We're sure you've heard the saying "the holidays are a time for giving." But what if we told you that they're also a great time to save some serious money? It's true! If you think about it, the holiday season is all about family, friends and spending quality time together. But it can also be expensive. Between travel costs, gift purchases and eating out at restaurants (it's tradition!), your wallet might be feeling some pressure after Nov. 1 rolls around. Luckily, there are plenty of ways to have your cake and eat it too when planning for this special time of year: from taking advantage of deals before Black Friday hits to finding ways to save on gifts that will last forever
To start, you'll need to create a budget. If you're using a spreadsheet or an app like Mooch or Mint, this is easy enough to do. Just set up columns for each month of the year and add in all of your regular expenses like rent/mortgage payments, utilities bills and groceries. Then add another column at the bottom where you can list any additional money coming in during those months that might affect your holiday budgeting--such as tax refunds or birthday gifts from family members who give them on their birthdays instead of Christmas Day (or whatever day they celebrate).
Once that's done, use these numbers as guidelines when creating future budgets:
One of the best ways to save money this holiday season is by giving gifts that will last a lifetime. If you give someone an item that they will have forever, then it's less likely that they'll lose interest in it or break the gift. For example: if you give someone a book about their favorite hobby or passion, there's no chance of them ever forgetting about it because reading is something we all do every day!
If you want a practical gift but aren't sure what kind of things would work best for your recipient(s), think about what activities they enjoy doing most often and look for something related to those activities--this can include anything from hiking gear (e.g., boots) or art supplies (e.g., paints). Just make sure whatever item(s) are right for everyone involved!
Credit cards are not the best way to shop. They can be dangerous if you don't pay off your balance every month, or if you don't have a plan for what you will buy with the card.
You should use cash instead of credit cards at the mall because it helps keep track of how much money is being spent and makes sure that you're not going over budget on holiday gifts or decorations.
Plan your travel wisely. The holiday season is one of the busiest times of the year for airlines, hotels and trains. If you're going to be traveling during this time, plan ahead and book your flights and hotel accommodation well in advance--the earlier the better! If possible, look into package deals that include airfare and accommodations together (they may cost more but they'll save you money). Booking last minute flights can sometimes cost a lot more than booking them early on so try to avoid doing so unless absolutely necessary.
If you want to save money this holiday season, consider buying used or refurbished products.
If you can afford it, avoid the Black Friday madness altogether. It's crowded and you'll probably miss out on some of the best deals. Instead, shop online during Cyber Monday or wait until after Christmas when everything is discounted even further to save more money!
Budgeting for holidays can be tricky, especially when you don't have too much time left before the big day arrives!
You've probably been thinking about how to save money for holiday spending and how to budget for holidays. If so, you're in luck because we're going to share some tips with you on how to save money during this festive season.
Hopefully, these tips will help you get through the holidays without spending too much money or stressing out over unexpected expenses. You may even find yourself with some extra cash left over at the end of it all!