5 Tips to Save Money for Christmas

5 Tips to Save Money for Christmas

The holidays might be a while away, but it’s never too early to prepare yourself for Christmas. If you already haven’t been saving money for shopping and buying gifts throughout the year, right now is the best time to start. The first step to avoiding a holiday season that drains your bank account is to plan ahead:

  1. Plan: Plan your budget before doing anything else. Make sure to include your expenses in your budget. Make a list of the things you need to buy. You can put different items in different categories. For example make a list of your family and friends you will be buying presents for and allocate an amount for each person. You can find more tips about budgeting here.


  1. Start early: Start early with your saving and shopping to avoid the last minute rush. Shopping on the last week of December means you will be paying more for whatever you can get your hands on. If you already have a gift in mind, why wait for Christmas to get closer and closer? Also start saving your money early if possible. Try to reduce your weekly expenses and save some money for the holidays.


  1. Make homemade gifts: You don’t need to buy fancy gifts to impress your family and friends. Sometimes a simple present will be remembered for years and an expensive gift will be forgotten within a month. If you have a special skill or talent you can put them into good use and make a nice gift for your loved ones. If not, there are hundreds of ideas which you can find about by searching the Internet.


  1. Buy things on sale: If you planned your budget and made your shopping list, you already know what you need to buy and how much money you need for it. Many super markets and shopping centers have special offers and discounts for Christmas. Try to buy what you want from these stores to reduce some of your costs.


  1. Don’t rush: Have you been saving some money to buy a new TV this year for Christmas? Maybe it doesn’t hurt if you wait for a couple more weeks. Before Christmas is the costliest shopping time of the year. If you wait for January, you can get what you want cheaper and probably save some money for future.



(Image source: PicJumbo)

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