Christmas is a time of year to get together with friends and family. It’s also a time when we like to splurge on things like decorations, presents, and food. But if you want to have a great Christmas without breaking the bank, plenty of ways can be done! Here are six tips for spending and saving money during this festive season:
Decide how much you can afford to spend and stick to it
Decide how much you can afford to spend and stick to it. After you download your Christmas Budget Worksheet, you’ll be off to a great start!
There’s no need to spend more than you have, but don’t worry about what other people are spending or borrowing money from friends and family. If you’re not sure what your budget is, start by asking yourself these questions:
- What am I able to afford?
- What do I want my Christmas Eve dinner list to look like?
- How many guests will be attending over Christmas Day?
Could you make a list (and check it twice)?
- Create a list of all the people you need to buy gifts for.
- Make sure you’ve got everything covered on your list—and double-check the items that are supposed to be under $10 since those tend to be less expensive than other things on the list.
- If you have a budget, stick with it!
Make a Christmas budget plan and stick to it.
A budget plan is essential for every household, especially if you’re planning to spend time with loved ones. It’s also great to ensure you don’t overspend on things like gifts, dinners out, and other unnecessary expenses.
To set up your budget plan:
- Figure out how much money each family member spends each month (or week). For example, if one person has $100 per month in spending money, but another only has $20 per month, it would be best for them both to save up some extra cash before Christmas arrives so they can buy their presents instead of sharing with others.
- Think about what kind of gifts are appropriate based on age groups—for example: If someone is going through puberty right now, they might want something practical like clothes, while older children might prefer toys or books instead since those items have more educational value than others do today.”
Resist the urge to buy unnecessary things
Christmas is meant to be a time of joy, but it’s also an ideal opportunity to save money. The best way to do this is by resisting the urge to buy unnecessary things you don’t need or will only use once (and then forget).
Instead of shopping blindly at stores and online, research your options before making any purchases. This can help you spend less on items that are just for show or aren’t worth the money paid!
You can get everything in one go.
It’s a good idea to get everything in one go. You will save money on delivery costs and won’t be tempted to buy more. If you want something else, it’s not available until next year, so it’s too late!
If you have a gift voucher or credit card with points on them, they can be used towards any purchase simultaneously as buying things for yourself.
Take advantage of discounts in the lead-up to Christmas
People are more likely to buy things on impulse at Christmas, so taking advantage of discounts and sales is crucial. We’ve compiled a list of the best ways to do this in advance so you can save money without sacrificing quality.
- We suggest looking out for sales at your local department store or big-box store like Target. These stores often have great deals on everything from toys to decorations, as well as gift cards—so if you’re planning on buying something that requires an Amazon Prime subscription (which includes free two-day shipping), there’s no reason why you shouldn’t take advantage of these offers!
- If there isn’t any holiday shopping happening anywhere near where you live right now, don’t worry: There will undoubtedly be some sales soon!
Conclusion
Planning is a great way to save money on Christmas, but it can be simple. We hope these tips have helped you figure out how to get the Christmas experience without spending a dime! TetonPines Financial will help you plan for a debt-free holiday season. Call us today for a free consultation.