Spend Less This Holiday with These Money Saving Tips

Eight Money Saving Tips to Help You Spend Less This Holiday Season

The holiday season is coming up and you are faced with the same dilemma that comes up every year. You want to be festive and celebrate, but money is tight.

This year, you can spend less, with our guide to holiday spending. You’ll save more than ever with these eight money saving tips:

1. Create a Holiday Budget

Write down all the expenses you will need. Gifts are one expense, but think of all the little things that add up: food, drink, decorations, cards, and the list goes on.

Look at the money you have available to spend already, and calculate how much more you will need and start saving up the difference.

Remember to be reasonable with your numbers and leave some room for unexpected expenses.

2. Start Saving as Soon as You Can

You know the holidays are coming, so start saving money as soon as you can. The more time you have, the less effort you will have to put in.

3. Pick Up Holiday Gigs

Make a little extra cash around the holidays. Get a job as a gift wrapper, or pet sit for people who are going away for the holidays, for example.

4. Set Limits

Make a list of everyone you have to buy a gift for, and set a limit for how much you will spend for each person.

5. Make Your Gifts

People appreciate the thought and care that goes into a gift that you have made yourself. Besides being more cost effective, it also allows you to personalize gifts.

6. Don’t Buy the Latest Gadgets

Most people will be perfectly happy with electronics that aren’t the absolute latest model. Gift an older device to those who don’t mind that the features aren’t the “latest and greatest”. Remember, these features were the latest and greatest just a few months before.

7. Don’t Wait Until the Last Minute to Shop

Starting early means that you will be able to take advantage of sales as they come up.

Waiting until the last minute to shop could put you in a situation where you have fewer gift items to choose from as things sell out, and there goes your budget. Not to mention the stress!  

Retailers amp up their sales tactics during the holidays. They are good at enticing spending that you will later regret, by using triggers like music, lighting and display placement. Stick to your shopping list!

8. Use a Secret Santa Gift Exchange

In a Secret Santa gift exchange, a group or community (which could include family or workplace department, for example) are randomly assigned a person to give a gift to.

This means that you don’t have to exchange gifts with every single member of your family or group, freeing you from the stress of coming up with gift ideas and the financial burden of buying for everyone.

The gift giver remains secret and everyone gets a gift.

Enjoy the holidays without the regret of spending too much money by following these tips!