The holidays are a time for joy, peace, cheer, and broken piggy banks. Each year, we all dread going out and buying presents for our loved ones, not just because of what to buy, but how to pay for it. With the first snow come the first credit cards bills. And with less money in our pockets, how do we survive?
Suggestion One: Don’t buy presents!
How could you possibly not buy presents for your loved ones and not feel like the Grinch? Its easy! Chances are, you are all strapped for cash this year. So instead of spending upwards of $20 each for your parents, in-laws, siblings, spouses, kids, cousins, etc., why not just do a Secret Santa type of deal? Have everyone put their name in a hat, and pick out who they will be buying a present for. And if there are children under 12, go ahead and have everyone buy them something small too. As for couples, if you want to exchange presents with your sweetie, go right ahead. That way, you will keep your spending down.
Suggestion Two: Cut down on your list.
Have a friend that never buys you a present? What makes you think that in this economy, they will? And yes, its okay if you don’t buy a present for your aunt’s grandmother’s cousin’s niece.
The holidays don't have to mean "expensive".
Suggestion Three: For all those you have to buy presents for…
Have to buy a present for your boss, your neighbor, Santa himself? Try to make one of those gift baskets you would pay for anyway. Making little things like chocolates, cards, soaps, etc. is easy! Just buy a basket for each person, a few ribbons and some tissue paper, and look for instructions online on how to make little gifts (or just make your famous cookies), and make a few baskets. You can also buy large packs of things like candles, teas and coffees, etc. and throw them in. Always a great gift idea.
Suggestion Four: Instead of a gift for one,
Give a gift for all! You can do this in two ways– give gifts to groups, such as couples or families, or instead of exchanging gifts to each other, give a gift to the world! As a family, go help out a food kitchen, or donate to the Salvation Army. That way, you will still share in the message of the season, but keep it less materialistic.
Suggestion Five: How to pay for the rest:
Still not convinced? Fair enough. Set a budget–even if it means talking to your family and planning ahead of time that you will spend no more than ten or twenty dollars on each person. And make sure you have enough money saved up for at least the minimum payments– starting off the new year with old debts is never a great idea. And then decide: do you really need those red shoes to match the Santa outfit, or can you wear your black ones? Do you need fifty new ornaments, or can you use your old ones? Do you really need the tree that is a foot taller and will barely fit in your living room?
And once it is all done, enjoy it. That is what the point of the holidays is, isn’t it?
What are you doing to cut down on costs this year?
