WELCOME TO THE IT'$ MY MONEY
This post may contain affiliate links which may compensate us based on your interaction at no cost to you. Please read the disclosures for more information
It’s that time of year! It’s time to start mapping out your spending for the holiday months. It’s so easy to overspend on dinners and shopping around Christmas time, but this isn’t healthy for your budget.
The holidays are a special time of year for sharing good cheer, great food, and generous gifts with the ones we love. Sometimes that generosity can do some damage your wallet.
Before you map out your Black Friday and Cyber Monday shopping, or you plan for your meals and for your travel, consider these 5 tips to save money this holiday season.
1. Create a Holiday Budget or Spending Plan
A budget doesn’t have to dampen your holiday joy or make you too stingy. No matter how big or small your holiday spending budget, ensure it is realistic and allows room for your to have fun with family and friends. Also, you can comparison shop around to find the best prices for the things you want to buy.
If you need more tips to save money on travel and food, you can check out the tips in my Thanksgiving post.
2. Make a Shopping List
Shopping for the ones you love can lead to overspending. All of the sales will exciting and tempting - trust me I know! To help you avoid going over budget make yourself a shopping list. On your list include the individuals you plan to shop for and a budget for each person. This budget and list will also help you narrow down the gifts options.
If you had a specific or expensive gift in mind for someone special, you can actually get very detailed with your list and even add the planned gift to the list so you know what you expect to spend and there isn’t room to go over budget.
3. Start Your Shopping Early
Don’t miss out on savings by waiting until the last minute to do your shopping. Starting early will help you stick to your shopping list and allow you to shop around for the best deal and not pick up what is left since you started late. If you get your gifts last minute you might not get what you wanted and end up with something even more expensive!
4. Use Your Unused Gift Cards
Check your wallet and around your house to see if you have unused gift cards or ones with small balances. You would be surprised how this can help you fund your holiday shopping
For example, a few gift cards with just a small balance on each at a place like Starbucks may be enough to get a gift from Starbucks for a boss or coworker.
5. Try Out Some Unconventional Gifts
You can save money over the holidays by giving out some less conventional gifts. Try printing a photo of you and your best friend, child, parent, spouse then get a frame from the local dollar store.
Another fun idea is to make a wall or desk calendar with pictures of the family for each month for a family member you don’t see often so they can see you every day. These can be accompanied by a heartfelt letter or message to make them even more special.
To help you save money this holiday check out some of my freebies on my resource page! There are budget sheets you can use to help you save money this Christmas.
Making your money stretch during the holidays comes down to preparation. Set a budget for yourself this year and get started early so you can avoid excessive spending and bring in the New Year financially stress free.
For more helpful tips on making your money work better for you, Sign up for the It’$ My Money™ Newsletter.
Leave a Reply.
Write something about yourself. No need to be fancy, just an overview.