Finances

10 Ways To Save Money During The Festive Season

10 Ways To Save Money During The Festive Season. The festive season is upon us and so is senseless spending. Many people always find themselves come January. Despite December bonuses and sales, January always have financial woes. The following tips though, can help you save money during the crazy festive season.

1. Make A Budget

There are a couple different ways to set a holiday budget. You might want to establish a general spending cap, or try allocating a specific amount to each person on your gift list. Create your budget now before the season hits full steam, and revisit it often to make sure you’re spending within your means.

2. Set Priorities

Analyze your expense and focus on those which are the most important. Yes, you may want to buy so many things and all of them seem necessary, but take your time and simplify your spending. Scratch a few items of your grocery list. Focus on enjoying the holiday season, not on spending all of your money to get ready for it.

3. Cut Back On Extras

We’re all guilty of indulging a little more than we should simply because it’s the holiday season. However, you can’t get stuck in a trap where constant spending on “extras” eats into your budget. Cutting back on those extras can have a big impact on your bottom line. Before you splurge on a little treat or “extra” for yourself, be sure it’s really worth the price.

4. Choose Cheaper Traditions

Traditions are what make the holidays so special, but they can be a financial burden. If your traditions include holiday travel, paying for a special attraction, or surprising your kids with extravagant gifts, you might find yourself going significantly over budget in the name of family.

5. Use A Savings Jar

You will be surprised what a few loose coins and notes can do to get December’s expenses covered. Put a savings jar in a ‘high traffic spot’ in the house and get your family’s competitive streak going by challenging them to start joining in on the activity. Starting a savings culture in your own home is not only exciting and fun, but also educational.

6. Use Coupons

Coupons can save you a lot of money so don’t underestimate them. Loads of coupons are available for grabs in December so you can significantly cut your spending! However, it’s important to remember that quantities are limited to don’t think for too long and get the ones you need.

7. Make Use Of pre-holiday Sales

A sale prior to December always comes in handy. However, the item(s) that you want to add to your shopping cart should be something that you ‘need’ and not ‘want’ – like stocking up on non-perishable goods. So, compile shopping lists for essentials and remember: before you head into the sale, to prevent impulsive and excessive buying, ask yourself: “Do I really need this?”

8. Know When To Stop

When your list is finished and you’ve checked it twice, it’s time to stop shopping. Know when you’re finished, and avoid stopping by the mall “just to see what they have” – this can lead to making poorly planned purchases and blowing your budget.

9. Get Everything Done On The Cheap

It’s important to keep in mind that your holiday to-do list shouldn’t overwhelm your budget. December comes with numerous money saving opportunities, all you have to do is to make a list and look for discounts and special offers.  Remember that there are things you can do yourself, for example, handmade gifts.

10. Make The Most Of After-Christmas Sales

Fortunately, holiday sales do not end up when Christmas comes! After Christmas you still can take advantage of sale prices for numerous items, so don’t waste an opportunity to get a great deal. You can even start getting ready for the next holiday season because prices for decorations will be extremely low after Christmas. Make a list of items you’re interested in and head to the stores when the holiday fever will be almost over.

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