Tips to save money on holidays

Tips to save money on holidays

Holiday budgets are tighter this year in most of households. But it doesn’t mean this holiday season has to be short on cheer. Holidays are all about good times shared with the loved ones and less about abundance. So in that spirit, let’s look at ways to save money during holidays.

Holiday budget

To satisfy both – good share and wallet, try to:

  • Set up a holiday budget – <link> understand what your income is and what your household expenses are and decide how much money you can spend on holidays this year in total, food and gifts included!
  • Stick to the budget – make a list of things that you really have to get. Other things, even if great bargains, shouldn’t be on your final receipt!
  • Pay cash – there is always a temptation with holidays discounts and promotions that wouldn’t let you stick to the budget…. So leave your credit card home. You will make sure in this way that you will not overspend.

Shop sales

Retailers are going crazy during this holiday season: they want to sell, sell, sell, so they are giving discounts and coupons on almost everything. You can get great deals so look up online and in your local newspapers and enjoy the taste of saving!

Secret Santa drawing

Instead of spending thousands on many gifts, make the Secret Santa drawing with other adults and buy only one gift! Set a spending limit and enjoy the holiday saving!

Share the cost of the meal

Receiving extended number of family members? Ask everyone to bring a dish. It will lower your spending, let everyone feel they are contributing and give you more time to enjoy your guests.

Make your own decorations

Instead of spending thousands on Christmas decoration, create homemade ornaments from cookies and color paper. And since Christmas is all about family time, get everyone together to make them. You can store your holiday decorations for next year.

Travel smart

Family members travel from one side of the country to another to get together for the holidays. Holiday travel is expensive so try to purchase your tickets smart: get them when promotions are available. You can sign up for airfare alerts at traveling sites like TripAdvisor, Expedia and Travelocity and you will automatically receive email alerts on ticket bargains.

Shop smart for the tree

The markup on Christmas tree prices is so significant, so try to avoid overpaying and get the tree either right before Christmas or visit a tree farm to cut your own Christmas tree and save on retailers markups.

Save energy

Energy costs tend to be higher during holiday season because of Christmas lighting inside and outside. Skipping the outdoor lights and limiting the usage of the inside lights might cut your energy consumption by about $100 this holiday season. You may consider switching to LED lights to save even more.

Plan now for next year

Once the holiday season is over, stores discount their seasonal merchandise: holiday-themed gifts, gift wrap, decorations, dishes and cards. So plan carefully to buy for the next year and stock it all up. Next year, you can congratulate yourself on being smart. And with less shopping to do, you’ll have more time to relax and enjoy the season.

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