The holidays are quickly approaching but that does not mean that you have to break the bank when it comes to your holiday gift buying. There are many ways that I have found to be able to save money during the holiday season and I am going to share a few with you today!
1. Make a Budget
It is never too late to start good habits when it comes to having a cap on your spending or even having a certain amount per person to spend on gifts. When you are making your budget make sure that you set a range that is both attainable and not too spartan. Also, as you are budgeting for gift giving, do not forget other expenses that can arise this holiday season such as parties, charitable expenses, travel, or other holiday activities. Make this budget early. Do not wait until the holiday season is knocking on your door!
2. Track Your Spending
As the holiday season is going along, keep track of your expenses. This allows you to see where the money is going and where you might be able to trim along the way. I tend to use a spreadsheet through Google Sheets to track this but there are other options as well. The biggest thing to remember is to stay on this and enter expenses as they occur and not wait until they pile up.
3. Cut Back on Extras
There are many ways that you can add on to the holiday season. All of the amazing holiday flavors that are available at your local coffee shop, holiday gifts for yourself, or other splurges can add up before you know it. By cutting back on these extras you will see a marked increase in your overall take home!
4. Examine Your Traditions
Look at the traditions that you have in your home. Do these include things that typically cost money? Do you go out for lavish meals? Do you go to certain locations that require admissions? Do you have to continue doing these traditions or can you consider finding lower cost traditions that could be incorporated and added to your routine? There are many activities that are free or low cost that could easily be turned into traditions including:
- Touring neighborhood Christmas lights
- Watching a movie with hot chocolate at home
- Seeing Santa at the mall
Quality time is what is most important, not how much you spend!
5. Get a Head Start
We tend to try and find deals throughout the year so that we are not paying top dollar on the items that our kids really want, and you can do this as well. Shop early when possible, this way you can take the time to price compare, not feeling panicked and buying the gift at the very first place you see it. This can also help you avoid holiday season markups on certain products or packages.