With Christmas just around the corner, most of us are gearing up for one of the most expensive seasons of the year. The cost of the festive period can quickly add up – on top of making your home all cozy with festive decorations and Christmas ornaments, there are parties to throw and attend, food and drinks to buy, and of course, money to spend on all the gifts you’re planning to get for your near and dear ones. If like most Americans, you find yourself spending hundreds of dollars on Christmas each year and starting the new year on a tight budget to make up for it, this post is for you. Here are some of the best ways to cut the cost of the holiday season while still having a great time.
#1. Check for Cheaper Gifts:
Did you know that many stores will bump up their prices around the festive season? Instead of hitting the high-street names that we know and love, it might be worth doing a little bit of extra searching for Christmas gifts to improve your chance of bagging a discount. Check out online outlet stores – you can buy discount cosmetics at Maple Prime that make excellent Christmas gifts or do your shopping with independent retailers to get some special, unique gifts and bulk ornaments while supporting the local economy at the same time.
#2. Track Your Spending:
Bear in mind that even looking for cheaper gifts won’t be much good if you’re not sticking to a strict budget and tracking your spending. It might not be the most fun thing to do over the festive period, but you’ll definitely be thankful that you did. First, determine how much money you have to spend on Christmas and allocate the money to different things – for example, how much you plan to spend on gifts for each person you’re buying for, how much on food, and how much on entertainment. You might also find it useful to keep your funds in a different account, use cash, or have a pre-paid card so that you can keep it separate from funds that you use for day-to-day expenses.
#3. Cut Back on Extras:
Christmas is certainly a time to indulge yourself a little bit, but be careful when it comes to splurging on festive extras. You might not think much of treating yourself to a gingerbread latte for $4.50 at the time, but if you do this a couple of times a week throughout December, you’ll end up spending over $100. So, before you treat yourself this Christmas, take a step back and ask yourself if it’s really worth the price.
#4. Make Your Own:
Finally, when it comes to decorations, gifts and so much more, you can save a lot of money and have some fun by making your own. If you have children, spending some time making your own Christmas decorations can be a lovely bonding exercise, fun for all the family and a unique way to decorate your house ready for the big day. And, don’t forget about DIY gift ideas, too – if your gift budget is low, this is a great way to come up with thoughtful, special presents.
How much do you plan to spend this festive season?