5 Tips to save money on Christmas

Christmas is just around the corner and for people around the world, it will be a joyous time of the year. Unfortunately, for some people, Christmas can be a stressful financial time.

The Christmas period doesn’t have to be stressful, however. There are ways you can save money on Christmas and these tips should help you prepare for the festive period.

1 Stop extended gifting

Giving and receiving gifts can feel wonderful until you realize just how much money you are spending on people outside of your immediate family. Giving gifts to extended family members (every niece, nephew, and cousin) can zap your bank account. In addition, gifting to people at your work and friends can make it difficult to find the money to sort Christmas for your immediate family. This year, ban unnecessary gift giving and focus on purchasing presents for those closest to you.

2 Make a list and check it twice

Make a list of the people you are shopping for this Christmas. This will give you an idea of who is being shopped for, what they may like, and how much you will potentially spend. Once your list is made, you may find well-priced items on sale when shopping. You may find some very good discounts shopping with the person in mind before going in search of presents.

3 Track spending

It is easy to forget about the amount of money you spend in November and December. Therefore, tracking the amount of money you spend can keep you aware of what has gone out. Making a simple Xcel spreadsheet or jotting things down in a notebook can do wonders for your bank account. It may even open your eyes to the unnecessary spending that you make each festive time of the year.

4 Shop online

Retail stores are going the dinosaur’s way. In the near future with more younger generations being all-digital, the mall and department stores will be a thing of the past. Shopping online can save you money in a variety of ways. Not only can you get a cheaper deal (not always), but you are not tempted to make random purchases. The problem with going to a shopping mall or department store is that you can be attracted to buy items causing you to spend more money than planned. Also, brick and mortar stores have to pay for the space they occupy. Therefore, some items will be more expensive than online.

5 Re-think Christmas dinner

Regardless if you have a big family dinner or not, it is possible that you want to splurge on a big meal with all the turkey and trimmings. Purchasing a turkey and all of the foods to go with it doesn’t have to be expensive. First off, consider the grocery store you shop at. Most of the products you get from the store come from the same distributors and warehouses. The difference is the label. So, don’t worry about the store you shop at. Secondly, re-think what you want to serve. You don’t need a giant turkey that will be half-eaten. You can get small poultry, beef, or pork products to ensure it is eaten up.