Saving money for Christmas
If saving money for Christmas is something that you find yourself starting at the last minute, here are some tips to make the money you have go further, or tips to save up a little bit more before you get around to shopping.
Cut out the treats
If you’ve been indulging a little too regularly in that after lunch coffee from that expensive coffee shop, cut the habit in half or a quarter. Take the money you would have spent and put it in your Christmas money jar. The best part is you’ll appreciate the treat of coffee far more since you’re not getting it every day. You might not save up a bundle but I guarantee you’ll have just the right amount for stocking stuffers, or one medium sized gift.
Work more
Nobody likes to do this but if you work somewhere where you can take on a few extra hours, start now rather than a month before Christmas. If you work just five extra hours a week at a retail job for 4-6 weeks (and you live in North America), you should be able to earn $100-$200, if not more. If you work in an industry that allows you to receive tips, the holiday season might make people more generous than usual.
Be a sales watcher and keep those receipts
Stores are already having mid-season sales so get out there and get shopping! If you have a healthy credit card or a nicely padded bank account, I’ll go so far to recommend you buy something, even if you’re not 100% sure it’s the gift you want to give. Buy it, keep it in its original packaging, keep the tags on and for the love of God, keep the sales receipt! This way, if you find something better (or even less expensive) a few weeks later, buy that too—and return the first item. This way you don’t miss out on the sales.
Give gifts that don’t cost money
This isn’t precisely a money saving tip, but the end result might be the same. Instead of buying someone a gift just for the sake of buying them a gift (you know, because they already have everything they need), why not offer a service. Similar to what was suggested here for gifts for parents, give your time: help a neighbour clean the snow off of his/her sidewalk, or rake leaves, or put up Christmas decorations. Invite somebody over for dinner instead of buying them a gift card to a restaurant. There are lots of services that you can provide that will be appreciated even more than a gift.
An excellent tip from Frugal Mania is to commit yourself to buying one gift per paycheque, instead of buying all the gifts on one or two paycheques, and having to scrimp for that period.
Christmas should not be a occasion that leaves you more stressed than happy, as you worry about how you will pay for all the money you didn’t have that you spent. Focus on giving of yourself, taking advantage of sales, and saving a dollar or two here and there and do it—it will make your Christmas that merrier!
October 26th, 2007 at 12:46 pm
I always buy most of my gifts way in advance. The main reason being that I HATE shopping at the mall during the busiest time of the year. I don’t mind the line-ups etc but I HATE having to be around all the cranky pushy people who hate lines! But, it’s also a really great way to spread out the $ spending. Rather than having to shell out all at once, you can buy here and there and also get great deals as you see them!