Spending money during the holiday season is inevitable – even if you are young and broke. The season of giving brings extra expenses that are hard to avoid.
While spending money may not be ideal if you are on a tight budget, there are ways that you can save a significant amount of money that you would have otherwise spent throughout the holidays.
Today I will share 5 ways in which you can save or “get” money this holiday season.
1) Get a Plan
First and foremost, get a plan on how you are going to spend, on whom, and on what. If you just keep buying and buying, you won’t ever really know how much you spent, when, and on whom. In order to save money this holiday season, you MUST get a plan. Retailers are hoping you do not have a plan so prove them wrong and get one!
List specifics such as who you are going to buy for, when, where, and how much. Also take into consideration any food or baking you will be preparing as this can cut into how much you are spending throughout the holidays that could break your budget.
2) Get an obtainable budget
I always have an idea in my mind of how much I will spend on Christmas gifts and even try to break it down by individual. However, it can be difficult to stick to your limits. For me, I always get tempted to keep buying gifts for the children in our lives. This year it is my goal to not only write down my budget- but to STICK TO IT.
Having a budget that is within your means is essential to being smart with your money during the holidays.
3) Get e-mail notifications
While many of you are skeptical of this suggestion for many reasons, I have found this to be extremely helpful. I am on the email list for a number of retail stores and online coupon sites. Often, it is very tempting to buy things because of all the great deals that come through my inbox on a daily basis. But the best thing about it is that I can delete it right away if I don’t need anything!
I have to admit that sometimes, it is absolutely obnoxious to get 50 emails a day from companies rather than people. However, I cannot deny that it has saved me hundreds of dollars. I monitor what type of deals the sites have and how often so I can grab onto the best deals out there.
4) Get prices
Price comparing is key. I have never been super big on Black Friday shopping. This year though, I was in the hunt for a pair of boots considering I live in snowy Minnesota and didn’t have one pair of boots that didn’t get soaked when walking in the snow. Because I compared Black Friday deals at various stores and online, I found a pair of brown boots that were the same brand at one store that was selling for $40 and the other one for $20. Twenty dollars here and there adds up so get researching to get saving!
5) Get creative
I am all about getting creative to save money. I have made multiple gifts that I could have spent hundreds of dollars on just by being creative and making things myself. If you are not crafty, don’t worry, you can still get creative by thinking outside the box on what types of gifts to get people and save a considerable amount of money this season.
What do you do to save money during the holidays? How do you “get” money during this season?
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Photo by Alan Cleaver
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These are great tips! Planning is especially important I think. I like to keep a running list of who I’m getting a present for and how much I’m spending. That way I can really keep tabs on how much I’m spending overall. I normally spread my shopping out a few months so it helps to keep track of everything,
BudgetforMore such a great idea! Spreading out spending is so crucial and I never did it until this year! I even bough stuff last year in January when everything was on sale! I saved a ton!
These are all great tips and we use a number of them in our family. I think the planning ahead and budgeting for it is vital to keep your spending in check. We also use our credit card to earn the rewards points and pay it off with the cash we’ve saved throughout the year.
FrugalRules yes! rewards are the best on credit cards! I have a Discover Card so I like the shop Discover they have! Such a great deal!
I set a reasonable Christmas budget and stick to it. This year’s was higher than last, mainly because my kids are getting older and I bought them a few nice things for Christmas.
Holly at ClubThrifty budgets are always a good thing! I always seem to have a hard time sticking to them during the Christmas season but this year I have stayed on track thankfully!
It always amazes me how many people just walk into a store and buy something without price comparing. If there is ONE time of the year to do it, it’s the holiday season. With so many apps and websites out there that are just begging to help you find the best deal, it’s almost like throwing money away!
DebtChronicles It always amazes me too! It shocks me that people STILL don’t know about store deals and coupons even!
There are a ton of times where I ask for a person to make me a craft or share their hobby with me as a gift, but they get so wrapped up in the “well, I have to get you something!” If you’re talented, USE IT! I always love to knit things for family and I’ve made artwork for my friends. Dont be afraid to go off the grid.
I give blood several times during the Holidays for some extra cash. I also sign up to be a guinea pig for medial testing. I might look terrible by Dec 25th but at least the kids stocking are full…
I can’t agree more with how important #1 is… to get a plan! My husband and I always start by maping out a budget. We think of what we want to get each member of our family and what we are able to spend. It’s easy to get carried away when in the stores and you see additional items that seem perfect for someone and you know they will love it. If I have a plan in place I’m better able to keep within my budget.
I’ve found email notifications to be really helpful. I try to unsubscribe after I’ve found what I’m looking for, but signing up while you’re looking works well. I jumped at a discount on a doll my daughter wanted when I got a discount notification. I also try to look on Ebay to see if I can get things cheaper there. Sometimes you can, sometimes you can’t , but not looking can cost money.
Awesome list. I actually created a second gmail account for all of the email notifications I signed up for, so my main inbox wouldn’t be overrun with spam. But I definitely see if something is cheaper on Amazon before buying. Also, I keep a bunch of weekly flyers with me, so anytime I’m in a store, I can just whip them out and get a price match. Saves gas not having to go 37 different places. Planning is key!
I’m definitely a planner and I find planning around my finances is really important to stay on track for me, especially during the holidays.
I also love getting creative – I try to find interesting ways to save by shopping online and buying things that aren’t necessarily the norm.