6 Money-Saving Hacks for the Holidays

by juliannecronin

6-money-saving-hacks-for-the-holidays

The following is a guest post by Julianne Cronin of The Wink.

The holidays are upon us! It’s officially December and visions of sugarplums are dancing in our heads. The one thing that’s not great about the holidays? Those anxiety-inducing credit cards bills come January 1st. Keep your holiday season stress-free with these easy, money-saving hacks!

Set a budget and stick to it. This is, of course, the most important rule for saving money during the holidays. Allot a total amount of money to spend on all Christmas gifts; buy gifts for your family, children, and close friends first, and use the remainder on gifts for co-workers, neighbors, etc.

Use the cash-only method. Set your Christmas budget this year, and then withdraw that amount in cash. Make all your gift purchases with cash, and when the money runs out, you’ve reached your shopping limit. It’s a great way to quantify the amount you have available to spend, and may make you less inclined to make those at-the-register impulse purchases.

Don’t get sucked into ‘keeping up with the Joneses.’ Around the holidays, it can be all too easy to live beyond your means, charging purchases with the swipe of a credit card with the “I can pay it off later” mentality. Don’t get sucked into keeping up appearances – if someone gifts you a super swanky present, it’s not necessary to return the favor. Gift what you can afford now and feel good knowing you won’t start the New Year with massive credit card debt!

Shop Totspot. Did you hear? Totspot has amazing deals on clothing, now for the entire family! You can also offset the money you’re spending on gifts by selling your family’s gently used clothing, all through the app! Check out these amazing closets for some serious shopping inspiration:

Consider consumables as gifts. Some of the best and most thoughtful gifts are the ones that are homemade. A beautifully-wrapped package of homemade cookies with a personalized note makes a wonderful gift that warms the heart and is easy on the wallet. For an extra-special touch, include a handwritten recipe card for the treats you’re gifting, so your recipient can add them to their holiday repertoire next year.

Buy only one gift per person. Cut out excess and only purchase one gift per person this year. Not only does this idea subscribe to the KonMari method, it will be easier to appropriate your funds to one substantial gift instead of many smaller gifts.

What are some of your money-saving hacks for the holidays? Let us know in the comments section below!