How to Save Money During the Holiday Season
‘Tis the season to start saving and spending wisely! The holidays are a joyous time, as it is spent with family and friends – and lots of delicious food! However, with the numerous gifts and parties, this season is often a total budget-buster. Here are some tips to save money this season and keep your holiday spending in check.
1. Make a Budget: You may want to determine a general spending limit, or perhaps you are going to allocate a specific amount of money to each individual on your gift list. Regardless of how you do it, create this budget before the holiday season is in full swing. Revisit it often to ensure you’re staying on track!
2. Embrace Potluck: To celebrate the holiday season, many spend time at events and parties. However, the food, decor, and activities add up quickly and can be a tremendous financial burden. If you’re hosting, consider having a potluck! Ask your guests for help with appetizers, sides, and drinks to reduce the burden on your wallet.
3. Get a Head Start: Last-minute desperation shopping and rush shipping charges will lead to financial stress. To avoid this, start your holiday shopping early to take advantage of sales – such as Black Friday deals! Spread out your expenses over several months by buying some gifts early and some later.
4. Only Carry Cash: To keep your spending on track, use cash for your holiday shopping. If you withdraw only the amount for which you have budgeted, you’ll use only that - which prevents you from going over budget.
5. Host a Gift Exchange: If you’re celebrating with a large group of friends during the holidays, opt for gift exchange games. You’ll only have to buy one present instead of multiple, but everyone still walks away with a gift!
Wishing you a happy & healthy holiday season!