5 ways to save this holiday season
Let’s face it, holiday season is here. Everyone is bunkered down, the sky is getting darker quciker and we have less days ahead of us this year then we do more. I don’t know about you guys but my budget is all over the place. When it comes to my family, I want to give them the entire world but when it comes to my financial health, I can only afford just what a tenth of what the world is valued.
Listen, I know holiday season is hard and some of us don’t make it out alive (maybe I’m overreacting) so that’s why I compiled 5 different ways to save during the holiday season.
1. Create a Holiday Budget:
Set Spending Limits: Determine how much you can realistically afford to spend overall and on individual gifts. This helps me understand what I can spend on presents and what needs to be placed in savings
Track Expenses: Use a budgeting app, spreadsheet, or notebook to monitor your spending and ensure you stay within your limits. I personally use google sheets to develop and track my budget. it’s much so, a living document forever changing and the variable options spreadsheets have, it’s easy to plug in values and calculate sums.
2. Plan Ahead and Shop Early:
Make a List: Decide who you need to buy gifts for and jot down gift ideas for each person.I use notes and organize my list on my phone so it’s easily assessible
Shop Early Sales: Take advantage of early bird discounts, Black Friday deals, and Cyber Monday promotions. This helps avoid last-minute price hikes and impulse purchases. I use cook groups to find hidden gems and discounts. Cook groups are amazing for finding gems that you’ll normally wouldn’t see.
3. Get Creative with Gifts:
DIY Gifts: Consider making personalized gifts like baked goods, crafts, or framed photos. These often feel more meaningful and cost less than store-bought items. I always find simple ways to make a loved one smile. something as thoughtful as an DIY gift will surely make someone smile this holiday
Experiences over Things: Gift concert tickets, cooking classes, or a weekend getaway. Shared experiences create lasting memories. Having shared experiences with family seems to triumph some expensive gift that’ll get tossed in with last years gift. Memories last a lifetime, and we should cherish them more often!
4. Save on Holiday Meals and Entertaining:
Potluck Dinners: Host a potluck where everyone brings a dish to share, reducing your grocery bill and cooking time. This is great for those of us with big families and would like to see everyone during the holidays.
Limit Alcohol: Alcoholic beverages can be a significant expense. Offer a limited selection or encourage guests to bring their own. If you must drink, drink in moderation. When we are speaking about budgeting, we want to have fun but we also want to complete those goals we set for ourselves. Remember your budget when purchasing alcohol.
5. Reduce Everyday Expenses:
Cut Back on Non-Essentials: Temporarily reduce spending on dining out, entertainment, and subscription services to free up more money for holiday expenses. These things will get looked over anyway, especially if we’re spending time with family. Who has time for dining out when we are working up a apetit for Mom’s good cookin’!
Use Cash or Debit: Paying with cash or a debit card helps you stay accountable and avoid overspending on credit. Having extra cash on hand, helps not swiping your credit cards. I store my cards in a older wallet, so I’m not tempted to use more than what I want to spend.
Remember, the holidays are about spending time with loved ones, not about how much you spend. By planning and being mindful of your spending, you can enjoy a festive and financially responsible holiday season. I promise you, your loved ones will do fine without the extra clutter, anyway.
Author: Tajah J. Grady CEO/President of COD Enterprises
