Deck the Halls With This Christmas Shopping on a Budget Guide
Christmas is usually one of the dates with the most expenses of the year. This is the case since expensive gifts and food to host celebrations are usually bought in in abundance as well as travel expenses to reunite with the family. Many times, it is even combined with vacation trips. Much of these purchases are made at the last minute and this is what usually results in higher expenses.
Make a Good Plan For Christmas Shopping
At first, it may seem difficult to celebrate Christmas on a tight budget. The shops and the media do nothing but bombard us with images of new product brands and Christmas trees to get us in the mood. Nothing is wrong with that, but you have to celebrate the holidays in the way that you can afford to do so. Remember that life has to go back to normal after the holidays. Bills will still be due and you still have to find a way to pay those monthly expenses; regardless of the money you spent during the holidays. You can follow certain guidelines and our wise suggestions to save and equally enjoy your Christmas at the same time.
Good Planning
Having good planning techniques, organization and being aware of what is being spent is essential. In so doing, you want find yourself broke or in debt after the Christmas holiday has passed. It happens to people every year. The parties and holiday comes and the money goes. For many, the expenses of the holiday season add up slowly over time. It is very common to accidentally overspend at this time of year; especially when you depend solely on your credit card to make purchases. Below are some ways that you can approach this. Let’s dive in!
Tips To Consider
As soon as the month begins, you should make a budget. You should consider all the income you are going to receive, discounting the fixed expenses and therefore, you will have an idea of how much you can spend on purchases for Christmas. It is recommended that before the Christmas holidays come around, you make an expense budget.
Analyze your Christmas Shopping and what you can spend to celebrate the holiday, including decorations, food and gifts.
Stick to your budget and don't go overboard.
You can open a savings account and deposit money in advance. With this you will achieve an amount at the end of the year with which to use for your holiday expenses.
Take advantage of the discounted offers throughout the year to buy gifts, tablecloths, decorations, etc.
What Can You Afford?
Have you ever gone from checking your wallet or bank account and thinking where your money went? So that this does not happen to you during the holidays, you must keep a record of all the expenses in December as you do throughout the year. At any time of your life, you should know where your money is going. Based on that, you can adapt the best saving plan, reduce your debts and reach your holiday goals. Be sure to stay within your budget! Follow these tips below to create and stay within a Christmas budget that works for you.
Making a List
Start planning for the holidays by making a list to help you budget. Always double check your Christmas Shopping list. Viewing everything on the list can also help you recheck your list to make sure everything you have is essential. List all the activities your family will be participating in. Add the gifts you plan to buy. In so doing, you will have an accurate idea of the total amount you will spend.
Some common examples for your list may include:
Holiday gifts (include everyone you plan to give a holiday gift to)
Holiday meals (including office and school parties)
Social events (including gift exchanges, host gifts, items for theme parties, etc.)
Sending Christmas cards or gifts (the cost of printing and sending letters, costs of photographs for professional photos, sending gifts, etc.)
Christmas activities for children (photos with Santa, visits to theme parks, holiday attractions, etc.)
Travel (including pet sitting expenses, fuel for road trips, luggage expenses, etc.)
Christmas items (gift wrap, bows, decorations, cards, etc.)
Once you have all the activities and gifts listed, you can create one shopping list with everything you will need to buy. You can then use the list to start creating your budget.
You may see opportunities to narrow the list or save money in another way. For example, maybe you can wear something you already have instead of buying new clothes for Christmas. Be sure to follow your list to the letter. Don't get caught up in the shopping frenzy.
Christmas Gifts
Gifts take a major part of the budget for Christmas and this is where most of your attention should go. You should consider the individuals you want to give gifts for Christmas. Think for a moment about each person, and try to make a gift that is truly memorable. The problem with gifts is that many times, we spend more than is necessary. We give away things that are of no value to the other person, just because we don't make definitive plans. It is best to give something symbolic, which the person will cherish. If you buy a gift that is not memorable, the person will possibly forget it soon after.
The Experience
It is best to make the Christmas Shopping gift be the same as an unforgettable experience. Plan your gift giving and be creative. Not only will you save a lot of money by avoiding running at the last minute to buy the first thing that comes to mind, but you will leave a mark on that person you are giving to.
Set a Spending Limit on Gifts
Christmas gifts are a significant expense. One way to control this expense is to set a spending limit and monthly budget. Write down the names of all the people you have to shop for. Put a number on your gift and from that, choose the gift. Compare prices online and in stores before making purchases.
Personalizing Your Gifts
Everyone likes to receive gifts for Christmas, but when the budget is tight, you have to use your imagination. Think about the people to whom you are going to give a gift and take into account their personal tastes. Think of useful and inexpensive gifts, which you can personalize during your Christmas Shopping.
Gift Exchange
If you have a large family, a simple solution is to have a gift exchange. In this way, instead of buying many gifts, you will only have to buy one. You would have to plan a gift exchange event, which does not have to be over the top. You could organize this Christmas gift exchange system where names are randomly picked out of a bag a couple weeks before the occasion and set a spending limit for everyone.
Plan the occasion at a restaurant or at your home for an hour or two. Ask everyone to bring a potluck item. The importance should not be on the material things, but on the thought of giving and also enjoying the company of your loved ones and close friends!
Save On Christmas Food
You've probably wondered how you can save on Christmas dinner. Food and drink is also one of the considerably largest expenses, if you are entertaining guests for Christmas. If you have to organize dinner, you should think in advance what you are going to prepare. You should also do your shopping according to the number of invitees. Do not overdo it or fall short.
With this in mind, try to make a list with everything you will need to buy. It does not have to be everything in one day. Take some time and write down what comes to mind and start shopping the week before. Buy non-perishable items first. Shopping in advance will help you spend less, as many items double in price on Christmas.
Share the Costs Of Christmas
Another good idea is to coordinate with your relatives when it comes to Christmas Shopping for food and drinks, if you are going to have family over. For example, if you have to buy the drink, you should consider buying wholesale and encouraging family members who are contributing to do the same. You will spend less if you pool your money together and shop at one of those stores like Costco or Sam’s Club. Involve as many family members as possible. Each person can contribute turkey, drink, desserts, etc.
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Buy Online
If your budget is limited during this season, or if you decided that you need to reduce expenses, you can do your Christmas shopping without spending more than necessary. If you do it in advance, there are two ways to achieve savings of up to 60%. The Internet is a fast and effective way to search for gifts and compare prices. As an example, at Amazon, you have very good discounted prices during the holidays, starting on Thanksgiving, Black Friday and Cyber Monday. Take advantage of this.
Shop In Advance
Shopping for items for Christmas should be an investment and not an expense. That way, you save yourself buying things that you then store in the closet, season after season, because it's new and you don't want to give it away.
Another thing that is recommended is to buy the items on layaway and pay for the purchases during the months before Christmas arrives. This helps you avoid waiting for the sales and discounts, where you may end up going crazy buying unnecessary things. In any case, women's shopping habits have remained constant. It has usually been buying with the heart instead of the head. It is time to change all of that. Buying in advance takes the spontaneity and impulse out of shopping.
Stay Away From Name Brands
Many consumers are buying cheap gifts this Christmas. Since the recession and now the pandemic, there has been a tendency to be more reserved when it comes to spending money, and looking for offers and special prices. Before now, the trend usually won. Consumers are now willing to buy gifts, that in other times, they would have dismissed as too simple.
Saving Ahead Of Time
Imagine that after having listed all your Christmas Shopping expenses and done a review, your expense comes to a total of $6,000. Divide that amount by 12 and start saving $500 per month from January of that year. You would save that money in a separate account and when the holidays arrive, you will have enough money to meet those expenses and be more relieved.
Consumer Psychology
It is no longer about looking for name brand products at a good price. It is about buying cheap things that in the past, they would not have thought to buy. In addition, people are beginning to doubt if they are paying the right price for a product. That is why they now start deciding that they will buy something really cheap. One of the big questions in consumer psychology is: how much is something really worth? Many people are beginning to realize that sometimes they are only paying higher for a product because of its brand name.
Cook An Original Dinner
Having lots of food on the table is one of the long-established traditions of Christmas. That is why the price of turkey, among many other traditional foods, skyrockets during this particular season. To save on dinner, here are several tips:
Make all possible purchases a few weeks before Christmas, before prices go up.
Try making your traditional dinner with substitute ingredients, for example using chicken instead of turkey.
If you plan to make several dishes, cook little of each. Unless your family loves reheating, try to cook only what they will eat for dinner, as is done in everyday meals, so that you avoid waste.
Create an original menu. Christmas is still Christmas even without turkey. Preparing your family's favorite dishes can be a cheaper and even a more satisfying alternative.
Conclusion
If you feel anxious about being late with planning and organizing for Christmas and couldn't save too much, you can improvise or cut back on things you would normally purchase. You could write an abbreviated list of things you would shop for. Make the list according to the importance and take care of the urgent ones first. Don’t be too hard on yourself. Do what you can or you will feel a lot of anxiety about going over your budget. There will always be another Christmas where you can do things differently. Happy Holidays!