‘Tis the season to be merry but not at the expense of your money!
Christmas is just around the corner and it’s a time of love, family, friendship and celebrating the birth of Jesus Christ. However, with so many people feeling the weight of economic downturns, you don’t have to go into debt at the expense of living the merry life this holiday.
Save money this Christmas season with these tips.
Planning ahead never hurt anyone, and in fact, it gives us a definite idea on how we hope to spend our holidays. Of course, sometimes life happens and we find ourselves in situations we never planned for. However, ceteris paribus, planning ahead is always a good idea.
When planning, ask yourself questions like, “How am I spending this holiday”, “Where am I spending this holiday”, “who am I gifting?”, “How much of my income can I set aside to making this a reality?”
Budget! Budget!! Budget!!!
Budgeting is also a part of the planning stage. First of all, decide how much of your income you can set aside to make your holiday plans a reality– be realistic! When that has been decided, put it in a savings account, or any other low-risk account that could earn you some interest as time goes by. Ensure your budget is detailed to the last dot, as this will keep you from overspending.
“So what if I’ve got lots of friends and family members I want to gift?”, some may ask.
In fact, I’m sure a lot of people get overwhelmed by the number of people they know when the Christmas season comes, but we have two tips.
One, you absolutely do not have to gift everyone, you have to decide who will and will not get gifts from you.
Two, ever heard of the ‘secret Santa’? If you have a group of friends, write each other’s names on a piece of paper and have everyone blindly pick a name. The result: Everyone gets a gift for the person whose name was picked. You get to buy one gift instead of *insert the previous amount you could have bought*, making your bank account grateful.
(Online) stores usually offer discounts this season, it’s always wise to compare prices among these stores before buying gifts. This way you get the advantage of getting the same gift for a lower price. There are also coupons and discount cards circulating, all you have to do is keep your ears on the ground.
In order to save money this Christmas you should also realise that some of the best gifts do not come with the biggest price tags. You can get creative with things you know your loved ones will cherish. Cooking instead of eating out, hand-made crafty gifts (which we will tell you about in the coming days), as well as sweet messages that reflect your feelings for said loved one will go a long way because people always remember how we make them feel.
N.B. Although most of these ideas seem to be coming too late, know that it’s not too late to plan for next Christmas. However, you can still make it work this Christmas with some of the above tips.
Know any more ways to save money this Christmas? Share the tips with us.