The holiday season can bring a lot of excitement and joy, but it can also be one of the most expensive times of the year for a lot of people. Buying people gifts, spending money on food, and general festive activities all add up and can leave you with bank account blues come to the New Year. While it might be a time to indulge to a certain extent, no one should be left worrying about their finances after it’s all over, so here are a few tips that could help you save during the festive season.
Gifts are a big part of the expense when it comes to the holidays, and it’s even more costly if you have a big family or network of friends to buy for. Secret Santa is a great way to save money for everyone, but no one is missing out on getting a thoughtful gift, either. If you don’t already do this with your loved ones, perhaps suggest doing so this year to reduce your spending. All agree on a budget that is comfortable for everyone involved and simply by one gift this year. If you and your friends want to do something different this year, you could always take part in the Red Cross holiday giving scheme and donate instead of buying each other presents.
It is always nice to buy some new festive decorations to get into the spirit of things, but this is yet another expense that isn’t always necessary. If you want to see something new on your tree or hanging elsewhere in your home, consider how you can revamp your old decorations and give them a new lease of life. It could also be a fun activity to do with friends one evening, or with your kids.
Think Carefully About Food
It’s the time of year when people love to indulge in all the delicious festive food, but when you’re facing a lot of leftovers the novelty wears off. To reduce the amount of wasted food or having to live off frozen turkey, ham, and sweet treats for months on end, think carefully about your festive menu. While variety is great, try to select dishes that use similar ingredients to make your grocery shop cheaper, and set a spending budget to help you keep track of your finances.
Join a Christmas Club
Certain saving schemes are specifically designed to help people save for the holiday season, and you can put money into your account over the year. This is a great way to spread the cost and to help you budget when December comes around. If you haven’t already signed up for one, think about doing it next year.
Host at Home
It’s always nice to go out and enjoy some festive fun by meeting with friends for drinks, going to a show, or some other holiday-themed event. These things are great, but they can be expensive. If you want to save money, ask friends and family to come to your home for a cocktail party or a festive games night instead.
Don’t let the holidays cause you financial worry, you should enjoy the festivities! Use these tips to help you save more this year.