5 Tips to Save Money This Christmas
Christmas always brings with it a certain warmth and cheer, and yet these days, a lot of people are feeling the pinch financially. As Christmas approaches, people consider all the items they need to buy for friends and family. Because of the current economic climate, many people now have less money to spend on the gifts they’re used to giving.
However, if you think about the true spirit of Christmas, you shouldn’t even worry at all. Christmas is a day meant to commemorate Jesus’s birth. It’s also a time to reflect on life, cherish relationships with family and friends, and show gratitude.
This is not to imply that Christmas should not involve giving gifts, decorating your home, and celebrating. All these things help make the holidays enjoyable. Here are some tips to help you save money this Christmas.
1. Budget for everything and commit to it
Planning is key to budgeting, whether it’s for Christmas or every day. Know exactly what you can and can’t afford, so allocate what’s reasonable for gifts, Christmas dinner, etc. As much as possible, avoid getting into debt by insisting on doing what you’ve always done every Christmas: overspending.
2. Send personalised messages instead of gifts
A personalised message or Christmas card can often mean more to someone than a store-bought present since it demonstrates how much thought you put into writing them.
In this age of e-greetings and SMS, sending a Christmas message or card can also mean so much to the recipient. If you can, buy cards in bulk to get even bigger discounts. Just make sure you add a personalised note to each card by hand.
3. Limit gift-giving to the little ones
If you’re used to giving everyone in the family Christmas presents, start a new tradition this year by limiting it to the children in the family. You can hardly be faulted for not giving everyone gifts whilst you keep the kids happy. And what’s family for, right?
4. Have a Kris Kringle or exchange gifts
Rather than purchasing gifts for your entire family or all your friends, opt to hold a Kris Kringle or Secret Santa where everyone can take part. This way, all you need to do is pick one name at random and adopt that person as your Secret Santa. You can then focus your energy and budget on getting that one person a gift instead of worrying about how much you’ll have to spend on gifts for so many people.
5. Reduce, reuse and recycle
You can reduce your holiday spending by making a conscious choice to reduce spending where you can. For example, instead of buying gift wrapping paper, use old newspapers or paper bags and just tape them up or tie them with ribbons or jute. After all, it’s what’s inside that matters.
Also, there’s no need to have new Christmas décor every year. Feel free to reuse last year’s and have a festive-looking home.
Christmas is not about who spends and gives the most. It’s a season for love, gratitude, and genuine happiness.
Save yourself some money and keep the spirit of the season alive by following the above tips.
If this article has inspired you to think about your own unique situation and, more importantly, what you and your family are going through right now, please contact your advice professional.