Believe it or not, Thanksgiving is already next week, and before you know it, Christmas will be upon us. It’s time to start getting the house ready for family get togethers, putting food and drinks to host, or attending other parties where you still need to spend a little to make a dish to pass, on the credit card. That is not even including Christmas gatherings and showers, which can kill your bank account. While it’s always better to start as early as you can, I realize that may not be possible since the holidays are already around the corner, but there may be other ways you can look to save money too.
Set a Spending Allowance
Those who stay on top of the household finances typically keep a budget that they follow, so why not take it a step further and allocate funds out for holiday spending. At least that way, when it’s gone, that’s it. Without going overboard, take inventory of how many people you need to buy for, what food and drinks, and if you are hosting or not, so you can set a realistic spending allowance. Remember, it’s the thought that counts.
Compare Prices
It used to be that whenever we compared prices, we’d have to drive around town going from store to store to see what the they are charging, but the beauty of online shopping is that you can go from website to website in the matter of seconds, so there is no reason to purchase an item without getting the best deal possible, and you have an endless supply at your disposal. Sales are extremely popular this time of year, so take advantage of the sales, and it may even be a good time to purchase items that you need around the house. While that may be adding to your immediate budget, but over time it could save you money.
Cut Back in Other Areas
With the extra expenses of the holidays approaching you may wonder how you are going to afford this when you are barely making ends meet now, but in order to free up extra money you will just have to cut back in other areas. Taking eating out for example, whether that is grabbing coffee in the morning, stopping for lunch, or taking the household out to dinner, those costs will add up pretty quickly. If you can go grocery shopping and prepare and eat meals at home, you should be saving hundreds of dollars a month. While that would be nice if you could do that every month to free up money, but it will be extremely helpful this time of the year.
Know When to Stop
Sure, we loved to spoil our loved ones, but if you can’t afford it, you can’t afford it. There is no reason to break the bank and go overboard. Buy what you can afford this year, and just start saving earlier next year so that you can have an even bigger budget to share the gift of giving around the holidays.