9 ways to reduce Christmas spending this year

reduce Christmas spending
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With the holiday season right around the corner, the pressure to purchase gifts for everyone else in your life can become overwhelming. This year more than ever the focus will be on how to reduce Christmas spending.

Deciding what to get everyone else is only half the battle; figuring out how to spend your money without going broke at the same time is another beast entirely. While it’s easy to let our desires get the better of us at this time of year, and that can leave you with a mountain of debt and stress by New Year’s Eve. And while it’s great to show the people you love how much they mean to you and why you want everything from their lives to be as joyous as possible on this special occasion, that doesn’t mean you should simply overspend in order to make an impression.

Make a plan before shopping

Before you take the plunge and start buying presents, you’ll have a much better idea of what you can afford. This can help you stay within your budget and decide what you truly want to give to the people in your life. Tackle your holiday shopping early in the year so you don’t get caught up in the rush. Set up a calendar on your computer or download an app to track your shopping schedule. This will allow you to see what you’ve got left to do and make sure you don’t miss any important deadlines or events. You’ll also be able to put any excess money towards your holiday shopping right away.

Stick to a budget

If you don’t set a budget, you’ll never stick to one. Trust us; you’ll end up spending more if you just let it happen. Begin tracking your spending now, or set up a budget in your online budgeting tool of choice. Make sure you stick to it, but also make allowances for the fact that budgets rarely work as well as you expect them to. This is particularly true at this time of year, when people are more inclined to spend more than usual. Before you know it, you’ll be spending more than you can keep track of, and that will leave you with a mountain of debt by New Year’s Eve.

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Don’t be afraid to say no

Some of your best friends may be the ones who are willing to say “no” to you when you’re about to spend too much money. This may feel a little awkward and uncomfortable, but you’re more likely to get what you want if you don’t keep adding things to your wish list. Before you ask your friends to help you buy a new guitar, or a row of vintage bicycles, make sure you’ve got everything on your list that you really want to give them. If you exceed your budget, it’s better to leave some things off than go into debt. Even if it means that you’ve got to wait longer to give them their presents.

Redeem points and gifts cards

If you have store card points or gifts cards lying around unused now is the time to use them! Make sure you know what the card’s balance is and how long it’ll take for that value to be eaten up. This can help you avoid buying something that’s too expensive. You can also use the card to get yourself something small and unexpected, like a coffee to help you stay focused and on budget while doing the Christmas shopping!

Recycle gifts

Chances are that people you know have a few things sitting around at their houses that are still in their original boxes. This could be something that your friends have been collecting for years, or something they bought for someone else and have been impatiently waiting for them to open it. This is a great way to get something inexpensive and useful. For something a little more personal, you can ask your friends what they’d like most in the world. You can also make a spreadsheet mapping out all of your friends’ likes and dislikes, then simply send them a box filled with all the things they’ve expressed interest in from your secret stash of unused presents. This is a great way to put a little thought and consideration into a gift that means a lot to someone in your life.

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Gift preloved

Some of the most cherished gifts come from unexpected places. This is especially true for gifts that are something your friends and family members have been wanting for a while. You can find these gifts in unexpected places, like at thrift stores, garage sales, or even on Craigslist. You can also scour online stores like eBay and Amazon for deals and sales that allow you to buy something new and still get it for less than it would have cost new.

Consider a homemade gift

Once you’ve established your budget, you might be anxious about how you’re going to give your loved ones a gift they’ll truly treasure. Our best advice is on making sure you don’t overspend during the holidays is to focus on what everyone on your “nice list” values, and then find a way to either make or purchase something that fits the bill (literally).

Homemade gifts can be a great option because they show that you not only care enough to give someone a gift, but also care enough to spend your precious time making it yourself (we all know how valuable our time is).

For example, if you know your loved one is redecorating their apartment, get them cheap canvas prints from CanvasPeople with their favorite pictures printed on them. If someone you care about is a serious spa devotee, try making them a homemade bath bomb with their favorite essential oils.

At the end of the day, it’s all about finding ways to give gifts that come from the heart.

Create a “Treat Yourself Fund”

This may sound a little out of the ordinary, but it’s still a great way to get a little something for yourself, too. You can create a treat yourself fund and earmark that money for treats that aren’t necessarily related to your budget. This could include things like Christmas drinks with the girls, getting a fancy manicure for a Christmas party, or taking a day trip. This money can help you get a little something while helping you keep your spending under control, without taking it out of your regular budget. If you find that you’ve got a little money left over after you’ve already taken care of all of your other holiday expenses, you can always treat yourself to something small. This money can always be transferred back into your regular budget when the holidays are over, too.

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Get everyone to chip in

Gifts aren’t the only things that add up during the holidays. As the saying goes, there’s no such thing as a free lunch (or a free holiday feast). An unfortunate part of adulthood is realizing that it’s expensive to cook up a traditional holiday meal. This is why potlucks are your best friend.

Take a look at these tips to make your potluck go smoothly:

  • Make a sign-up sheet
  • Ration your oven space accordingly
  • Don’t forget serving utensils

Whether it’s a gathering with friends or family, potlucks make the whole event more affordable and easier to manage, so it’s really a win-win.

Conclusion

With the cost of living crisis weighing down on us all, we are all looking for ways to reduce Christmas spending this year. Whether you decide to go preloved, swap unwanted gifts, stick to a budget or just say no, there are plenty of ways to skin this cat!

This post was featured by Twinkl in their Thrifty Christmas Guide

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