It is easy to get caught up in the holiday excitement and overspend during the holidays. We want to be generous to our family and friends but, for many of us, 2009 has been a difficult year. I don’t want to start off 2010 with overwhelming credit card bills and I’m guessing you probably feel the same way. Here are a few tips and tricks that can help you reduce your holiday spending.
First, make sure you decide on how much you can realistically spend on gifts for the Holiday season and make a budget for your spending. Then, write down a list of whom you are buying gifts for and how much you can spend on each person. Without a budget in place you don’t know if you are overspending or not.
Make sure the Holidays are about what they really are meant to be about; showing others we care for them. It’s not about the “stuff”, which in many cases just ends up being junk in other peoples home. Unless you really take the time to find out or figure out what another person truly wants shopping for them can be very stressful and wasteful. You are then better off giving cash or a gift card. (On a side note, when it comes to gift cards make sure to select ones without an expiration date.)
Instead of going to stores where you might be enticed to buy additional items, buy your gifts online. This year many retailers are offering free shipping, which means you can purchase all holiday gifts from the comfort of your home and have them delivered right to your door. No need to stand in line or put up with the crowds. Also, Walmart and Amazon are in the midst of an online price war so you might find additional bargains. Just make sure to follow your budget and don’t make unnecessary purchases, like my husband sometimes does.
If possible try to buy gifts for a whole family instead for each person individually. You can for instance buy gift cards or movie tickets for the whole family. Less time to figure out what everyone wants and it will cost less.
Great gift ideas that are low cost options which most people enjoy are - homemade gifts. It will cost you less and it also shows that you took the time to make it especially for that person. I think it shows more that you care than a bought gift. You could for instance give away home baked cookies, other homemade treats, homemade cards, or whatever else you are good at making.
For those very special people in your life you can give a gift of your most precious commodity, your time! Give your spouse a break from the kids (or other chores) for a day to do whatever they like. Book a day with your kids to do anything they want (within reason of course). Or any other way you can think of giving your time to others.
Be organized and take your time to plan your holiday spending upfront. It will save you money and time and then maybe you won’t be running around the mall on Christmas Eve looking for that last gift!
Happy Planning!
