Guest post from David Bakke of Money Crashers.
The holiday season is upon us, and many people are worried about getting through it without creating a mountain of credit card debt. There are gifts to buy for Christmas, Thanksgiving dinners to prepare, Secret Santa gift exchanges at work, Christmas parties, and other holiday outings like hayrides and tree-lighting ceremonies. Even visiting Santa at the mall can put a dent in your wallet.
To help you manage these costs, here are several simple ideas that will save you money this holiday season.
Thanksgiving
Although Thanksgiving Day dinner is typically a huge meal, there is no reason to break the bank if you are hosting at your house this year.
- Don’t Eat Out the Night Before. This has become a tradition in some families, but it can be a costly venture, especially if you have out-of-town guests. Though you might not want to spend hours cooking the day before Thanksgiving, don’t fall prey to dining out. Better yet, have a family night and order pizza or other inexpensive takeout.
- Shop Early. We all know that Thanksgiving is coming, so start shopping for it early. Check weekly ads for discounts and coupons on the items you’ll need for your feast, and pick up the ones that won’t spoil as soon as possible. This is particularly true of pantry items and frozen foods, which have longer shelf-lives. This can also be a great time to take advantage of discounts by buying in bulk, especially if you have a large family and guests to serve.
- Get Help. The days of slaving over a stove for hours to make a dinner that will be eaten in less than an hour are gone. Enlist the help of your attendees and have them bring their favorite dishes. Doing Thanksgiving potluck style is all the rage and entirely acceptable. Plus, it will lessen your cooking load, your cleaning load, and your expenses.
- Buy Dollar Store Decorations. Shop at your local dollar store for festive decorations, and keep them basic. No one will criticize you for a lack of extravagant holiday decor on this day.
Black Friday
The ways to save money on Black Friday are virtually endless. Here are ideas on how to make the most of already significant discounts.
- Review All Ads. Black Friday sales ads are published online several days beforehand. Review them to find the best deals, and note the opening times of each store you’ll visit so you can plan an effective itinerary.
- Shop Online. If you’ve never done so before, consider shopping online for your Christmas gifts. As long as you go through a reputable retailer, it is a safe and secure process and, more often than not, you can find better prices than you can at physical store locations. Typically, orders over a certain dollar amount will qualify for free shipping. Plus, with websites like eBay or Amazon, you won’t pay sales tax unless you live in certain states.
- Stay Focused. Retailers take advantage of the frenzy of Black Friday to get you to buy things that are not on your list. To make sure this doesn’t happen to you, prepare a detailed shopping list and shop for those items only.
Christmas
Hopefully, after Black Friday and Cyber Monday, most of your Christmas shopping will be done. However, don’t rest on your laurels because there are still ways to save:
- Buy Discounted Wrapping Paper. This is another dollar store item. Most people don’t really care what the gift is wrapped in, and it is all going straight to the recycling bin or trash anyway. Also, consider purchasing next year’s wrapping paper the day after Christmas when it is significantly discounted.
- Purchase Affordable Foods. In addition to the ways to save over Thanksgiving, here are a few more ideas for your Christmas feast. Consider store brand options over name brands, and do your best to prepare only what you think your guests will eat. There is no need to plan for leftovers. For vegetables, serve only seasonal ones, as the price of asparagus and other summer vegetables will be through the roof during winter. Options like broccoli or cauliflower will not only be more cost-effective, but may also taste better because they are in season. Next, choose fresh foods over processed in general. Though you’ll need to spend a little more time in the kitchen, it will be less expensive and you’ll have a much tastier meal.
- Stay at Home. Christmas is a family holiday, so center the entertainment around spending time with relatives. In a nutshell, stay home! Playing cards at the dinner table is free, fun, and a great way to connect with loved ones. Better yet, put together a set of family trivia questions to be answered around the fireplace. I have had more fun with this type of activity than I have ever had going to the movies on Christmas Day. For more ideas, check out these fun and frugal Christmas games for kids and adults.
- Purchase Next Year’s Decorations. You probably already know the secret to saving on Christmas decorations: Buy them the day after Christmas! When you’ve already spent so much money on food, presents, and entertainment, buying items you won’t use for another year may not seem prudent, and yet it is. Lights, ornaments, life-size reindeer, and miniature Santa villages will all be on sale at steep discounts. You can often find top-quality Christmas decor for 75% off or more. Shop early to get the best items; when next Christmas rolls around, you’ll be glad you did.
Final Thoughts
While the holidays can be damaging to your finances, it’s possible to be thrifty and stay within a reasonable budget. Go ahead, get caught up in the excitement, but don’t use this time of year as an excuse to overspend your hard-earned money.
What other tips do you have for saving money during the holidays? Share your budget-stretching ideas with the Faithful Provisions community!
Photo Credit: Shutterstock
About David at Money Crashers:
David Bakke writes about frugal living and smart shopping on the Money Crashers personal finance blog.
