It can be a very difficult time of year for many people. But does Christmas necessarily need to destroy your bank balance? Or can you take steps to have a more frugal festive holiday?
I have been celebrating the Christmas season for over 30 years now, and one thing I’ve learned over that time is Christmas is about one thing. And that is being surrounded by the people you love (and eating way too much food).
So you really don’t need to spend a fortune to have a fantastic Christmas, and these 4 ways will demonstrate how you can do frugally and for less cash.
Plan Ahead of Time
You should consider running your Christmas like a business. I don’t mean you need to fire Grandpa for falling asleep after dinner, but instead, keep a tight watch on the spending.
And the best way to manage the Christmas finances is to plan, and in order to do this successfully, you need to start early.
The more planning you do the more money you can save. Much like a business would, you should ensure you have everything planned with military precision. That way you are left without costly last-minute surprises.
And the more time you have to plan, the more creative with your spending you can be. You could even start thinking about making some gifts yourself, experimenting in the kitchen, or even getting your gift wrap and crackers the year before.
Did you know gift wrap and crackers are usually 75% less than retail price just a few days after Christmas day?
Save the Year Before
If you really want to have a positive impact on your finances start setting aside money for Christmas the day after. And yes I mean the day after Christmas for the following year. A little saved often is far less impactful both on a physiological and practical level.
It also means that you can afford some treats over the festive period. It is all well and good living frugally, but everyone needs to let their hair down with a drink and something nice to nibble on once in awhile.
Set aside a few dollars each week over the course of 50 weeks building up to Christmas. Even saving just $10 a week will give you a nice $500 package for the holidays.
Shop Smart
When you’re thinking about Christmas gift ideas you should make sure what you are buying is not too expensive. Don’t get carried away and try to think outside the box.
Practical gifts are often way more affordable.
And let’s be honest, far more useful in the long term.
You don’t necessarily need to buy socks and pencils, but something that is useful will be much better and definitely worth the money you do have to spend.
Cashback
You can’t escape the fact that Christmas is a time of year when you need to spend money. But if you really want to be frugal, then make sure you are getting some of that money back.
Cashback is a great way to get back 2-10% of the total purchase price – and there are countless providers offering this service.
TopCashback has been one of my favourites for many years now.
And if you need to spend the money anyway, you may as well get something in return. If you are spending a total of $1000 on gifts over Christmas, and you are able to get an average of 5% back for all purchases, then that’s $50 for your wallet.
And you can always double down on the savings by searching for discount codes and promotional offers as well.
It truly is a lot easier to have a frugal Christmas than you may think.
It just takes some planning, and little bit of Christmas magic!
