7 Ways To Save During The Holidays

Every year it seems like you run low on cash during the holidays. That’s probably because you don’t budget for holiday spending. It’s difficult to budget for something that only happens once a year. But the holiday season doesn’t have to destroy your budget or your wallet if you’re smart about your spending. Here are 7 ways you can save cash during the holidays.

Shop Early

Get started early with your Christmas shopping. Start on Black Friday and continue on Cyber Monday. That is when the deals are the best. Don’t that person panicking on Christmas Eve looking to buy last minute presents because you probably won’t be looking at the price tags too much.

Cut People Out

You don’t need to get a present for everyone and their neighbor. Only buy presents for those who are nearest and dearest to you. $25 presents to 20 people ends up being $500.

Budget

Set money aside for your Christmas spending. Make up a dollar figure which will be your budget. Whatever you do, do not go over this set amount. It’s good to make a list of who you’re going to buy a present for and how much you plan to spend for each person.

Comparison Shop

Every business is trying to compete with each other during the holidays. This is great for you the consumer because it means you’ll get lower prices. But before you go buying something, make sure and check to see if you can get it cheaper elsewhere. Use a price comparison site or an app on your smartphone to get the best deal.

Shop With Cash

Don’t go holiday shopping with a credit card. If you do, you’ll end up spending all of your available credit limit. Instead, only use cash or your debit card so you can’t possibly put yourself in debt.

Shopping For Yourself

Don’t buy yourself any presents this holiday season. If you’re not getting any presents this year, it’s okay, but otherwise don’t do it since you’re going to get a whole bunch of presents anyway.

Wrapping Paper

Don’t spend too much money on wrapping paper or tissue paper. Nobody ever keeps these things. They will just rip them apart and then throw them away. It’s the present and the thought that’s important, not the wrapping paper. Be sure and keep wrapping paper on presents given to you so you can re-use them next year.

Anum

Anum Yoon is the founder and editor of Current on Currency. She loves all things personal finance, which is why you'll find her work all over the PF blogosphere.

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