Christmas comes around every year – without fail, in the same month; on the same day even. Real life looms on the other side of the holiday season. So why we are always blindsided, and left limping along until the longed-for check in January? Seeing as Christmas is an annual certainty, it makes sense to plan ahead, and look for the best solutions as to how to come out of it without feeling too beat up. Let’s look at some solutions that can go a long way to helping us save money at Christmas time.
Pay the bills first
It’s essential to make a list of all the normal fixed monthly costs such as the mortgage, the car payment and so on; and the other normal monthly costs like gas, utilities, phone bills, groceries, etc. Once you’ve added all these up, you have a picture of what total amount you have free for Christmas expenses. Remember that this amount needs to cover all the costs – gifts, festive food, plane flights and/or gas, and accommodation if you’re travelling.
If you’re one of the lucky ones, and get an end of year bonus, don’t spend all of that 13th check! You need to allocate at least half of it to extra mortgage payment, the retirement plan and into the savings account. This provides you a buffer against possible difficult situations in the year ahead. It would also behoove you not to get into debt at this time of year for something you think you need; think twice, and that need will probably prove to be a want. Rewarding yourself for making it to the end of another year is one thing; but getting that big-screen TV you’ve been eyeing ‘cos your other one is two years old…
Shop early
Even though we know Christmas is coming, so many of us leave it too late. Diarize and apportion a specific day and time, and go and get it done. Shopping early ensures a greater and probably cheaper selection, and in the early run-up there are a plethora of specials from companies who want our dollars first. Peruse the daily deal sites; early shopping ensures the gift will be delivered on time.
Gifting colleagues
This is a custom that has become almost traditional in our consumerist society; we are expected to give gifts at the office. The obvious solution is to collectively agree on a low cost gift, and to stick to it. Instead of a cheap bauble from a store, again the sites that offer daily deals are ideal. Instead of catching the buying fever and overspending, you can shop at home or the office, and browse hundreds of offers, and calmly pick something you know that person would like, and at a definitive cost. Or a gift voucher from an online store that offers diversity in its products. Simply print it out and voila, done.
Gifting family members
If you have a significant other, collaborating and getting yourselves something that you both want for the house is an alternative to guessing what the other might like.
When it comes to extended family, you could perhaps make a deal where only the children will receive gifts. Alternatively, you can put a dollar limit on the gifts. For a larger gift, perhaps for a parent, you and your siblings could network and contribute together to buy that gift, thus sharing the cost.
Don’t underestimate the value of making homemade gifts for your family; they’re often treasured more than store-bought gifts.
Gifting your children
Buying for our kids is usually the biggest expense. For some reason, we feel we need to up the ante, and buy bigger gifts for them than we bought the year before. This mentality leads to anxiety on our part, and entitlement on the children’s sides.
For the younger kids, it’s preferable to not take them to the mall, where they inevitably get caught up in the “buy buy!” hype that businesses know only too well will mesmerize our kids. Not exposing them to it goes a long way towards lowering anxiety levels on both sides.
For older children, if hopefully you’ve ingrained money sense into them from a young age, involve them and make them a part of the decision-making process. We often underestimate our children, but if you sit them down and explain to them that this is the cut-off; this is how much we have to spend, they will often come to the party, and offer cheaper solutions to their wants. This also makes them aware of the value of things.
For all of the kids; if you haven’t already opened a savings plan for them, do it now. If they know the value of a dollar, they may opt to have a deposit made into the investment rather than choose a gift. And for family members, particularly old aunts who live in Podunk or similar, you can suggest that they pay in as well. In this way, the school-leaving young adult may have funds for college, or a car, or even a deposit on a house; but best of all, they will go out into the world with financial savvy that will serve them lifelong.
Christmas Day
On the day itself, it’s great to gather at a family member’s house and have an intimate day, rather than book a table at an expensive restaurant; the prices are hiked up way above normal prices on Christmas Day. Each family can contribute parts of the lunch or dinner, for example each one is allocated a course, or a cut of meat, or the Christmas cake, etc.
These days are often the most remembered, rather than going out in the cold, then having to get back home after a few drinks. And also, the boys get to watch the game!
These tips are designed both to save money at Christmas, and also to capture or recapture the family meaning of Christmas. Happy Christmas to all.
Korah Morrison, writer on essay writing service that helps students to write essays of any complexity. She writes about seo, blogging, social media, internet marketing and other tips.
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