Everyone is feeling the current financial crunch and economic turmoil that has gripped the nation over the past year. This holiday season, many people are choosing to spend less than usual when it comes to gift giving. However, if you stick to a budget and have realistic goals, you can still have a happy holiday. It may require some sacrifices, however, so be prepared.
The first thing that you have to do, even before trimming the tree, is trim your shopping list. Shop only for those people for whom you truly want to buy gifts. Coworkers, relatives that you see only once a year, and neighbors constitute a large portion of many people’s lists. Cutting these people out, while it might seem harsh at first, is a great way of reducing your holiday expenses.
Set a price limit for each person and stick to it. Rather than buying dozens of toys for the children, or yet another electronic gadget for the spouse, choose a few items that are more meaningful. Find a gift that comes from the heart. It shows that you really know them and that you care.
Some other ways to cut down on holiday spending include reining in the spending when it comes to decorating and buying Christmas dinner.
Use fewer Christmas lights on the outside of the house. There is no need to blind Santa when he comes in for a landing! This can reduce your electric bill by more than $20 depending on the size of your house. It is better for the environment too.
When you are in the grocery store and stocking up for Christmas dinner, you might want to scale back how much you buy. Do you really need an entire week’s worth of leftovers? How much of that will be wasted?
Finally, remember to stay away from the plastic. It is easy to go overboard when using a credit card, especially around the holidays. However, if you buy too much on credit you could still be paying off the interest next Christmas.
With a little belt tightening, it is possible to have a wonderful holiday without spending too much and breaking the bank.