We’re officially less than a week from Christmas day. If you’re like most people, you probably don’t have your stockings filled just yet. In fact, a lot of people still wait until the literal last minute to finish buying gifts. There’s always the sticklers and family members you don’t know how to shop for.
Then there’s the pesky budget to worry about. The Christmas season is clearly the most expensive time of year. People will spend money they don’t have to buy gifts. And it’s more than gift buying, but also food, parties, travel, and seasonal clothing. You can’t go to your office work party and NOT wear an ugly Christmas sweater!
According to ABC News, January and February see the largest increase in the number of people looking for extra work. The jump is about 25% from the rest of the year. Consumer Counseling agencies believe that this jump has a lot to do with Christmas spending in November and December. The credit card bills come in and suddenly it’s time figure out the madness.
http://financialhelpers.com/outstanding-student-loan-debt-in-u-s-hits-new-record-high/
In reality, the smarter decision is to plan ahead of time. You’ll spend less money and not be desperate after the Christmas holiday is over. Here are 5 simple ways to do your shopping on a tight budget.
1) Plan Your Christmas Shopping Ahead of Time
Sit down at the table and write a list. Remember everyone you want to buy a gift for. Then, for every name, create a budget. Look at your bank account and determine how much money you want to spend overall, then separate that between each person you want to buy for. Don’t be afraid to cut some people out if you’re having a rough year. They’ll understand. Planning ahead is key and setting a budget will save you trouble and extra work later on.
2) Pay in Cash
This is perhaps the easiest thing you can do to prevent yourself from overspending. The amount you determine you want to spend, pull it out of the bank account. Use cash to buy everything. Once you run out, then that’s it. Christmas spending is over. Maybe add a few extra bucks just in case, but be strict on yourself.
3) Shop Alone
Many people are too easily influenced by friends and family. If they’re spending a lot of money, you’ll also want to do the same. A ‘partner in crime’ while Christmas shopping could get you buying things you don’t need nor want. So, the best thing you can do is go out alone. You’re more likely to not spend as much money that way.
4) Give Christmas a Theme
Something a lot of parents like to do is just splurge on their kids. Buy them as many presents as possible, but what really happens? They might play with a couple of them, but most of the time, they don’t. Toys end up in the closet or in a basket somewhere 99% of the time. Instead, figure out a better way to do Christmas. Some families do a “want, need, wear, and read.” Get them one toy they really want, then something they need, followed by clothes and a book.
Or you can decide it’s time to do something different altogether. Christmas is the giving season, after all. If money is tight, there’s no better time to give more of yourself rather than just money. Serve at a soup kitchen. Do something different that takes money out of the equation.
5) Don’t Be Afraid of Discount Stores
Discount stores are where you’ll find the biggest bang for your bucks. They’re especially helpful if you choose to make gifts or need cheap decorations. If you have nieces and nephews, you can’t go wrong with coloring books and non-expensive gifts from the Dollar Store. And there’s nothing wrong with inexpensive clothes from Walmart. Save money!
