With the festive season around the corner, we find ourselves pondering how to ensure a frugal and enjoyable celebration. If our children had their way, they’d spend every dime on Christmas presents. Fortunately, it’s not their decision to make! Over the years, we’ve accrued some savvy methods to lessen the financial burden of the holidays. Here are a few ways we’ve discovered to get the most out of the Christmas budget.
ONE BIG FAMILY GIFT
One effective strategy we’ve developed to get the most out of our Christmas budget is buying a substantial family gift. For a large family like ours, individual Christmas gifts can be costly. However, by limiting the quantity of gifts we buy, we can save some money.
Instead of setting aside $50-$60 per child, we can reduce that cap to $30 each and inform them they will each receive a single gift up to that limit.
The amount saved from these individual budgets can be put towards a present for the entire family. I aim to find a gift that costs less than our combined budget. Supposing we allocate the same amount for my spouse and me, thrown into the family gift pool, the aim is to find something below $270, based on the $60 per person budget.
Here are some of my top choices for family gifts:
– Museum memberships, with passport plans included: $85 – $140, depending on the museum.
– Game tables (e.g. ping pong, pool or foosball): I’ve found some as low as $75, in good condition
– Board games: Prices can vary drastically
– Mini-vacation using Trusted Housesitters: A trip could cost between $100 – $200, depending on the destination and duration
– US National Parks Pass: $80
– Groupon adventures: Prices vary, often with extra discounts during the holiday period.
EXCHANGES
Exchanging items for others, at no cost, feels like acquiring something new. We practice this with our children’s items and our own. While there are multiple methods to make exchanges, the objective is to keep the entire process cost-free, maximizing your Christmas budget savings.
POSHMARK APP
One of my favorite platforms to exchange clothing and shoes is the Poshmark app. Although they charge a service fee, shipping costs are included, so you won’t have to worry about them. This platform is limited to branded clothing, shoes, and accessories.
Purchase old clothes of your children on this app and then keep the earnings in your account for buying new items. This way, we don’t spend additional money.
AMAZON TRADE-IN PROGRAM
Another great option is the Amazon Trade-in program. We find it very useful when we want to get rid of no longer used electronics. Though we don’t fetch a high price, shipping is free, and the money is deposited directly into our Amazon account. It can then be used to buy other items for the holidays without additional money.
CONSIGNMENT STORES
Numerous consignment stores offer boutique clothing at significantly reduced prices. Though they don’t always pay highly for your traded items, many give more credits than cash. Credit can be used to get items your children or you may need without spending additional money.
GIFTCARDS
Gift cards are another wonderful way to stretch the Christmas budget. Take surveys online to earn gift cards – this can be quite a productive method if you like spending time on a computer, answering surveys.
Sites offering the best return rate include:
– Opinion Outpost
– Pinecone Surveys
– Survey Junkie
– Swagbucks
All in all, there’s a range of tactics to stretch your Christmas budget. The best strategy will depend on your circumstances and financial position.
Some of our favourites include buying family gifts, trading old items for new ones, and taking online surveys to earn gift cards.
Hopefully, at least one of these methods can help you stretch your budget, ensuring a delightful, stress-free Christmas. What strategies have you discovered to extend your Christmas budget?
