When it comes to the holidays, your finances can definitely take a hit. In order to avoid becoming stressed from the financial obligations of the holiday season, some planning and budgeting is required! While it can seem like you have to deplete your bank account every holiday season, there are ways to keep your loved ones happy with gifts that don’t break the bank.
Make Your Holiday List
What can be helpful, is to start a shopping list before the holidays start. Plan out what you wish to gift and to whom. Next to their name, write down possible gift ideas or shops they like. Also make a note of how much you plan on spending for each person. Doing this for everyone can help give you an idea of how much holiday gifts will cost you, and how much money you will need to save ahead of time.
Shop for Bargains
Once you have an idea of what you’re looking for, finding bargains can be less of a challenge. Holiday shopping may also be improved if you wait for the sales, such as black Friday or Cyber Monday. Waiting can be the easiest way to save money this holiday season! If you are purchasing items from the same store or retailer, it can be helpful to save on shipping costs by ordering gifts together.
Another way to shop for bargains is to use discount shopping websites, such as Groupon or Brad’s Deals. The best way to shop for bargains is through using coupons or scanning items through the store app.
Some stores will match competitor prices or coupons, which is something to keep in mind when you are purchasing items such as electronics.
Make a Game Plan
Since you know ahead of time that you will be spending in excess for the holidays, it’s financially helpful to have a game plan ahead of time. This can mean cutting back on any extra spending throughout the month and making sure you have enough to cover all the necessities. You’ll need to include other expenses into your budget, such as greeting cards, shipping costs, and travel expenses.
Curb Impulse Shopping
While it can be tempting to go overboard during the holidays, it’s important to make sure you aren’t spending outside of your means. That Apple gift won’t seem so appealing if you are going to be financially struggling in January.
Be sure to stick to the budget and limit set by yourself before you started buying items. It can be helpful to take out the cash you plan on spending and limit yourself to spending just that set amount of money.
Get Some Extra Cash for the Holidays
If you find that you still can’t make ends meet throughout the month, you might want to consider other avenues.
Some popular ways to earn extra income include:
- Getting a Weekend Job Waiting Tables
- Getting a Title Loan
- Selling Extra Clothes or Household Items
- Becoming an Uber or Lyft Driver
- Trading in Old Electronics for Cash
- Becoming a Dog Walker or Dog Sitter
- Babysitting on Weekends
- Picking Up Freelance Work Online
- Renting Out Your Car