5 Ways To Save Money This Holiday Season
The holiday season can be the most expensive time of the year. Many retailers earn their annual revenue within the span of 2 months. This can be a joyous time. However it can be a drain on your wallet if you are still paying for Christmas in June. The average American spends more than $900 during the holiday season. This doesn’t include money spent on travel or expenses incurred during Thanksgiving. Here are a few ways to save money this holiday season.
Focus On The Family
Gifts for friends and associates is ok. The holiday season is an important time for children. Save money by focusing on the kids instead of every adult in your life. There are affordable gifts depending on where you live. If you use your credit card often you have amassed enough points to spend on gifts this year.
Set A Budget
Recently an Australian mother spent over $2000 on Christmas gifts for her 3 kids. Imagine if she had 3x as many kids that would be over $6000 for the holiday season. Shopping without a budget is a recipe for disaster, whether it’s for holiday gifts or your Thanksgiving dinner. Have a set amount you pay to spend on gifts. Next write a list of everyone you want to give a gift to. Say the set amount is $800 and you have 10 people on your list. So now you can budget your spending to $80 per gift and spread payments on your credit card. Remember you are also spending money on wrapping paper,events,food,and other expenses.
Reduce Home Expenses
Home maintenance is not what most people think about during Christmas time but this alone can save you thousands. Start by having a home maintenance checklist. Lower the temperature on your hot water heater to 120 degrees. Replace air filters. And insulate your home. This will lower the cost of your home maintenance costs.
During the holiday season people and organizations are more giving. In some malls there is free gift wrapping . If you have a large family with many adults . Instead of buying a gift for everyone just do secret Santa and exchange names. Not only are you saving money but it can be exciting to get a gift and guess who is from.
Take Advantage Of Sales
Take advantage of Black Friday sales. It may be too late for that. Online e-commerce sites like eBay and Facebook marketplace often have lower prices than their brick and mortar counterparts.