For those of us who are trying to be money-conscious and budget this year, the holidays can bring an added level of stress. But this time of year is meant to be joyous and celebratory, so instead of letting December put you in the red, some simple tips can help you enjoy the holidays without letting it take all your money too.
Here’s a few of our money-saving tips to survive the holiday shopping season:
- Make a list and a budget (and stick to it): make a list of absolutely everything you can think of buying to get through the holidays (gifts, groceries, decorations, etc.) and allocate a budget for each item. Be reasonable with your money and what you have room to spend on, cut where necessary and get creative.
- Look for deals: shop around and look for sales, savings or coupons that you can use to save some money on the things you’ll already be buying this season. A few dollars saved here and there can really add up at the end of the month.
- Resist: resist the urge to over-indulge this season, there’s no shame in cutting back on some holiday cheer. Opt out of pricy holiday lattes or set a smaller budget for holiday parties and events.
- DIY your gifts and decor: instead of allocating money for gifts and holiday decor this year, why not try your hand at some do-it-yourself ideas? Getting crafty and creative will give you the opportunity to give unique and thoughtful gifts, without the dent in your monthly funds. After all, it’s the thought that counts at the holidays, not the price tag. Want some inspiration? On our Pinterest page we’ve got some ideas for DIY holiday decor and DIY holiday gifts.
- Be smart with your cards: it might be the perfect time to cash in on your rewards earned from any loyalty or banking cards. Also, be cautious with spending on your credit card this time of year, sometimes the spending can get away from us and you don’t want an extra high credit card bill following the holidays. If you do use credit for holiday shopping, make sure you are at least paying your minimum payment each month.
- Repair, not replace: instead of buying new holiday lights, decorations or apparel, why not fix up the stuff you have? A little refresh can give anything new life, and then you’re not replacing something that works perfectly fine.
We’d love to hear your holiday money-saving tips, so please share your tips with us on Twitter.