Saving money during the festive season
Updated: Feb 13, 2019
Holidays can be something that we look forward to, however, they can also be something else… expensive!
Just ask the numerous businesses/corporations that benefit from brisk sales during holiday periods.
Holding on to money is slowly becoming of growing concern for people around the world during the holidays and ultimately, this reduction in spending is also indicative of the changing mindset with regards to spending as a whole. Many consumers are now wary of spending too much during holiday seasons.
While some are completely clueless about how to keep their holidays from tearing a huge hole in their wallets/purses, others are restricting their budgets to a point where all the joy of the holiday season is gradually sucked dry (and where’s the fun in that, right?)
So, is there a way to enjoy the holidays and save money as well?
By spending and saving wisely, your holiday season doesn’t have to be a total budget-buster (nor do you have to be a total grinch!).
Here are a few ways in which you can trim your expenditures down and hack your way to an enjoyable and sustainable holiday season.
Design a budget that isn’t too tight
Setting a budget may begin with good intentions but unrealistic measures can quickly turn your holidays into a disaster without a little leeway for last-minute purchases or enough cash allocated to get your mum something new. In order to save yourself from unnecessary frustration, you’ll need to look over your numbers. Try cutting back so you can allocate more money towards the things that mean more. Don’t pick numbers out of thin air either, really think things through to help ensure you’re making the right decisions.
Don’t forget the little things
While gift giving can (understandably) be a huge expense during the holidays, don’t forget that there are other small costs you incur throughout the season. They could come in the form of get-togethers, charitable donations, travel expenses or holiday-themed activities that added up and can very easily blow a hole in your budget. So, whenever possible, factor a little extra into your budget (for unexpected costs) so you don’t have to end up eating the canvas.
Watch out for those sales (seriously)
As tempting as they may be, holiday seasons are riddled with amazing deals and huge promotional periods from businesses everywhere (and we’re not even talking about Black Friday and Cyber Monday here).
You’ll need to avoid getting sucked into overspending and that can be tougher than it sounds. These periods are often advertised as the best time to grab all the items you require at discounted prices but if you’re going to take advantage of any supposed “sales”, it’s important that you firmly stick to only buying what you really need (which can really take discipline). Make sure the items are a decent discount and that they are worth spending on. This will take mental grit (especially with all the amazing deals surrounding you).
De-clutter the home and make a quick buck
Traditions are really a huge part of holiday festivities, while some traditions may be more expensive than others, you might want to consider making home de-cluttering part of your family’s holiday routine. Take a look around the house and see if there’s anything you can sell, you’ll be surprised to find all the things you don’t necessarily need. Involve the whole family (including the children) and get them to de-clutter their rooms. By getting rid of stuff that isn’t used anymore, you can also enjoy making a bit of quick cash in the process.
Once the festivities are in full swing, why not swap clothes with friends and family members? A big clothes-swapping session can be fun and it can definitely save on expenses. Swap nice dresses or handbags that may be used but still seem good as new. Now, how’s that for something different?