Holiday Money Saving Tips
The holiday season is officially here! While money is tight for many of us this year, there are some ways to save a little bit of money.
Reuse wrapping paper and gift bags
Even though it’s too late now to go back and save the wrapping paper and gift bags from earlier in the year (although you can start saving this Christmas/Hannakuh for next year!), recycle the wrappings from any gifts you get between now and the holiday from work parties or friendly gift exchanges. Sometimes even the bag from the store in which you purchased the item can be fancied up with a little tissue paper and ribbon!
Get creative with your wrapping paper
When I was little, my mom would wrap presents in the comics from the newspaper. If you don’t get the newspaper, you can always use magazine pages, decorated paper bags, or by decorating computer paper or butcher paper if you have access to some.
Give homemade gifts
This is especially appropriate for co-workers and/or a boss. I don’t know anyone who wouldn’t enjoy getting some homemade baked goodies! Parents and grandparents also love homemade crafts from their children, especially if there is a picture of the child involved (such as a frame ornament made out of popsicle sticks) or the child’s handprint. For tons of great ideas for things that children can create, visit Amazing Moms.
Postcards require less postage to mail, and spread holiday cheer just as well!
Use a Smartphone App
Check out apps such as ShopSavvy or Coupon Online Codes, both free. ShopSavvy allows you to scan the barcode of a particular item and then tell you where else it is being sold (including online) and how much it costs, saving you a considerable amount of driving all over town to compare prices. Coupon Online Codes allows you to search hundreds of retailers for coupon codes to use towards your online purchase.
Give up Starbucks
If you cut out your coffee, lunches, and dinners out for a month, the extra money can be put towards gifts at the end of the month. You can do it – it’s only a month!
Split the Cost of Gifts
For example, go in with your siblings to purchase something for your parents. Chances are that you can get a decent gift for less of a contribution than you would have shelled out on your own.
Set a Dollar limit
Talk with your family members/co-workers/friends ahead of time and agree on a set amount that you will spend on each other. This way, everyone knows what to expect and no one has to worry about “outspending” anyone else.
Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.