remember, everyone is trying to save money this time of year, and it is fairly likely that agreeing to not exchange gifts will come as a welcome relief to many of your friends and family members. A payday loan could help you afford to treat your family, even when your savings are low. Make sure you check beforehand and get the best available rates on offer.
Make Your Own Gifts
Nothing says “I love you” like a homemade gift. While it’s always tempting to want to get our loved ones something expensive from the shops, they are usually just as delighted (if not more so) buy a handmade gift that shows some care and imagination. This year, don’t be afraid to skip the shopping and use your imagination and creativity to craft a gift that the people on your Christmas list will be delighted to receive.
Gift Cards
Gift cards are a popular gift at Christmas time, especially for friends and family who live out of town. They are easy to give, and they allow the recipient to pick a gift that you know they will love. Smart holiday shoppers can often find discounted gift cards if they begin their holiday shopping early. Quite often, you can save as much as 20% off of the face value of the gift card if your really savvy. Look for online deals that offer discounted gift cards, and use these for your out of town family members, or for gift exchanges at work.
Set a Firm Limit for Each Gift
Most people get into trouble around Christmas because they simply do not know when to say “no”. The see an item that they know someone on their list will love, and though it is more expensive than they planned they pull out their credit card and make the purchase. An easy a tip to keep holiday spending under control is to leave the credit cards at home, and take cash when you shop. Fill a series of envelopes with a set amount of cash that you are going to spend on each person on your list. That’s your limit, and without the credit card in hand you’ll avoid the temptation of over spending.
Wrapping Your Gifts
Gift wrapping services are always expensive, so the first tip here is to make it a point to wrap your gifts yourself. But wrapping paper and ribbons aren’t exactly cheap in and of themselves. This year, consider buying all of your Christmas wrapping supplies at a discount store. You’ll save money, and the wrapping is essentially the same as you would get when you pay premium prices at a department store or card shop. When the holidays are over, go back and stock up for next year when the prices are discounted even further. This will put you a step ahead of the savings game when Christmas comes around again next year.
The holiday season is a time of giving, and but it needn’t be a time for going into debt. Plan ahead, limit your gift giving, and use your imagination to help you save money while ensuring that all of your friends and family have a Merry Christmas.