The holiday season is upon us, and as usual, it’s a time for joy and celebration. However, it might be difficult to be completely happy when you think of the financial stress that comes with it. If this thought is threatening to taint your joy, we have some money-saving tips to help put your mind at ease.
6 Tips to Save Money this Holiday
Get through the holiday without going overboard on your finances with these practical money-saving tips:
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Create a Budget and Stick to It
Sometimes, you may feel the urge to outdo the next person in decorations, gifts, and maybe food. But creating a budget will help you stick to what you can afford. It gives you an overview of what you have and how much you can spare. When making your holiday budget, set specific spending limits on all your holiday expenses based on what you can afford.
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Consider a Secret Santa Exchange
A Secret Santa exchange is a good way to save money on gifts. All you have to do is make a list of everyone willing to participate in the exchange, then randomly assign them to a person for whom they’ll be getting a gift. So, instead of buying gifts for each person in your family and friend circle, you can focus on getting a thoughtful gift for just one person.
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Look Up Free Entertainment
Look around for free holiday events happening in your community. This could vary from a tree lighting event and parades to free concerts. The holiday season is generally about love and creating meaningful experiences with loved ones. So, even a nice holiday movie with your loved ones in your living room can be just as magical as any paid event.
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Host a Potluck Style Party
A potluck-style party is a great idea for your holiday get-together. The potluck approach involves asking your guests to bring a dish to the party. So rather than making food for everyone, you get different dishes from different people for everyone. This eases the financial burden of catering to many people and makes the party more fun with the variety of food available.
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Make a Shopping List
If you go shopping without making a list, you might end up buying some things that you don’t need. This is why it’s important to make a shopping list and stick to it. Your list must be in line with your budget; no spontaneous buying.
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Check the Thrift Store for Gifts
There could be treasures within the confines of thrift stores. If you look, you might find something valuable to gift your loved ones. You could get framed art, vintage dinnerware, books, and more!
If You Need to Get More Money…
Here are some things you can do to get extra cash:
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Sell Your Old Stuff
Declutter your home, find things that you don’t need anymore but are in good condition, and sell them. You can do a holiday yard sale to sell off those items.
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Pick Up a Temporary Side Gig
Consider taking up a temporary side hustle for some extra bucks. You can become a shopper, babysit, or even rent your car for the holiday.
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Explore Financial Assistance Available to You
Check your eligibility for government assistance programs like Temporary Assistance for Needy Family (TANF), the Low-Income Home Energy Assistance Program (LIHEAP), and the Supplemental Nutrition Assistance Program (SNAP).
Conclusion
The holiday is all about creating memories and cherishing bonds. Take out the worry of all the expenses that come with it by implementing our money-saving tips. Enjoy a fun and budget-friendly holiday.