With the economy slowly re-bounding, the holidays can be a stressful time of year for those struggling financially. There are some easy ways that you can cut down on your holiday expenses without your family feeling the tightening of the purse strings. After all, you want to create memories you will cherish forever, and fortunately, memories don’t cost a thing!
5. Start shopping now
Start making lists of what you are going to buy now, and keep your eyes out for sales on those items. Not only can you save some money by purchasing things on sale, but you will be spreading your holiday spending out over several months so your budget won’t feel it so hard in December.
4. Use the Internet
Driving all over town to find the best deal isn’t necessarily a deal. You waste time and valuable (and expensive) gasoline looking for a savings of a dollar. Instead use sites like amazon and Froogle to order your gifts. Around the holidays many sites also offer free shipping which saves money too!
3. Use a cash-back or rewards credit card
Now of course if you don’t immediately pay off the credit card you aren’t actually saving the money because you will be paying interest. So instead of writing checks or paying cash, let the money build up in your checking account, use a credit card to purchase the gifts and immediately pay it off. If you are following step 5, hopefully your rewards will come in time for you to finish up any last minute Christmas shopping.
2. Look for deals at discount stores such as Big Lots and TJ Maxx
These stores carry name-brand things and often times have hit toys and fashion items. Sure you won’t find this year’s HOT toy there, but if they want something that’s been around for a while you can usually find it at a store such as this with a good discount.
1. Change the way you exchange gifts
As I’ve grown up all of the adults in my family have continued to exchange gifts. So I end up spending $25 on everyone buying them something they dont’ really want, and then in exchange I get back $25 worth of stuff I don’t really want. It’s nice to exchange gifts with my loved ones but I’ve often thought it’s a bit of a weird situation. This year we plan to all draw a name, and that’s who we buy a present for. Instead of going out and spending $25 on something they don’t’ really want I can talk to the person who’s name I drew, get a good idea for some things actually on their list and maybe spend $50 on a really good credit. Since I won’t be buying for the other 8 people I’m still saving $175 and people will get gifts they actually enjoy.
The holidays can be a stressful time for people on a strict budget, but with a few shortcuts here and there you can save some money and still have an amazing holiday season with your family!
Cheryl Smith is a health and family blogger with a particular interest in saving money. She is also a contributing writer for Policy Expert, a site which offers families the protection they need.