I don’t want to say it because it seems wayyy too early– but there really is only 19 more Saturdays left until Christmas! It’s crazy! Whether you celebrate Christmas, Kwanzaa, or Hanukah, it is such a special time of the year that should not be overshadowed and overburdened by financial issues. So many people go into debt around the holiday season to afford things on their lists by placing items on their credit cards. I’ve definitely been down that road – super stressed, wondering how am I going to make the holidays special and get everything on my list. But, I’ve made it work and these are a few of my tips to help you make it work so that your holiday season is less stressful and more enjoyable!
Make a Budget
This is first and foremost. To avoid overspending, make sure to create a budget of how much you want to spend overall – write down a list of the people you need to buy things for and break down your budget to see how much money you want to spend on each person. Most importantly – stick to the budget!
Start now
The earlier, the better. I know some people who have their Christmas shopping done by September. I am not that good, but I am getting there. I use an envelope system inspired by Dave Ramsey where I have different envelopes set for certain things. I have one for Christmas, Sports/Extracurricular Activities, Gas, Entertainment etc. I figured out how much I need by the time those things come around and I add that amount of cash to it every week. I use my Recollections zip up planner (from Michael’s which I don’t think they make anymore) to hold my envelopes. If you started setting aside cash now, say $20, in the next 19 weeks you would have $380 saved for Christmas. That’s a decent chunk of change!
Use Layaway
I love using Layaway. Walmart usually starts their holiday season layaway in early September. I go on a day that Mackenzie is in school and I have the day off (or take the day off) to scout out what kinds of things I want to put on the layaway. It’s great because they keep your stuff until about 10 days before Christmas – so I don’t have to worry about hiding the gifts until then. Layaway is great because when you put the stuff on it, you only have to put a small amount down ($10 or 10% of your total, whichever is greater) and can keep paying on the layaway until the end date (then you have to pick up your stuff, or you lose the stuff AND any money you put toward the layaway. 3 years ago a kind soul paid my layaway off – I was so shocked when I went to go make my payment and pick up my stuff, it was all paid for AND I was owed money. I was very grateful, but there are many more people less fortunate than I, so I paid it forward and paid someone else’s layaway off that day. It was a great feeling.
Buy Gift Cards Along the Way
My daughter’s school does a great program where you can buy promotional gift cards for certain stores and restaurants (McDonalds, Bath and Body Works, Gap to name a few) and a percentage of what you buy goes toward your child’s tuition. So for me it’s a double incentive – I pick up some gift cards to either use around Christmas time or give as a gift and I get money taken off of her tuition. If that does not apply to you (as for many it would not), purchasing gift cards at random times during the year is a great way to off-set costs of gifts around Christmas time. I know someone who picks up gift cards every month for their stash to have on hand in case a birthday or special occasion comes up and they need a gift quickly. It is a great way to save and gift cards take up practically zero space in your home.
Keep Track of What You Bought
I have heard of people buying things and stashing them away and not remembering a) what they bought and b) where the hid it (think Clark Griswold finding an old Valentine’s gift with dust on it in his attic in National Lampoon’s Christmas Vacation). I have an excel spreadsheet that I use for budgeting and keeping track of what I bought – I write down the people, their gifts, how much the gifts cost and it automatically adds up how much I’ve spent. I mark in the column if it is still on layaway or if I tucked it away somewhere and then I have a running list of all of my gifts.
Account for Decorations and Food
Always in my budget I allocate for decorations and food for that time of year. I always make sure I allow a little extra in my budget to buy any decorations that go on sale after Christmas (I love hitting up the 90% off bins) and picking out cool pieces for the following year. I have gotten many ornaments and lights that way. I also know that we will buy a Christmas tree (we started the tradition of buying fresh, so I have that budgeted for the envelope as well). I also like buying fresh wreaths, and poinsettia plants for my porch – which if not properly budgeted for can definitely add up!
Shop in Early November
A lot of major retailers (Walmart, Target, Best Buy and Amazon) mark down their electronics in early November – so you don’t have to miss out on a great Thanksgiving to get the best deals! If electronics are on your list of things to buy, shop around in the early days of November and see what kind of deals they have offered. A lot of retailers will also price match from other retailers to keep your business in their store.
Check for Coupon Codes
Before buying anything online, check out places like offers.com to find coupon codes that can be entered at checkout. Also you can follow your favorite retailers on Facebook or twitter and sign up to receive coupons via email. Using a mobile app like Coupon Sherpa helps you find coupons and discounts a nearby stores and if you find a coupon you can use, you can pull up the barcode at checkout to get a discount. I have use Coupon Sherpa at places like Bath and Body Works and Payless – I have gotten a free items and 30-40% off of my entire purchase. It is definitely worth the effort to search for a coupon.
Focus on Meaningful Gifts
Another great way to save some cash is to get family and friends more heartfelt kinds of gifts. Knitting a scarf, painting a glass, making a candle – these are all great gifts to give and receive but you need time to complete the projects. By starting early (now), you can purchase the materials you need AND have enough time to complete the project you had in mind. This way you are creating a meaningful gift that is more special than you can buy in a store and you are saving money by going it. Pinterest is an amazing resource for finding things to make.
Save Your Change
We put any change that we get into two different jars – one jar is strictly quarters, the other is all other change. We wait for the jars to fill up, then we roll up the coins and take them to the bank and deposit them in a special account. We do not use the change for our Christmas budget (we use it for our vacation budget), but if you did use it for your Christmas budget, it’s a great way to save up money for the holidays. We always pay with cash so we get a lot of change back, and that change goes straight into this fund. The money adds up quickly and it’s in a form (change) that we don’t really miss from our wallets.
So there you have it – 10 ways that you can save and prepare yourself for the upcoming holiday season without breaking the bank! Do you have any ideas not listed? Leave them in the comments!
