Money saving tips for Christmas
Christmas is coming and it will soon be the time for celebration with your loved ones. It’s a time feasting and merriment; time spent with your loved ones but if the massive amount of sales and promos going on in malls are anything to go by; it’s looking like a very expensive time too.
Don’t let the lure of sleigh bells in malls get you to part with hard-earned cash unnecessarily, save your Christmas Spirit and bank balance with these tips.
Plan to spend
“If you fail to plan, you are planning to fail” – Benjamin Franklin
Even though Christmas is some weeks away, it is best to plan ahead of time to allow any changes to be made. Make a list of all the people you would like to buy presents for and assign an amount to each of them. After doing so, add it up and if the total sum is within your budget or spending power. If so, stick with it.
If you find that you still have room to increase your total sum, try not to do so unless it is really necessary. The added buffer will come in handy for other things. Your gifts do not have to be anything fancy or expensive as Christmas is about the process of giving and spending quality time with your loved ones.
Give from the heart
While the Christmas spirit is all about being generous, and at times you are happy to play the role of Santa Claus himself, it isn’t wise to spend money you don’t have. Your loved one may have really wanted a plasma TV or a rainbow puking unicorn but if you can’t afford nor find these items; a person who truly cares will understand.
Taking on debt to spend on a lavish gift is not wise as it puts more pressure on the relationship and yourself. If possible, try to give gifts that have a special meaning rather than a pure dollar value gift. It could be anything like a handcrafted or self-made present which can mean the world to your loved one. The best gift after all, comes from the heart.
Of course if you can afford a little splurging, why not? Just ensure you won’t be paying for the gift right up until next Christmas.
Control the Gift-me culture
A trend that has been sweeping the US has found its way to our shores. It’s the ‘buy-a-gift-for-myself’ trend and many shops are cashing in on it. How often have you gone gift shopping and ended up with a bag of gifts for others and three bags for yourself? Sales attendants are well aware that shopping for others can be tempting and you’ll find many (we’ve met a few ourselves) who’ll sneakily suggest “how about a gift for yourself?”
You’ve definitely worked hard and you deserve a little reward but again, that little reward shouldn’t be blowing your budget out of the water and over the hill.
Beware of your credit card
Using your credit card can be very tempting when you are out shopping for gifts. The credit card is everybody’s friend when faced with tempting mall bargains. But it can be your worst nightmare when the bill rolls in. If you have difficulty controlling your credit card spending, try swapping it for a debit card instead or flat out leave the card at home and bring cash.
On the other hand, if you do need some credit, then make sure you reduce the limit to an amount that is comfortable to be repaid. By doing so, it will stop you from making any huge purchases that might blow your budget.
Consider a no-gift Christmas
If you are able to get the rest of the family in on it; why not try a no-gift Christmas? In lieu of the nicely wrapped present; you could trade time, chores and other displays of love that doesn’t come with a price tag.
With time passing by so quickly, Christmas will be upon us before we know it. Besides these tips given, how will you be saving money this Christmas?
Source: Free Malaysia Today
Published: 10 Dec 2013
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