The holiday season is supposed to be a stress-free time of relaxation and family fun. Make sure yours is!
Plan a stress-free holiday
Many people, especially those on a limited budget, dread the holiday season with all its additional and hidden costs. This is so unnecessary. The secret to a stress-free holiday season that doesn’t break your bank isn’t complicated at all − it just takes some careful planning. Try these simple suggestions:
Plan ahead and stick to your limit
-
- Set up an overall holiday budget that includes how much to spend on gifts, food, outings, entertainment and travel.
-
- Group your gift recipients and allocate a set amount of money to each group. For example, members of your family fall into group one for most expensive gifts followed by those who get smaller, less expensive gifts.
-
- Pay cash whenever possible. It’s a known fact that paying cash makes people think twice before buying anything. Try not to use your credit card; rather pay with your debit card or a reward card that offers cash back when you make a purchase.
-
- Set your holiday budget for the next end-of-the-year holiday season in January. Do it after all the past holiday season’s bills have been paid and adequate money has been set aside for January’s living expenses. Start saving.
-
- If your budget allows it, try to rather buy gifts throughout the year at sales and at special prices or with cash back coupons. Start during the after-Christmas clearance sales when gifts, gift wrapping and Christmas decoration prices are slashed.
Save on gifts
-
- You could limit gift buying to family members. Rather give a family gift instead of individual gifts. Come up with a theme, for example a game night package filled with a variety of games suitable for both young and old or a book or DVD package put together with popcorn and candy.
-
- Recycle and re-use gift bags and boxes from previous years. Use old plates (the pretty ones that are no longer part of a complete set) and fill them with baked goods and candy, nuts and biltong or whatever else you can think of.
-
- Make your gifts personal. For example, fill cheap (but pretty) boxes or tins with your favourite recipe cards, poems, written recollections of treasured moments or old snap-shots.
-
- Make home-made gifts. Start early and stash away. Homemade gifts are cheaper and are much appreciated because they come from the heart.
-
- Get your friends together and have a fun white elephant swap evening. Everyone brings over a few things (clothing, books, toys, household items, etc.) that have never been used. Swap gifts without spending a cent!
-
- Don’t buy gifts but rather adopt a needy family or two and make up a gift package for each.
-
- Donate your extra flyer miles as a gift.
-
- Buy membership to a local museum or zoo as a gift to a family or individual.
Save on outings and entertainment
-
- Save your money for a family trip during the “off” season. Put some travel brochures and maps for your planned trip in a gift bag. For the children, give one or two small, inexpensive items that can be used during the planned holiday. Remind them that memories last much longer than gifts.
-
- Purchase air tickets in advance and on airline websites to avoid booking fees. Check out car rental prices. It is sometimes cheaper to travel by rail, air or bus than paying for the wear and tear on your own vehicle and high toll road fees.
-
- Stay at home and invite other holiday orphans and friends over for a braai or picnic and swim (if you have a pool) or movie, game or music night.
-
- Check out the sights in your own city. There are often cheaper holiday outing options close to home than at expensive holiday destinations.
-
- Forget about hosting the traditional expensive, sit-down holiday dinner all by yourself. Keep it simple and delegate each course of the meal to family members right down to table decorations and the inevitable after party clean-up!
Sources
Holiday spending survival guide. Retrieved from: http://mycornerstone.practicalmoneyskills.com/personalfinance/savingspending/budgeting/holiday_survival.php
How do you stay on a budget during the holidays? Retrieved from: http://www.realsimple.com/magazine-more/inside-magazine/your-words/how-to-keep-a-holiday-budget
Wong Ulrich, C. Four week holiday savings plan. Retrieved from: http://www.realsimple.com/holidays-entertaining/holidays/christmas/holiday-savings-guide