Budgeting Tips for the Holidays
Be mindful of money this season! Along with holiday joy come holiday bills. To avoid a sleigh-size tab, plan to save money and maximize the payoff.
Here are a few tips to get you started!
Order Online. Avoid crowds by ordering gifts online from your laptop or phone. You can spend more time with friends and family during this hectic season and compare prices to ensure you’re keeping track of your spending.
Be Thrifty. Why not get your shopping done early? Many retailers offer Black Friday and Cyber Monday deals to help you out. Check for coupons in the paper or online, then head on over!
Trust your Budget. When you start the season with a plan, it can help alleviate stress while shopping. It’s also important to have spending limits in place, so we don’t overspend on impulse buys during these busy times of the year! Plenty of apps are available for mobile devices where all our financial information is stored, especially when feeling overwhelmed at malls.
Get Crafty. The handmade touch is something everyone appreciates in a gift, and doing a DIY project can save you money. There are many online options for beginners too! Some examples include wreaths made from scratch or scrubs.
Tip: If it’s not your thing, you can always include the family. Make it a group project where someone helps with designs while someone sews everything together. You’ll end up having created an excellent present with sentimental value.
Give the Gift of Time. Instead of buying presents for friends and family this season, why not spend quality time with them while you give back? Hosting dinner for a needy family is an excellent way to offset what would have been spent on gifts—splitting the cost together as hosts will be more affordable than if each person bought their gift. I’m sure the presents won’t be missed; it feels good to pay in kind.
Hosting a Party?
If you think ahead when party planning, it does not need to eat up too much of your budget.
Think ahead. Start thinking about your ingredients early and keep an eye out for sales on non-perishable goods. By beating the holiday rush, you can afford more for less.
Be Resourceful. Are you hosting a large gathering? Ask each of your guests to bring a dish. This cost-effective tip will act as a conversation starter too.
Earn Rewards. Several retailers offer cards to earn points toward future purchases, including entertainment.
Choose Wisely. Your time matters, so spend more with your guests and less in the kitchen. Pick a quick and easy recipe that won’t cost a lot. Prepare the morning or the day before as much as possible for a smoother hosting experience.
Bottom Line Analysis
The holidays are a time for giving, but that doesn’t mean you have to go into debt. There are plenty of ways to budget for the holidays and still have a wonderful time. We hope these tips help you save money while enjoying the season. Do you have any more ideas on how to save this holiday season? Let us know in the comments below!