This season alone, the average consumer plans to spend around $660 on presents. That is why tracking Christmas spending and sticking to a budget is something that everyone should try to do this holiday season. It’s essential to take some opportunity to plan, and budget for Christmas presents carefully, so you don’t wind up overspending and placing things on a credit card. Here are my five best tips to avoid overspending during the holidays — and still get that something special for everybody on your list.
- Set Present Budgets
Among the essential things which you can do to save money on Christmas gifts would be to adhere to a present budget. This also requires budgeting how much you’ll spend on each gift and stick to it. Budgeting may not appear to be plenty of fun, especially around the holidays, but look at it as a creative challenge. Many times, carefully thought out presents are a great deal more meaningful than the more expensive ones.
- Buy Gifts Tailored to Everyone
During the holiday season, it is common to attend last-minute parties or get-togethers, or even a holiday celebration at work. Oftentimes, you will need to bring a little gift to these parties — and these additional, unexpected Christmas gifts can throw off your Christmas budget.
You can prepare for this by purchasing one or two generic gifts that you can give in return when you are on the receiving end of an unexpected gift or have a surprise celebration to attend. Gift cards are a great solution, but you can also consider having a great bottle of wine or a funny gift available.
- Kris Kringle Events
Another simple way to save Christmas gifts would be to organise a Kris Kringle event and draw names from a hat. This way, you may only have to shop for one person. This really can save cash on gifts. Also, it allows people to buy a more special gift for a single person, instead of several less meaningful gifts. This might be a good idea for the workplace and extended family events as well.
- Make Custom Cards
This season, rather than spending your hard-earned money on shop-bought cards which is only going to wind up in the recycling bin, why don’t you send your loved ones and friends Christmas greetings that they are going to want to keep around?
Why not utilise a favourite photo to make a personalised picture card, or compose a letter to your nearest and dearest rather than sending a card. This is a superb way to tell them just how much they mean to you personally or show them what they mean to you.
- Shopping Online
If you are Christmas shopping on the internet, start looking for ways to save every cent possible. Prior to starting, do an internet search for coupon or discount codes which you can use in the checkout. Look in the revenue segments of retailers’ sites to find out what is on offer.
If you understand what things you’re after, search for them online instead of merely moving to a seller’s web site. You might discover that it’s a lot cheaper someplace else. Be certain that you include any delivery costs when you’re comparing price points. The price of a few items can blow out, as soon as you add transport, meaning that it may be better to visit a or purchasing on days which the online service offers free delivery.