Are you someone that’s trying to save money over Christmas, being one of the most expensive seasons of the year?
If so, you are definitely not alone! Christmas is a great time of year, but it can also be a time of a lot of financial stress for many.
Throughout the lunches and the gift giving and all of the family members that you at least have to send a card to, it can all become a little overwhelming.
This is why it is great to have some tips behind you for saving money over Christmas so that your finances don’t slip.
Christmas is a happy time of year which is important, but so is your financial future!
This article will discuss various ways that you can go about saving a little extra cash over the holiday season while still enjoying the joyous time of year.
Save Money Over Christmas with a Budget
The first step towards saving save money over Christmas is by creating a budget to make sure you are not spending beyond your means.
Budgeting is important all year round but may be particularly necessary during Christmas due to the extra expenses.
To engage in a budget, you should sort your expenses into categories such as Christmas gifts, savings, and bills, and set spending limits on each of the categories.
This can help you to make sure that you are spending appropriately to keep yourself going throughout Christmas.
You must stick to this budget in order for it to be effective for you. That means that, depending on your spending limits, you may need to cut down on the number of gifts you are buying to save money.
Although the feeling of giving a gift is great, breaking down your finances for the sake of gift-giving is simply not worth the potential effects it can create!
Save Money Over Christmas by Cutting Down Expenses
Another way that you can save money over the Christmas holidays is by cutting down on external expenses.
Most people will spend money over a day that doesn’t necessarily need to be spent.
Whether it be a morning coffee (or two) or a takeaway meal, all of the costs do add up and take your hard earnt money!
During the Christmas season, consider cutting down on these unnecessary costs to make sure you can pay your way through the holidays.
Australians spend a lot on the holidays. Cutting down costs is a way to at least partially compensate for all the money lost to Christmas!
It is important to remember that you also don’t have to spend a lot on Christmas.
You don’t have to feel bad for not wanting to spend an arm and a leg on the one day.
Whatever you choose, don’t feel pressured to spend beyond your limits and break the bank for Christmas; an expensive Christmas isn’t for everyone.
Save Money Over Christmas by Shopping Around
Another way to save some extra money over the holidays is by shopping around for all of your Christmas essentials.
As you are likely well aware, there are a lot of things that you need to buy if you wish to celebrate Christmas as many others do.
Between Christmas lunch and the gifts, you need to get, there are a lot of items that need to be paid for!
For this reason, it is wise to shop around for the essentials and not simply buy the first version of the item you see.
Although saving something small such as $2 may not seem like a lot now, saving this amount on each item you buy can add up significantly and make a large impact on your budget and the little extra things that you may now be able to afford.
Shop for Multiple People at Once
Another method to help you save money over the Christmas season is by shopping for gifts for multiple people at once.
This tip is especially relevant online but can apply to in-person shops also. When shopping for gifts, some businesses may offer deals depending on how much money you spend or how many products you buy.
It is wise to take advantage of such deals to save money on gifts over Christmas.
For example, an online shop may offer free postage if you spend over a certain amount of money or a “2 for the price of 1” deal on a certain product.
This can save you a lot of money over the season as reduced shipping or product costs can be used elsewhere or saved.
Save Money Over Christmas by Increasing your Income
Another way that you can save money over Christmas is by increasing your income to balance out the money coming out of your finances.
This strategy may seem a little difficult, but there are various relatively simple things you can do to do so.
For example, dedicate a couple of hours to go through your home and find some belongings of yours that you no longer have any use for.
In doing this, you can sell all of these items to make some extra cash in a fun little garage sale.
This may be a real goldmine depending on what you have to sell! Furthermore, there are several rides share apps that allow you to sign up and after a relatively simple process, become a driver.
You can do this through apps such as Uber or Lyft and fill up some of your spare time driving people to their destinations for some extra income.
Gift Meaning Over Expense
Another way to save some money over Christmas is by focusing your gifts more on meaning than an expense.
Everyone loves a gift that has a little personal touch to it. Something that they can see is specifically about them and picked out for their personality and interests.
This Christmas, consider prioritising this element of a gift over how much it may cost.
You may consider a homemade gift or something that you know will mean a lot to the person.
Save Money Over Christmas – Key Takeaways
Christmas is an expensive time of year.
It can really come in handy to have some tactics behind you to make it less overwhelming for all involved.
Consider taking some of these tips into account when Christmas shopping, they can save you a lot of money and prevent the fallout from Christmas where you have to build back up your finances!
Remember to enjoy the holiday, however, and let yourself breathe a little. Happy Christmas!