HOW TO ENJOY CHRISTMAS WITHOUT BREAKING THE BANK

Worried about the proverbial 100 days in January? Don’t fret, this article seeks to help you with money-saving tips for the holidays. We all know that there’s a thin line between Christmas fun and financial distress. Our aim for this holiday season is to have fun, not to enter the new year with financial distress. With the challenges and uncertainties we’ve witnessed these few years, cutting down on Christmas spending is more crucial than ever. The following ideas will help you to manage your Christmas spending better this yuletide.

Budgeting: Make a budget for all the things you need for the season. Ask yourself what you want to buy and how much you want to spend. After coming up with your list, consider where you can cut back. Structure your budget, spend within your means, and don’t buy just because an item is on discount i.e., avoid impulse buying. Going with the seasonal flow without a budget is like jumping into the pool before learning how to swim. And that is surely a recipe for financial anxiety. Sticking to your budget needs discipline and dedication, especially in these times of promotions and events. However, a budget helps you to keep your spending under control and plan properly.  Remember the adage “if you fail to plan, you plan to fail”.

Gifts: The season comes with its associated cost of securing gifts for family, friends, and sometimes for charity. Buying gifts on credit or with your entire savings is not the right way to go. Make a list of whom you are buying for, allocate a budget, check and compare prices to get the best deals. Make sure you don’t fall into the trap of buying things that might end up in the bin. When you are faced with the challenge of finding a suitable gift, consider giving money or gift vouchers within the agreed amount.

Decoration. Decorate with recycled and reusable Christmas lights to reduce cost. The festive period is not the time to show off. Find creative ways of using what is readily available to decorate your surroundings. Get the family involved in making decorative pieces from simple materials. The internet could give you great DIY ideas.

Travel and entertainment. Take advantage of securing advance tickets for your travels to reduce costs. Weigh the options available to you and decide which holiday destination will serve your purpose. Compare prices and look out for discounts where applicable. You can also consider a staycation with fun activities; this will help you cut down costs and be well-prepared for the coming year.

When it comes to entertainment, choose what works for your pocket and avoid the temptation of following the bandwagon. If you must attend events, do well to secure early-bird tickets. Early birds tend to get privileged pricing that is usually a fraction of the full price of tickets.  

Shopping: Christmas comes with shopping for extra groceries and other necessities. Try to shop around for the right prices. Research and seek reviews on vendors and sites to avoid wasting your money on inferior goods. You can check out items on sale, however, be savvy about this as you might end up being deceived by vendors or buying what you don’t need. While the idea of discounts is hugely tempting, think ahead about what you need to avoid spending on things that are out of your budget.

In conclusion, note that the Christmas season should be a time for bonding, creating memories, and planning for a better year ahead. Have fun and take as much rest as you need to re-energize for the new year. There’s no need to break the bank to keep up with the Joneses. Plan what you need for the season, spend within your limit, and don’t forget to share some love and good cheer with the ones that need it most. In all, financial discipline should not be on pause because of the holidays. Enjoy the season and start the new year with the best strategies for financial security.