Christmas is one of the happiest and most wonderful times of the year; however, it can also be one of the most expensive. Each year Americans spend nearly thousands of dollars on gifts and holiday items. Moreover, facing stress from college and everyday life, you should feel relaxed about Christmas and Christmas spending, particularly this year. Instead of worrying about going into debt over Grandma’s Christmas present, this holiday should be about spending time with those you love. Keep costs and stress down this winter with these tips that can help you save money.
- Review Finances
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Usually, our first instinct when it comes to holiday shopping is to start with a budget. Before making any holiday-related purchasing decisions, take a minute to look over your finances. Look at how much you are spending and saving. Understanding your overall financial well-being is a great habit to develop and will help you be realistic about how much to spend this holiday season.
- Plan & Budget
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Creating a budget is a great way to help you set a limit for how much you want to spend and stick to it. Use tools like budget planners and gift trackers to help plan your spending. Knowing what you need and how much it will cost will help you decrease financial stress this holiday season.
- Track Spending
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One of the most important things about a budget is sticking to it. Many people get caught up in the holiday spirit and forget to check their budget. That’s why once you set a budget, it’s important to keep track of your spending. By keeping track of your spending well, you will lessen the chances of overspending. Whether it is by using a notebook or an app, choose a system that best fits you. Side note, leave a little wiggle room for one or two extra gifts in the budget just in case something pops up.
- Go Incognito
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Did you know that using a private browsing option could save you money? When shopping online, the cookies saved on your device let retailers know what products you have looked at previously and allow them to raise their prices. Using private internet browsing modes like Incognito Mode and InPrivate prevent retailers from being able to do this.
- Shop Secondhand
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Buying someone a secondhand present used to have a bad reputation, but not anymore. The holiday season can sometimes feel consumerism-heavy, but shopping secondhand is more sustainable and frugal. Also, you can find some pretty good treasures. Check out your local thrift stores or shop second-hand online.
- Make Presents
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Want to give a gift that’s personal and memorable, but doesn’t break the bank? Try making one! There are so many DIY ideas on Pinterest and YouTube for easy gifts to make for your family and friends. If you aren’t super crafty, try breaking out your baking skills or putting together a gift basket.
There you have it! There is no need to be breaking the bank this holiday season. Just remember, the best gifts come from the heart, and sometimes all that means is just spending time with the ones you love.