Kerryn Boogaard Kerryn Boogaard
Beverly Goldsmith Beverly Goldsmith
Zoe Bingley-Pullin Zoe Bingley-Pullin

11 Useful Tips to Cut-Down Expenses During the Holidays:

Spend a little less during the holidays with these tips.
By Expert Tips
Date: November 13 2020
Editor Rating:
415 x 315

With Christmas and New Year’s Day just a month away, it’s finally time to bid farewell to this arduous year. After all, we all deserve to treat ourselves and indulge a bit. Whether you go all out for gifts or parties, your expenses are bound to increase in these upcoming months. Are you dreading the expenses of the holiday season?

Lucky for you, we can help you keep holiday spending in check with our useful tips. Carry on reading.

1. Start with a Budget

Before you start shopping for gifts or anything holiday-related, come up with a realistic budget. Decide a total amount you can comfortably spend without burning a hole in your savings or driving yourself into debt. The holiday season is the time to sit back and enjoy with your loved ones. Don’t let the stress of overspending taint this wonderful time.

2. Make a Gift List and Stick to It

You are not obligated to give a gift to everyone who buys you a present. This mindset will just make you stressed. Instead, make a list of all the people you want to buy a present for. Do this a couple of months before and make sure you stick to it.

3. Set a Price Limit

We understand that your love or fondness for someone cannot be easily expressed in monetary terms. But it’s crucial to set a price limit for every gift you’re going to purchase. Otherwise, you’ll end up blowing through your savings. Also, decide how much you can spend on holiday decorations, food, alcohol and so on. All these things add up.

4. Shop Early

Every holiday gift guide out there suggests shoppers to avoid leaving gift shopping to the last minute. Not only will you be stressed, but you might also end up paying more for things just because you’re in a rush. Avoid paying extra for fast shipping and start shopping as soon as you can.

5. DIY Gifts

If you’re on an extremely tight budget, you can still treat your loved ones with homemade gifts. From baked treats to handcrafted decorations, it’s absolutely possible to give personalised gifts without breaking the bank. DIY gifts may not be the fanciest, but they hold incomparable sentimental value.

6. Switch Energy Plans

Your energy bills will inevitably rise, thanks to all the twinkling lights wrapped around your house. You’ll also be spending more time indoors, which will drive up the heating costs. This is a great time to compare electricity providers and switch to a better-suited energy plan. Check out Red Energy reviews for competitively-priced energy plans.

7. Resist Sales

Holiday sales are cleverly marketed to encourage shoppers to spend on things they don’t really need. It’s a good idea to shop during sales to make the most of discounted prices. But don’t buy things just because there is a sale. Always shop with a well-throughout shopping list!

8. Don’t Go Overboard with Credit Cards

Credit cards have made it incredibly convenient to spend money. But that doesn't mean you should max out your credit card thinking you can pay it later. Understand how much you can afford to spend and adhere to it. 

9. Use Online Tools to Track Prices

Several apps and extensions offer free services for tracking prices and also alert you about price drops. Use such online tools to find gifts and other holiday items at discounted prices.

10. Everyone Loves Gift Cards

In case you’re working with limited funds, gift cards are extremely useful as well as an affordable option. You can give an Amazon gift card or a gift card of your loved one’s favourite store.

11. Suggest Holiday Gift Exchange Games

Instead of buying a gift for your entire team at work or the whole family, you can suggest holiday gift exchange games. Games like Secret Santa and White Elephant are a lot of fun and you only have to buy one gift!

The Bottom Line

You have to think out of the box and plan ahead if you want to avoid unnecessary spending during the holidays. Hopefully, our tips help you stick to a budget and make your Christmas truly merry.

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