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Spending Less
How to Plan for the Holiday Season if Finances Are Tight
If you want to make the most of the holiday season but finances are tight, don't worry. Here are some tips for you. Although you may not be able to spend a lot, there are still plenty of ways to make the holiday season meaningful.
To make sure that you don’t overspend this holiday season, you need to have a number in mind. In other words, how much can you realistically afford to spend this year? It’s better to start with a smaller number and then find that you have a little extra, rather than starting with a large number and not being able to afford that amount. After you come up with an overall number, try to roughly assign amounts to particular categories. Then, as you start to make purchases, keep track of them, and measure them against your budget.
While it’s a good idea to make sure that you get gifts for the people closest to you and not worry so much about acquaintances, it’s especially true with a tighter budget. You might want to consider getting gifts just for the family plus two to three close friends. If you have more people on your list beyond family and those few close friends, do something that doesn’t require much money, like:
Sending a nice card.
Baking some homemade cookies or brownies.
There are good ways to send a thoughtful gift without breaking the budget. While it’s never a good idea to keep up with the Joneses, you especially don’t want to do so during the holiday season. Even if you have a coworker that always gets extravagant gifts for everyone in the office, don’t feel you have to keep up with that.
While we all assume gifts have to cost money, that isn’t necessarily true. Sometimes non-monetary gifts can be even better. For example, if finances are tight this year, consider offering your babysitting services to family members so that they can go on date nights a few times throughout the year. It could mean more to them than most monetary gifts!
Often, the most important and meaningful gifts aren’t super expensive, but rather they are based on something that you really love and enjoy. For example, if your friend loves monograms, you could make their name out of sea glass or seashells that you found on the beach. This is the type of gift that could mean more to them than something a lot more expensive. You might also consider looking at websites that make personalized gifts like mugs, calendars, and puzzles for very reasonable prices. A standard mug, calendar, or puzzle suddenly becomes extra special for only a few dollars more.
Consider trying a gift exchange where each person only has to bring one gift. Or you could do a food exchange and play a game to figure out what food item you’ll receive! You could also consider getting a group of friends together to volunteer, like caroling outside a nursing home instead of splurging on a holiday party. Finding ways to get together without spending a lot of money will be particularly meaningful this holiday season.
Hopefully, by thinking ahead and remembering what this season is really all about, you can still have an amazing holiday.
For more information on how to manage your holiday budget, access the full article here.
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