During the holidays, one thing that you cannot avoid is to spend money to give gifts to your loved ones and to organize holiday parties. While everything mentioned above is great, for sure there is a part of you that wants to reduce even a bit of your expenses. This may sound impossible, but it is actually achievable.
Here are some tips to keep your holiday spending on budget:
1. Put value on your relationships.
If you plan to give gifts to your loved ones and friends, write all their names from the nearest and dearest down to your relatives. And when you are done, put a value on each name indicating how much you are willing to spend for their gifts. Doing so gives you a price limit and can help you stick to your budget.
2. Avoid last minute buying.
Rushing to a store for last minute purchases is a no-no since we tend to overspend, especially if we are running out of town. Avoid procrastinating when buying holiday gifts as this does not give you enough time to think clearly of the presents you should be buying for the people on your list.
3. Make gifts on your own.
If you plan to save money this holiday season, why don’t you make the gifts instead? DIY presents are often customized and they are very personal since the giver is also the maker of the gift. Whoever receives your gift would truly appreciate the effort and the amount of time that you have spent to create it.
4. Do price checks.
As you start buying things for the family, you have to compare prices before buying the items. There are a lot of stores that sell the same items for cheaper prices, so you should know where you should be going. Making price comparisons is very important.