Some people know how to manage their money wisely during Christmas, and as everyone knows, it can leave a huge dent in our bank accounts.
Christmas is all about sharing, so here are some tips for saving money on Christmas to help you do it on a budget.
- Keep your stomach full when you’re shopping
- Compare prices before you buy, especially now that there are many bargains.
- Christmas decorations and gifts can be found in charity shops
- Check out CEX or a cash converter for second-hand electronics.
- There’s a whole bunch of online perfume sellers selling perfume at a fraction of the price of department stores.
- Instead of doing a weekly shop, buy in bulk from places like Costco
- When you shop early, you’ll get really good deals. There are always bargains during Black Friday and January sales.
- Make your purchases using supermarket loyalty programs and vouchers.
- It’s better to go shopping without kids. You can make a list with them, but you should do it alone. You’re more likely to stick to a budget if you’re not picking expensive stuff.
- Even tell your kids Santa Claus can’t come because of Coronavirus!
Here are the best smart shopping tips
Make sure you shop with a list and a budget so that you do not overspend or buy things you do not need. Be sure you take note of these tips for saving money on Christmas.
The best gifts don’t have to cost a lot
- You’ll save money and help the environment by using old newspapers to wrap gifts.
- You can find a lot of bargains this time of year if you shop around and compare prices.
- Make your own “care packages”. Get a box, basket, or even a stocking. Paint it, add their name, and then fill it out with what they love. It could be chocolates, pajamas, a movie, or what they love to eat at Christmas.
- Make your gift set with cheaper, unboxed perfumes and a pretty box.
- You can make your lanterns by crocheting the string around the glass jars, hanging them up, and putting the lights inside.
- There’s no need to buy brand names, they don’t make you better.
Gift-giving tips that work
The best Christmas gift this year is being with your family instead of buying unnecessary things
Adding up small savings
- Use everything to make two meals: mincemeat makes Spaghetti Bolognese and Shepherd’s Pie if you add vegetables and beans. Then you can eat it with rice.
- To save time and reduce waste, cook big and freeze batches.
- Don’t forget to set aside a little daily; even $1-$2 adds up.
Throughout the year, save up your loose change. Any change in your pocket can be added to your savings account.”
It is easier to have a happier Christmas with healthy finances
- Make sure you give your kids what they need. Books and clothes aren’t bad, but your love and time mean the most.
- Take your wages and subtract all deductions. Whatever is left over is your budget. Spend it wisely.
- Avoid credit and buy what you can afford.
- Pay your bills first; it’ll make you feel better.
What is the best financial tip?
To ensure that your family has a prosperous new year, avoid debt and worry so they don’t have to worry about money.
Wishing you a happy holiday season!