Saving money around the holidays by planning ahead
As joyous as the holidays are they can unfortunately be a time of great financial stress for many people. If you find yourself dreading the holidays and the strain they put on your wallet now may be the time to make a plan. There are several strategies that you can take ahead of time to reduce financial stress and give you a more joyful and happy holiday with your family and friends. And wouldn't that be the best gift of all? The biggest thing is start early so here are some ways to go about saving money around the holidays by planning ahead:
Make an overall plan. Now is the time long before the holiday season begins to sit down and go over the last holiday season. Ask yourself the following questions-How much did I spend overall? Are there things I am willing to cut out or at least decrease my spending on? What do I want to do differently or what must remain the same? Once you have an idea of what you want to do financially for the holidays and how much you will realistically need you can then begin to plan how to decrease the financial stress and strain.
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Save the amount you need. If after reviewing your plan you determine that you do not want to make changes to how much you spend then now is the time to begin saving. Break up the total dollar amount you want to spend during the holidays and begin working on saving that amount in smaller increments. While it may require pinching pennies now remind yourself that once the holidays arrive you will have free rein to spend your hard saved money without feeling guilty. Also take advantage of tax returns, bonuses or any other large amounts of money you receive by taking out a portion and putting it away for the holidays.
Shop off-season. Financially frugal shoppers tout the advantages of shopping off season. If you want to save money make your holiday list now and begin carrying it with you wherever you go. You just might be surprised that you find the perfect gift for Aunt Flo in March at considerable savings and the toy your little darling wants in the clearance bin in August. Shopping off-season can save you considerable dollars and help you get ahead before the holiday season arrives. Also don't hesitate to check out thrift stores, consignment shops and other discounters for bargains when they are not filled with other holiday shoppers.
Get creative with your gift giving. If you really want to save money then consider making some of your gifts this year. Your gift recipients will be thrilled to receive something from you that is personal and made just for them. By planning ahead you can determine who you can make a gift for in a reasonable amount of time and not be left with a pile of craft projects to do at the first of December. In addition if you find yourself giving gifts to co-workers, friends, neighbors etc that you really can't afford then consider making a "gift pact". Approach your friends or co-workers about a price limit on gifts or eliminating gifts altogether. Consider going as a group to lunch or dinner with everyone picking up their own tab as a fun way to spend time together without the added expense of gifts. Many co-workers and groups of friends are even foregoing gifts altogether to donate to a favorite charity or even spend time doing volunteer work. While you may think you will look cheap by bringing this up your co-workers and friends will be secretly thanking you for helping relieve their financial stress as well.
