Holiday budgeting can be tough. You want to celebrate, enjoy the season and give gifts to your loved ones. But there’s only so much cash to go around. How can you stretch each dollar? Use the following holiday savings tips. With the right holiday budgeting, you just might find a few extra bucks in your stocking this year that make all the difference.
Cut back on the treats
You don’t have to go cold turkey after Thanksgiving, but try cutting back on the little indulgences. Save coffee runs for the weekend only. Brown-bag your lunch rather than eating out every day. Skip the dessert or afternoon bakery treat.
You might be surprised at how much money you can save by limiting your spending on these little treats. They add up! And the calories add up too, so you’ll not only save your wallet, you’ll save your waistline in the process.
Use cold, hard cash
When you spend digitally, it’s easier to spend more. A quick click online or a fast swipe of your card, and the money is gone before you can say “Rudolph.” Try using cash this season for your holiday budgeting. Each month, withdraw the amount of cash you have budgeted to spend in each category (groceries, entertainment, gifts, etc.). Create an envelope for each category. Once the cash in that envelope is gone, you’re done spending!
Follow Santa’s example
Make a list, check it twice, then stick to it. Straying from your shopping list is an easy way to blow your budget. If you plan ahead what you want to buy and determine to buy only those items, you can save money. Your holiday budgeting will be a success.
Get a jump start
It can be challenging to think about holiday budgeting before the season arrives, but this is one of the best holiday savings tips. Start early—begin researching and thinking about what you want to purchase for the holidays far before the weather in turns cooler.
This helps in several ways. First, you can spread out your holiday budgeting over several months, so you’re not shocking your budget with big expenses all at once. Second, you have more time to find good deals. You’re not rushed at the last minute and forced to pay high prices. Third, you can start saving. Put a little aside year-round toward your holiday budgeting, and you’ll have enough to meet your holiday spending needs when the season rolls around.
Consider DIY gifts
Maybe you’re not crafty or a wiz in the kitchen. You can still try this holiday budgeting secret. Rather than give all store-bought gifts this year, consider giving homemade gifts. For example, if you attend four Christmas parties, you can save significantly by making a big batch of cookies to contribute to the festivities rather than buying four-dozen cookies from the bakery.
We’ll help fill your sleigh
For more expert insights on how to save money during the holidays, contact the team at OUR Credit Union. We’ve been helping people enjoy financial success for generations. Call or stop by today to learn more about our unique services.
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