The holidays are the most wonderful time of the year but can quickly become to most stressful time of the year. This time of year is spent worrying about how you will afford presents for loved ones. You can’t snap your fingers and make money appear, but you can follow these steps to help you save money during the holiday season.
1. Create a budget
Cut out non-essential purchases, yes that means the Starbucks holiday drinks. You can still enjoy them but cut back on how many you are purchasing a week. You’ll be surprised how much you can save for gifts.
Have the same budget for every person. This helps to not spend more or less on one person. Find a happy medium.
2. Shop early
don’t wait until the last minute to shop. The excuse of, “oh I have time” can quickly turn into, “why didn’t I start sooner?!” It’s a good idea to start Christmas shopping as early as October. Waiting until the last minute can cause stress on you and your bank account.
You may even be surprised by the pre-Christmas deals when you shop early.
3. Don’t stray away from shopping list
There is a reason it’s called a shopping list; you get what is on the list and nothing more.
4. Be flexible when flying
If you have a trip planned, purchase plane tickets early. The longer you wait, the higher the price goes. Something else to note - its cheaper to fly out on a weekday versus a weekend.
5. Reuse holiday décor
Don’t feel the need to buy new holiday décor every year. Reuse what you have and if necessary, shop the after Christmas sales to stock up on décor for next year.
6. Beware of porch pickers
With the beauty of online shopping, receiving packages every day comes with no surprise, especially to thieves. Keep an eye on the tracking of your packages, so that when it arrives you know to bring it inside. If you will not be home to bring the package in, ask a trusty neighbor to hold onto it for you until you are able to get it.
7. Suggest doing secret Santa and potlucks
With a big group of people, gifts and dinner can get expensive. Suggest a secret Santa gift giving, with a spending cap and a potluck dinner.
8. Be cautious of your credit card statements
Pay attention to your bank statements during the holiday season. Check it frequently and report immediately if you see suspicious activity. It’s also a good idea to hold onto receipts to look over if you are not sure of how much you spent at a certain place.
Hopefully these tips will give you a peace of mind when shopping for those special people this holiday season.