Getting your money into great shape !
10 Tips To Save At Christmas
Saving money at Christmas is a great way to avoid overspending during the holiday season while still enjoying the festivities. Here are 10 practical tips to help you save:
1. Set A Budget & Stick To It
Before the holiday season begins, set a realistic budget for gifts, decorations, food, and other expenses. There can be lots of extra entertaining happening in December so be realistic. Check your diary when planning so that you remember all the invites (work do’s, neighbourhood BBQs, teacher’s gifts etc). Track your spending as you go to avoid surprises and keep yourself accountable.
2. Make a Gift List & Plan Early
Create a list of everyone you need to buy gifts for and set a spending limit for each person. Planning early allows you to shop sales, look for discounts, and avoid impulse purchases. Last minute gift buying always leads to overspending and guilt buying.
3. DIY Gifts
Personalized handmade gifts often have more sentimental value than store-bought items and can be much cheaper. This is especially helpful if you are having a lean Christmas as some homemade goods, packaged nicely, can be a welcome gift for neighbours, teachers and friends. Consider baking cookies, crafting something unique, or writing heartfelt letters.
4. Remember the Sales
Take advantage of pre-Christmas sales, Black Friday is supposed to officially start on the 29th November but already I am seeing evidence of stores starting early. Shopping early can also help you avoid last-minute price hikes.
5. Secret Santa or Gift Exchanges
Instead of buying gifts for everyone, consider doing a Secret Santa or a gift exchange where each person only buys for one other. It’s a great way to reduce the number of gifts you need to purchase.
6. Set up a Christmas Club Fund
This is probably too late for this year but take notice of the amount that you spend this year and then decide to save that amount in readiness for next year. Simply take the total needed and divide it by the 12 months of the year and open that special account in January to commence saving the calculated monthly amount.
7. Limit Decorations & Focus on Quality
Instead of buying tons of new decorations every year, invest in a few quality pieces that you can reuse year after year. Consider making your own decorations or using items you already have.
8. Reduce Gift Costs with Group Gifts
For larger gifts, such as family presents or a big item someone really wants, consider pooling resources with friends or family to buy one collective gift rather than several individual ones.
9. Use Reward & Loyalty Programs
Make the most of any reward programs that you are part of to save you money. Many people have Flybuys but often forget to take advantage of their “Flybuy Dollars” – you can actually convert your Flybuys to dollars and buy some of your Christmas food with the money check out this link to find out more
10.Be Mindful of Food & Drinks
Plan your holiday meals carefully to avoid over-buying. Consider hosting a potluck-style gathering where guests bring a dish. Avoid excess spending on alcohol or fancy ingredients, and focus on simple, festive meals.
By planning ahead and being mindful of your spending, you can enjoy a more affordable and stress-free Christmas while still making lasting memories.
