Does the expense of Christmas purchases always put a burden on your finances? Are you left feeling the effects of your festive spending spree, fearing the realities of your January credit card bill and the extent of your expenditure?
If this mirrors your financial scenario each festive season, a change of approach is crucial. Ideally, it’s prudent to set aside $25 to $50 monthly for holiday expenses. However, with merely seven weeks remaining until Christmas, we recognize this might be improbable.
Yet, numerous strategies can help you economize on your Christmas purchases, thus reducing the financial burden come January. Here are several methods that you can pursue today to gather funds for the holiday season:
1. Sell unused items: Take a good look around your home and sell items you haven’t utilized for a year or more. Perhaps there’s fitness equipment that’s become a dust collector? Sell it! Do you have children’s toys and clothes they’ve outgrown? Sell them on eBay or Craigslist. If you follow just this one step, you could make a significant amount towards your Christmas shopping budget.
2. Leverage credit card rewards: Some credit cards provide gift cards as rewards. My credit card, for instance, provides a $50 Visa gift card for 5,000 points. With my accumulated 15,000 points, I can redeem my rewards points for gift cards totalling $150. While not enough to cover all my holiday shopping, it will certainly assist in minimizing my spending.
3. Visit frugal lifestyle blogs: Many popular lifestyle blogs share numerous freebie deals around this time of year. For example, I recently took advantage of a deal for a free photo book which I used to create a meaningful gift for my mother, featuring pictures of our children, costing me just the $8 shipping fee. Keep an eye out for deals like these throughout the holiday season.
4. Trim your gift list: If finances are strained, consider reducing your gift list. Despite advertising claims, there’s no requirement to purchase a gift for everyone you know. Downsizing your list is an upfront saving. The fewer your expenditures, the less money you need to find for gifts.
5. Create handmade gifts: If you have a knack for crafts, consider creating some handmade gifts. They’ll carry a personal touch and you’ll likely spend less than you would on store-bought items. It’s important, of course, to create something your recipient will genuinely appreciate. Browse Pinterest for an extensive collection of handmade gift ideas.
6. Gift homemade edible treats: Although sweet treats are abundant this season, that doesn’t mean you can’t gift edible presents. Create items that the receiver can enjoy later in winter, once the surplus of treats has been consumed. Possibilities include homemade brownie mix in a Mason jar or frozen cookie dough that they can bake later.
Remember, the holiday season doesn’t have to pose a threat to your finances. By employing some of these methods, you should be capable of covering your gift purchases without accruing debt.
Tell us, what’s your preferred method of funding holiday gifts?
