The holiday season is finally here! This is a time to get together and celebrate with family, and it is the season of giving. Giving is a wonderful feeling, but can certainly take its toll on the bank account. However, there are some steps that can be taken to be sure that you can have a wonderful holiday without going broke!
One of the first ways you can ensure savings is to pre-plan a budget. Before going out shopping for family and friends, create a list. Include all the names of people you plan to buy gifts for, along with some gift ideas for each, and a spending limit. Once you have you done this you can begin buying gifts for each individual. It is important to track your spending as you go. Chime’s mobile banking app is a great way to track your spending and be sure you are not going over your set limit.
The second way to cut spending during the holidays is to look for special holiday deals. This is why creating a list ahead is important. Once you have some gift ideas for each person, you can do your research to find the cheapest place to purchase. Often times there are rebate sites, like Mr. Rebates that you can buy from and receive cash back.
Finally, you can save by coming up with creative gift ideas that can be significantly less expensive. You could sew or knit something for a family member, or create a painting or craft for them. These gifts are unique and sentimental! If you are not the artistic or crafty type, do not fret, check out some additional tips for saving during the holidays below!