With the way prices have increased this year, it is no surprise that we are looking for ways to save money this Christmas. I already have a system in place to save money on groceries, but even that isn’t enough to make up the difference of price increases due to inflation.
I don’t want money to put a damper on our holiday spirit and I refuse to be a Grinch because of our finances. For our kids, this is the most special time of year, and they look forward to it ALL. YEAR. LONG.
So, this year I have racked my brain on ways to save money for Christmas/Holiday meals, gifts, parties, etc.
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Don’t buy for everyone.
I want to start out by saying that I LOVE to Christmas shop! As soon as Halloween is over, I’m ready to make my list and start looking for deals. Once upon a time (a few years ago), we bought gifts for EVERYONE in my family and my husband’s family! I was spending $2,000 on gifts alone!
CRAZY.
Now, as our family has grown, the adults have started doing Secret Santa or the White Elephant Game. This saves money, helps us focus on the reason for the holiday, and is a lot of fun!
Don’t overbuy.
Even if you’re shopping for only a few people, overbuying/shopping can ruin a budget! Limit yourself. I like to choose between one large, more expensive gift or two or three smaller gifts. Whichever I choose, I make sure they are purposeful and thoughtful.
My husband and I have started gifting one another gifts that will fit in our stockings. Neither of us feel the need for grand gifts at Christmastime for one another, just thoughtful ones.
Christmas can still be magical on a smaller scale. In my opinion, a large number of gifts can be overwhelming. My favorite Christmas’ have been the ones where the gifts aren’t the focus, the company is.
Talk to other parents about not buying gifts for kids.
I was approached this year by a dear family member and asked not to buy gifts for her three girls. My response?
Girl, I’m on board.
I asked her in return not to buy gifts for my four kids. We have so many toys and I dread the influx of new toys at Christmastime. Plus, instead of rushing to open gifts, we can now let the kids enjoy playing with their cousins and getting that much needed time as a family. And it saves us money.
Stick to a list and a budget.
I DO NOT shop without my list. I am not an in-store browser and I can’t stand wandering around the stores looking for something to buy someone. That is how my husband shops and it drives me crazy. Thank goodness he only shops for two people, me and his Secret Santa, or he would be shopping for days.
Before I start shopping, I make a list of everyone I have to buy for and how much I plan to spend on each one. And I stick to the list and the budget.
I then compare prices online at the different retailers to find the best price and I also check local retailers to see if they carry what I’m looking for and are within my budget. I admit that I’m willing to pay a little extra to support our town’s small businesses. Shop small!
Buy gifts on sale during the year.
If I find a really good deal on something that would make a good gift, you better believe I’m buying it and storing it until December! Amazon (#ad) lightening deals are great for gift ideas (sign up for Prime for free shipping and so much more).
Another tip is to shop end of season sales if you’re looking for clothing, shoes, or seasonal toys.
Have a “Christmas” account.
This will make things easier at the end of the year! Start by adjusting your monthly budget to include what you plan to save each check. Let’s say $30 per check so $60 per month, if you get paid bi-weekly. Then to make things easier, set up a bank account specifically for Christmas gifts and have money deposited directly from each check during the year. If you get paid bi-weekly and deposit $30 per check, you will have $780 saved by the end of the year.
If you don’t want to set up a separate account, just set that money aside with each paycheck to start saving and shopping for gifts. I like having a separate account because then I’m less likely to withdraw from it during the year; whereas if I have the money in our home, I may be temped to use it for other purchases.
Use rewards points.
We have used an Amazon credit card (#ad) for five years now and I LOVE the return rate of cash back. I shop from Amazon a lot (maybe too much) so I get 5% back on most purchases; 2 % back at restaurants, gas stations, and drug stores; and 1% back on all other purchases. Save up all this cash back each month to spend on Christmas gifts and you could have a good start to your Christmas shopping!
I do need to add that my husband and I strictly follow our “Financial Rules” and we do not have credit card debt. Each month we pay off our credit card to avoid paying fees and interest.
Re-gift
I am not above re-gifting an item that isn’t practical for myself or my family. I can be both thankful for the gifter and practical about the gift being given, right? Regifting isn’t something I do often, but it can save time and money.
I am so grateful to family members that include gift receipts with their gifts, to make exchanges easier! I’ll admit I’m guilty of forgetting to include one! It’s always an afterthought for me!
Shop early.
If you plan on shopping online, I recommend shopping early to avoid higher costs of express shipping to get the gift here on time. I am truly spoiled with free shipping through Amazon!
Don’t send personalized Christmas Cards.
Personalized Christmas cards sell for at least $0.70 each, and that’s the low end of pricing. Sending cards like THESE (#ads) that are $0.27 each are much more practical.
Or don’t send Christmas cards at all. Make a phone call, send a text, bake some cookies. Let your loved ones know you are thinking about them this holiday season, just in a more frugal form.
Homemade gifts.
I don’t gift too many homemade gifts because, honestly, I’m not a crafty person. But, if I did have any little bit of creative and DIY gift ability, I would do this!
Gift cards.
I LOVE when I get a gift card as a gift! Perfumes, décor, knickknacks are all fine and I appreciate the thought. But I’m a practical person and pretty low maintenance. I can use a gift card for necessities, or shop for others using it, which saves my family money!
There is an app, Raise, that has discounted gift cards for sale. Not all are a great deal, but some you can get 20% cheaper than face value! Go to raise.com and create an account. Make sure to use my referral code KRISHO8581 and we will each get $5 after your first purchase (if its within 30 days of signing up).
Limit the spending on a Christmas Tree.
So, artificial is the most economical form of Christmas tree you can get, unless you live on a farm and can cut your own live tree for free. Shopping the after-Christmas-sales can help you find an artificial tree significantly cheaper. You could also purchase a Tabletop Christmas Tree (#ad). I’ll always remember my great-grandmother’s tabletop tree she used every year! It was small but never diminished our Christmas spirit.
Simplify the meal.
My kids would probably be just as happy (maybe happier) with hotdogs and potato chips for Christmas dinner than the grand meal we usually make. I love our deep-fried turkey, mashed potatoes, and homemade cornbread dressing we have every year, but it isn’t necessary for a special day.
If time or money is an issue, simplify dinner. Cheaper and easier meals will still be special. Also, if you have other family coming for dinner, assign dishes. It eases the burden of the host when they don’t have the responsibility of the entire meal on their shoulders.
I hope this helps you get holiday ready as December is quickly approaching! If you are stumped on gift ideas for your young children, please look at The Ultimate Toy List for Kids. There are 100 screen-free toy ideas to help keep kids active, creative, learning, & exploring.
I’ll also add the links to more money saving ideas. Merry Christmas and Happy Holidays!
How To Save Money When Buying Clothing for Your Kids
7 Apps that Will Save You Money
Keep up the good work.