The holidays are fast approaching, and for many that means a struggle to pull off the most magical season without breaking the bank. We’re all about celebrating, but we’re also aware that doing so on a budget is crucial to avoid the worry and stress afterwards. This week, we’ve got some great tips for the perfect holiday on a budget!
5 Budget Tips to have a Magical Holiday
- The most important thing to do is start with a budget. Even if it is the only thing you do to help curb overspending during the holidays, a realistic budget – one that you stick to – can help you save a ton! First, figure out what you can actually afford to spend. Then, make a list, considering everything you will need to purchase during the holiday season, and give yourself a reasonable amount to spend on each item. Once that budget is set, stick to it like glue!
- Talk with family and friends about the budget for exchanging gifts. Perhaps this year you choose to only do presents for the kids, or perhaps instead of buying for all the adults, you just buy one gift for one person and do a fun game. Just make sure to set limits on these too.
- Use your talents in the kitchen, woodshop or craft room to make gifts rather than buying them. These gifts are often far more personal anyway. Just make sure that the things you choose to make don’t actually cost more than what you would be purchasing.
- Skip the expensive decorations – they can be really costly – and make your own. Head to Pinterest for a wealth of inexpensive ideas for all kinds of decorations. This is a great way to get the kids involved too as there are many that little hands can handle.
- If you’re hosting a dinner, make it a potluck. Instead of trying to cover everything – the appetizers, the main course, the desserts – get everyone to bring their favourite holiday dish. This not only saves money, it can also help eliminate the stress and headache that comes with all that preparation.
The holidays are supposed to be filled with joy and laughter, not sleepless nights worrying about how much everything is going to cost or how you’re going to be able to cover it all. Celebrating the holiday on a budget is much easier than you might think! This year, instead of going all out only to regret such a decision when those January bills start to arrive, make a few careful decisions at the beginning and your bank account will thank you.
Will even careful spending still leave you strapped and concerned about your debt? At Spergel, we can help you get ready for the New Year and a fresh financial start.
Call us today, toll free, for a free consultation: 310-4321.