The holidays are a great time to bond with your favourite people, but can also be one of the toughest times during the year in terms of budgeting and not spending copious amounts of money. Rightly dubbed the time of giving, it often results with many of us weeping at the state of our bank accounts after the New Year rolls around. Today we have some handy tips that will surely save you from bankruptcy this silly season.
#1 SECRET SANTA
Secret Santa is the best way to save on all the unnecessary gifting of ridiculous gifts that nobody actually wants. Avoid ugly Christmas jumpers and the 77th pair of thermal socks that you get from family members. Now you have a much higher chance of not getting those. Instead you can go down the Secret Santa route. Set a budget that everyone can handle so people get the same bang for their buck. It adds a little mystery to this whole magical time. Why stop with your family? Take this idea to your friends and more importantly to the office. This way you will only have to buy three presents instead of thirty three and it lowers your holiday anxiety levels.
#2 SET A BUDGET
One of the most financially rewarding things to do during Christmas is setting a budget on expenditures. Make sure to give yourself a little wiggle room and take things other than presents into consideration. Think about things like parties, donations, travel costs, food expenses and others. Putting everything down on paper also helps you rethink how much you really need to spend this year. Is it really necessary to get a new tree each year or can you DIY something to spice things up and also help the environment at the same time.
#3 DO IT YOURSELF THIS CHRISTMAS
There are countless ways to save money during this time by doing things on your own instead of purchasing Christmas products in stores. You can make this highly entertaining for your children and will help getting them into the holiday spirit. Make your own tree, decorate differently around the home, bake cookies for your family and loved ones and make your own presents.
#4 FREE FESTIVITIES
So many things to do during Christmas and so little time. Why not focus on the free activities you can do with friends and family. Take a walk around your neighbourhood and check out the lights, make some hot chocolate and have a Home Alone movie marathon, go carolling and say hello to Santa at your local mall. All of these things leave cherished memories, especially for children who bask in the attention and love.
#5 GET A HEAD START
We know it’s a little early in the game, but if you can save enough pennies for just a few presents, there are so many money saving presents you can snap up during the sales. Black Friday has the potential to offer ridiculous discounts of up to 70% off, so shop locally or take advantage of internet shopping during this time.
You have our five best tips for this holiday season, so the question that remains is where in the world are you going to spend all your extra cash?