Tips on Saving Money during the Holidays

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Tips on Saving Money during the Holidays

The first thing to remember is that it’s not a requirement to spend a ton of money on the holidays. This idea that we need to stimulate the economy by spending more money is so superficial. No, we’re being smart with our money, instead of going out and buying a bunch of crap that we don’t need.

With the hype that holidays usually bring, people always have the tendency to buy more and spend more without taking into account the consequences that their actions can bring.

Hence, it does not necessarily mean that because it is the holidays you have all the reason in this world to buy whatever you want and spend how much you want. Some people contend that it’s just once a year, so better give what you have.

The problem is that giving something just for the spirit of the holidays does not mean you have to spend gold. You can still give something that will be deeply appreciated without having to spend more money.

Here’s how:

1. Make a budget and stick to it

The problem with most people is that they find making a budget relatively easy but sticking to it is doubly hard. So what’s the point of making a budget when you do not know how to conform to what you have stated in there?

Making and using your budget should always go hand in hand. Therefore, when you make your budget this holiday season, it is best that you follow the things that are written in it so that you would be able to save more money.

2. Live within your means

Of course, everybody would want to give gifts because that is what the holiday season calls for. However, it does not necessarily mean that you have to spend more than what you can afford.

The trick to saving more money is to always live within your means. Spending more than what you can afford will definitely bring more problems than you can afford to solve.

3. Personalize it!

As they say, it is the thought that counts. Hence, there are no better ways to show how much you have thought of those people this holiday season than making personalized gifts.

4. Shop and compare

It really pays to shop around and doubly better when you compare prices. You will never know which items are better priced than the others are when you do not compare their values.

The point here is that you should not be confined to one shopping portal. Try to look for other items, usually in thrift stores and consignment shops, where you can find the best items at a lower price.

Indeed, shopping for the holidays can be fun, but you don’t have to be spendthrift. Nowadays, you really just have to be practical.

Virginia banks offer online money management - TMCnet

14 Mar 2010 at 5:18pm
Customers can use it to track and trim their spending and get help saving money. They also can create graphs and charts, receive alerts on their computer or mobile device, even on their social network, and make a budget, use the calculators, look at ...

Mo. House Democrats call for ending some tax breaks ... - fox4kc.com

11 Mar 2010 at 2:55am
... scheduled to outline his own budget plans Thursday in a speech to the Springfield Business Development Corp. Nixon said he supports changes to the state's tax credit programs and consolidation of government functions to help save money.

Gretchen's Green Tip of the Week - Pottstown Mercury

14 Mar 2010 at 9:11am
Some energy saving practices requires spending money. Other ways do not. Let your budget and conscious decide what you can do to be more Green. This week's Green Tip: When getting something out of the refrigerator, try to take everything out that you ...

Money matters story - NEWS.com.au

14 Mar 2010 at 5:11pm
The biggest hit on a new family's budget is the loss of one partner's income for weeks, months or years ... Saving for all these additional expenses, and buffering against the income drop, should happen at least a year out from a couple even thinking ...

Budget 2010: Smiles for individuals - MoneyControl.com

12 Mar 2010 at 7:22pm
Now an individual having taxable income of Rs. 5 lakhs would pay Rs. 20,600 less tax while this saving would be Rs. 51,500 for ... her net disposable tax free income would remains the same after this budget proposal.

Tagged:

Holidays, money, saving money, Spending

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December 02 2008 06:07 am | Money Management

2 Responses to “Tips on Saving Money during the Holidays”

San Francisco Financial Planning on 03 Dec 2008 at 11:27 am #

great advice above. And remember that all those little savings matter, because together they add up. So don’t be afraid to save $1 here, or even 50 cents there. I always like to show my clients how small savings can add up to big money over time:
Save $1 per day = $30 per month = $365 per year
Save $50 week = $200 per month = $2,400 per year
Great Prices Here » Tips to Save Money During the Holidays on 19 Dec 2008 at 9:05 pm #

[...] were some useful tips here as well, such as making or personalizing your own gifts. And if fact it is lovely to receive a [...]

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