When the sunlight hours of the days start getting shorter and the temperatures become colder holiday season is looming. Chilly nights, falling snow, crisp air, wood burning fires, pumpkin pie and apple spice aroma get into our veins and we get our engines revving for baking, cooking and shopping. Halloween, Thanksgiving and Christmas are fun, exciting and enriching holidays but they don’t have to financially overwhelm you. You don’t have to overspend to enjoy the wonderful holiday season.
Here are some tips to help you financially navigate the season.
- Plan ahead – Spend some time writing down anticipated plans, activities and gift lists.
- Remember the little things – Don’t forget holiday parties, work gift exchanges, any extra tips you hand out, holiday meals, travel expenses, decorations, and, of course, all the people you plan on buying gifts.
- You have to look at the numbers – Budgeting is an ugly word for most people, but you have to find a budgeting strategy that works for you. Estimate the costs of the events and WRITE THEM DOWN!
- Be creative – Most people forget most of the gifts they receive within a few months. They remember how you treat them and your kindness and compassion for them. Homemade gifts are not outdated; there are more options and ideas than ever before. Do a quick interned search for “thrift store craft ideas” and you will quickly have several fun, easy and inexpensive ideas. Used clothing and stuffed animals can be laundered and fluffed up beautifully. Children’s toys can be sterilized in the dishwasher, boxed and wrapped nicely. Thrift stores also have holiday decorations, candles, glass jars, serving plates and gift tins.
- Shop defensively – The retailers have put a lot of time and money into persuading you to spend, spend, spend. Their success for the year is dependent on holiday sales. They are on the offensive with holiday decorations and smells to overwhelm your senses and encourage you to give them your money. They provide samples, have special promotions, line the aisles with impulse purchase items. Impulse items are those you didn’t plan to purchase and don’t need, but impulsively buy because it seemed like a good idea at the time.
- Money doesn’t buy love – Yes, money buys decorations, food and presents. And you need a holiday budget for those items. But, how many times have you gone to a party and seen too much food. Most people overspend and overcook thinking it will make the experience better. We don’t need to overspend or overstuff ourselves. Make pigs in a blanket and purchase less of the expensive meats. You will be surprised how excited your guests will be with the simple and inexpensive option. Use moderation with purchases and focus more on the people and experiences.
What are some ideas you have to spend less money this holiday season?
Photo by Joanna Kosinska on Unsplash