Can you hear Frosty The Snowman playing gently in the distance? Or perhaps you can smell the cinnamon candles just around the corner. That’s right; it’s time for Christmas soon.
If you’re like most people, chances are you find yourself scrambling for gifts every year while trying not to go into major debt. If you’re planning on buying gifts this year and would like to save as much money as possible, then take a look at these tips for reducing your holiday debt.
Shop Early
It helps to start planning ahead of time if you can. Start taking notes several months in advance of what you’d like to buy for your loved ones. If your spouse casually mentions he’d like a shaving brush, write it down! It’s much easier to refer to a list than to rack your brain desperately at the last minute.
Having a list of what you need to get for who will help you keep track of what you’ve gotten so far and what you need to buy. It also helps to have a list for doing comparison shopping. Going to the store without a list can often result in impulse purchases, which you might have found for a better price elsewhere.
Stick To a Budget
One of the best things you can do for your bank account is to set a budget. Creating a budget helps you stay within your set amount and stick to it! Although it may require a little bit of work, it can significantly increase your savings.
You may want to create a budget for yourself several months ahead so that you can put money aside each month specifically for Christmas gifts! If possible, try to arrange Christmas gift spending limits with your family. That way, you won’t feel uncomfortable if one of you buys gifts more or less expensive than each other.
Buy Online
Buying online isn’t just a great way to save yourself tons of holiday stress and long lines, but its also a lot cheaper. If possible, shop off-season so that you can get the best possible deals ahead of the curve.
You also want to make sure that your items arrive with plenty of time to spare before Christmas. There’s no point in setting a Christmas budget if you wind up blowing it all on expedited shipping costs!
Push For a Gift Exchange
If you have a big family, it can cost hundreds to be able to buy a gift for everyone. Therefore, you might want to consider pushing for the idea of a gift exchange.
The idea is that everyone draws a name from a hat and only has to buy gifts for one person. It doesn’t just save you money, but it also saves you lots of hassle!
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