Christmas is just seven weeks away, and your family must be jam-packed with friends and planning events for this special day. Every family member must be busy in the planning phase. Purchasing gifts, wrapping them and jotting the list of guests for their Christmas party. The only problem that comes to our mind during this planning period is that things get gradually too expensive and even sometimes go, over budget. The small expenses that you make here and there usually add up and this results in various stressful moments.
If you’re someone who is following a strict budget, you should be careful about overspending on Christmas as this holiday debt can push you into a vicious cycle of debt, coming out of which may later on become impossible. Moreover, it is not that you have to spend a tremendous amount of money to make Christmas memorable as there are also many ways in which you can spend a frugal Christmas. Want to know some such ways? Here are few tips to spend a thrifty Christmas yet an enjoyable one.
Devise a Budget for Christmas
The sooner you start planning for Christmas, the better it is for your pockets as you get a lot of time to change things in case you cross your budget. Experts always suggest you plan ahead of time, starting from the menu to the presents to the list of invitees and the decorations. Make sure that Christmas is an auspicious occasion and it shouldn’t put you into debt. Depend on your savings and stay within your budget without continually thinking of breaking it.
Speak about Christmas Expenses with Family Members
Did you speak with your family members regarding the limits that you should keep on gifts? Christmas gifting can be made frugal as well. Moreover, if yours is a big family with a large number of people, you should be very careful while planning things. If you go on to buy one gift for every member of the family, this will make a significant amount of money. So, take a look at your finances and then decide how much money you can spend on each member.
Shop When you Get Rebates
When Christmas comes closer, there are more rebates that you can take into account. Sales, rebates and online coupons on buying things should be taken into account and hence don’t forget to mark them on the calendar. There is also a discount that goes on post-Christmas, and you can then buy things and keep them for next Christmas. Make sure you have a rough list of the gifts.
Review Last Year’s Spending
Think of the spending experience which you had last year. Ask yourself whether or not you overspent while preparing and planning for Christmas. Try and learn from the mistakes that you committed last year and try your best to make a better Christmas this year. There’s no point in believing that you can’t enjoy without money. There are many ways in which you can make a simple and nice meal, design gifts on your own and yet enjoy Christmas.
Avoid Buying Unnecessary Things
You must be spending on pretty much the same items every year and hence this year when you’re planning a frugal Christmas, and you have to be sure that you don’t unnecessarily buy things which you don’t need. Also, try to make things on your own to create that personal touch.
Therefore, if you’re trying your best to spend Christmas within your budget, make sure you follow the advice given above to stay on top of your finances.
Author Bio: SB is a personal finance enthusiast with a career in software development. He blogs at One Cent At A Time. He is an immigrant since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job and responsibilities as a husband and a dad.