To say that Christmas is expensive is an understatement. The average family spends over $800 on Christmas each year. Are you already dreading what Christmas is going to do to your budget?
Spending a fortune isn’t required though for a wonderful holiday season!
Here are some tips to help you in your goal for saving money on Christmas gifts:
Set a budget. Do not be tempted to spend more than you can afford. Setting a budget for yourself is a great way to stay on track. A good way to do this is to create a list of all of the people that you need to shop for and then set a budget for each person.
Shop early. Make sure you start early to break the spending up into smaller amounts instead of a large amount being spent in a short time. Those who start their shopping earlier in the year save, on average, over $200 more than those who shop at the last minute.
Shop Clearance. In the time leading up to Christmas, make sure you keep an eye on clearance racks for gifts. You can often find name brand toys and clothes for pennies on the dollar when you shop clearance! Store them in your gift closet until Christmas.
Give Homemade Gifts. Consider giving homemade gifts instead of store bought. Making gifts such as homemade jams and drinks is fun and personal. When you choose food related gifts, they often get used up right away.
Give Group Gifts. If you are shopping for a family, consider buying a gift for the entire family as opposed to each individual person. Consider giving the family tickets to an event or a restaurant gift card, etc. It is likely that this will cost much less than 1 gift per person.
Whatever you do, do not spend more than you can afford. You may have credit cards, but if you can’t pay them off right away, don’t be tempted. There is no logical reason to be paying off your Christmas throughout the next year.