Top 10 Tips to Save Money This Holiday Season...

Submitted by webmaster on Sat, 11/21/2009 - 1:58pm
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  1. Create a Budget!Overspending causes more stress and more headaches to the already hectic holiday season. Know how much you can afford to spend and figure out how many gifts you can purchase with that amount. Make sure your budget includes everything you normally buy during the holidays, such as decorations, cards, and postage.
  2. Make a list and check it twice!Ask yourself two questions before you go shopping: Who am I shopping for and how much do I want to spend on each person? Remember - stick to your budget - you may have to eliminate some gifts or reduce the amount of gifts per person.
  3. Organize a gift exchange.It is typically not very practical to buy a gift for every person, if you have a large family or many friends. Organize a gift exchange, where each family member or friend, buys only one gift for someone else. This helps to reduce stretching your money paper thin! Also, by purchasing only one gift, you can often times spend a little more and make a more quality purchase.
  4. Plan ahead!Start Early! There are always great sales and great bargains - Black Friday is notorious for them. So, brave the crowds and see what deals you can find. Also, online shopping allows for relaxing shopping in the privacy of your own home, while still scoring great deals. Last tip- search for coupons! Tons of websites offer discount coupons for some of your favorite stores, seek them out- print and bring with you, you will be shocked at how much you can save.
  5. Resist the Urge!The stores have almost perfected the skill of luring you in during the holiday season. The colorful decorations and Christmas music make those sales all the more tempting, and it is easy to buy things that no one will ever use. Don't buy things on impulse. Also, set boundaries for your children's wish list so they don't expect more than you can reasonably accomplish.
  6. Think outside the box!If money is running low, get creative. There is absolutely nothing wrong with making your own holiday gifts! In fact, many of us would prefer something handmade and from the heart than something materialistic. Think of gifts using family photos, baked goods, or try finding new uses for old things. Don't forget that it's the thought that counts.
  7. Cash ONLY!If you have trouble with budgeting, then only spend cash. Once it's gone, your shopping is done.
  8. Stay away from credit cards.Credit cards may be easier, but it is easy to lose track of spending. Remember the goal is to stick to your budget and spend within your means- not end up paying for 2009's Christmas gifts in 2020.
  9. Plan for nex year...If you can,take advantage of the after-Christmas sales to get things for next year. You can usually find holiday decorations at unbelievably low prices. SHOP SMART - but remember - just because it's on sale- doesn't mean we can afford it, or need it....
  10. Don't forget the true meaning of the holiday.Remember- this holiday is about appreciating the good things in your life, spending time with loved ones, realizing how truly blessed you are - not about gifts...

Happy Holidays- Spend Wisely!