Oh, the holidays! It's a time for parties, eating too much, and spending too much money. Americans often spend more than they can afford during the holidays. This often leads to more credit card debt, along with a bigger waistline from eating too much pumpkin pie.
The holidays already cause enough stress. Don't make things worse by going over your holiday budget. Here are ten things you can do this shopping season to save time, money, and stress:
Make a list. Write down how much money you can afford to spend this year. Choose who you want to buy for and how much you want to spend on each person. Take this list with you when you go shopping so you don't buy things on a whim or spend more than you planned. Don't forget to add the cost of wrapping paper, decorations, and shipping. These can quickly add up!
Buy your holiday gifts with cash. Since it's much harder to spend cash than credit, this tip alone could save you hundreds of dollars this holiday season. Also, don't sign up for credit cards or store cards that offer discounts if you sign up. Most of the time, these cards have high interest rates, which could make the discount you get when you sign up for the card cost you a lot more in the long run.
This year, do your shopping online. When you shop online, you might find discounts that aren't available in stores. When you buy something online, don't forget to add the shipping cost. Even if you don't buy anything online, comparing prices online before you go to the mall could save you a lot of time.
Have a Secret Santa gift exchange, where everyone puts their names in a hat and picks one name to buy for. This could save you a lot of money if you have a big family. You should tell everyone how much money they can spend by setting a dollar limit. So, no one will spend too much, and family members with smaller budgets won't feel bad about not buying a gift that costs a lot.
A group gift is another option for people with big families. Instead of each relative buying a separate gift, have them all chip in on one big one. You might all save money and be able to get the person one big, cool gift they really want.
Get going early! You can compare prices and catch sales before the holidays, which could save you a lot of money. This also stops people from buying things on a whim, which can be very expensive. If you shop early, you can also save money on shipping costs if you need to mail a gift. Waiting until the last minute can be expensive because you may have to pay full price for the gift and may have to pay more to ship it to make sure it gets there on time.
Make your gifts for the holidays. If you know how to cook, make crafts, etc., or have other creative skills, making your own gifts can be very special. If you don't have much creativity, you might want to give your time. Offers to watch someone's kids or do something special for them can be very thoughtful and appreciated gifts. Who among the parents you know wouldn't want free babysitting?
Right after the holidays are over, buy wrapping paper, holiday cards, and other decorations. After a holiday, seasonal items are often sold at deep discounts, and they never go out of style. This year, stock up on items on sale for next year.
If you're going to be travelling over the holidays, make your plans early. During the holidays, prices for plane tickets, train tickets, and bus tickets tend to go up a lot. Booking your travel plans early can save you money and stress.
