Christmas Saving Tips

We’ve all been tempted by sales, promotions and discounts during the holiday season, but before anything, set a clear budget. Start by deciding how much you’ll spend on each gift. Sticking to a budget is key. After all, that’s what it’s there for!

Once your budget is set, keep track of your spending. It’s easy to lose track when buying gifts, food and decorations. Use an app or a simple spreadsheet (like me!) to monitor how much you’ve spent; how much you’ve planned to spend and how much you have got left to spend. This will help you stay on target and avoid any nasty surprises.

Consider reducing other spending during this time of year. Do you really need that extra coffee or a new pair of shoes right now (you might be getting them for Christmas)? Cutting back on small, non-essential purchases will free up money for your holiday spending and help you stay within your budget.

Gift-giving doesn’t always have to involve buying something new from a store. Why not get creative and make some gifts yourself? Homemade treats like jams and scented candles, can be just as thoughtful (and a lot cheaper) than store-bought items. Plus, a personal touch adds a special meaning to your presents.

Take advantage of online shopping to avoid the crowds, but also save on shipping. Many retailers offer free shipping for orders over a certain amount. If you’re buying multiple gifts from the same store, combine your purchases to reduce delivery fees. Another easy way to save your dollars!

Many credit cards and apps offer cashback or rewards for purchases made during the holiday season. If you’re going to make a purchase, why not earn a little something back? Look into cashback offers or loyalty programs, and make sure to use them when shopping. If you are using a credit card, remember to pay it back with your savings account, to avoid paying interest and of course any unwanted debt!