Once again it’s the holiday season. For many families, this means one thing: it’s time to shop! This is also a time when budgets get stretched and debt can pile up. However, there are ways that you and your family can make it through the holidays and stay in the black.
Plan Ahead Before Making Purchases
Before stepping out the door to go shopping, take a moment to go over your expenses for the holidays. Some things to consider include:
- Who do you plan to buy gifts for?
- Are there any major meals that you will be preparing?
- Will you be traveling this year? Where to and when?
Write this all down or use a spreadsheet format. Knowing what your expenses will be ahead of time can help relieve some of the stress associated with the holidays.
Choose Gifts that Don’t Break the Bank
Refer to your list of who will receive gifts. Some ideas to beat high prices include:
- Taking advantage of special sales (Black Friday, Cyber Monday, 70%-off sales, etc.).Looking for “buy two get
- Using reward points from a credit card that can be redeemed as a gift card.
- Taking advantage of coupons. Do a search online for coupons that may be available where you’re shopping.
- Using a membership rewards card when shopping at stores
- Looking for “buy two get the third free” bargains.
Don’t know what to get? Gift cards are a great solution. You don’t have put a lot of money on them ($10-$20) to show that you care.
Be Creative with Gifts
Do you have a special talent for the arts or a craft that you enjoy? Why not harness that talent into a gift idea? A tastefully done handmade gift is thoughtful and will be more meaningful than a store-bought gift. It will not only save you money, it’ll be something you’ll enjoy making too.
Take Steps to Save on Your Holiday Meals
The same thriftiness that applies to gifts is also useful for meal planning. For example:
- Make a list of ingredients you will need for the meal.
- Will you need additional decorations or will you use those you already have?
- When shopping, look for discounted prices and bargains.
- Use coupons from the paper or download them onto your phone from the web.
- Use a membership rewards shopper card to save money.
- Do you have a garden? Consider including foods you raised during the growing season as part of your holiday meal.
Save Money on Holiday Travel
If you are traveling and need to book reservations, do it now! Flights fill up fast, hotel rooms get booked, and the costs go up the closer you get to your departure date. Consider these suggestions:
- Do you belong to an airline rewards program in which you can redeem miles for a flight?
- The same goes for credit cards. Check with your credit card company to see if they have a rewards program that you can use for flights.
- Pack light to avoid extra baggage fees. Some companies actually charge more for carry-ons than they do for checked bags! If your bags are too heavy you may be charged an additional fee. Buy a small scale to weigh your bags before leaving on your trip.
- Don’t rely on one site, compare airfares with other sites to find the best deal.
- Many hotels have rewards programs that members can redeem for free nights.
- Driving? Plan your route ahead of time. Make sure your car is ready for long-distance travel.
The sooner you can make these arrangements the better, not just for your budget but also for your peace of mind.
The holidays don’t have to be a time to go into debt. With some planning and smart shopping, you can survive the holidays in the black and ready to take on the New Year!
Denise Kautzer is a Licensed Professional Clinical Counselor and a Certified Public Accountant whose practice is located in St. Paul, MN. You can view her website at www.denisekautzer.com or contact her at denise@denisekautzer.com.