Financial well-being October 28, 2015 By
When we first think of budgeting for the holidays, we think of all the gifts to buy! But what about the other costs in the fine print we tend to forget to budget for, like hosting dinners, buying Christmas trees, decorations, holiday cards and more? Below you will find the ten most useful tips I have gathered from America Saves to keep your spending and stress in check. In the world of endless Pinterest possibilities, there isn’t a better time than now to make it a do-it-yourself holiday!
- Bake instead of buying. It’s much more affordable to buy a frozen turkey that you can thaw and bake rather than going with the fancy catered turkey from specialty food stores. It may take a little extra effort, but the money you save will be worth it!
- Keep it simple. Dinner can be special without two different meats, four vegetable dishes and three different desserts. If you plan to serve mashed potatoes and gravy, you can skip the macaroni and cheese casserole. If you plan to make candied carrots, no need to serve candied yams also.
- Form gift exchanges. This many not work with all families, but it should definitely work with friends and coworkers. After all, reducing the number of your gifts you have to buy can save you a lot of money.
- Set reasonable expectations for your family. Talk with your family about keeping gift costs down. You’re likely not the only one who would like to spend less this year. Consider setting reasonable gift limits for friends and family.
- Skip gifts altogether and plan fun activities. How about visiting a Christmas tree farm to cut down your holiday trees? Or, try hosting a potluck dinner which may lead to a new family holiday tradition.
- Make homemade gifts. Think bath products, movie night packages, remote holders, picture frames, and candles. Pinterest has so many great ideas to inspire you. You can knit, sew, glue, fold, stir, or recycle a handmade gift that keeps your spending low and your personal investment high.
- Make gift coupons for your loved ones. Stuff coupons for your children into Christmas stockings. Make them redeemable for time with mom or dad doing a fun activity together, like a trip to the library or anything else your kids like to do. This gives each child quality time with parents and shows how important relationships can be rather than getting more stuff. Coupons for others can be placed in homemade greeting cards to show you care and are thinking of them. Coupons can be redeemed for services like babysitting, or lawn care. Helping out can mean more to the than a useless gift that does nothing but collect dust.
- Share a skill. To make your gift personal, offer to teach your grandmother or an uncle how to use Twitter or Facebook, or arrange for a day where you can teach a niece or nephew how to cook a meal or make that special pie recipe.
- Find a family project over the holidays. Remind your family that the holidays are about giving to others, not just receiving gifts. This is the time to show kindness to others and experience the joy of giving. Some ideas include organizing a pet food drive and donating the items to the local animal shelter. Or encourage your children’s school or your church to collect winter coats or hats for needy kids.
- Make homemade decorations from household items. Popsicle stick reindeer or cotton ball snowmen can bring some crafty quirk into your home. Cranberries can be strung together as garland to be hung on trees. Decorate using items from your backyard (such as pine cones or flower clippings) or local farmer’s markets (such as hay bales) which are often sold at a lower price.
Find more inspiration here on Pinterest.
