A Christmas celebration does not need to break the bank. From potlucks to gifts, you can enjoy the festive season with full spirit. Ideally, you should have enough earmarked cash to ensure that you will be able to meet all Christmas expenses. Unfortunately, most people fail to set aside enough money, although this is a planned expense. Experts suggest starting to stash away money from the beginning of the year. If you keep saving money in dribs and drabs, you will be able to have sufficient cash to enjoy Christmas.
A Christmas celebration can cost you a lot of money if you do not properly plan. Shopping is expensive during the festive season because prices are hiked. Despite discounts, you will end up paying a lot more money. Therefore, you must create a budget. Make sure that your budget is practical. Refer to your previous years’ Christmas expenses to have an idea of how much money you need.
Well, if you have not saved enough money for Christmas, it’s not too late. You can still stash away some money to celebrate Christmas with gusto and bonhomie. As long as you create a budget, you will be able to have enough money for Christmas spending. Make sure that you create a budget after identifying what you need for the celebration.
It is quite challenging to estimate the actual sum of money to celebrate Christmas, but if your savings are short of some cash, you can consider Christmas loans in Ireland. These small loans will help you bridge the gap in your savings. Make sure that you have the repayment capacity to discharge your loan.
7 easy steps to save money this Christmas
Here are the ways to set aside money this Christmas:
- Shop during Black Friday
If you are looking to save money, you should consider buying things on Black Friday. This is the easiest way to save money. Most people miss out on these deals. Similar to Black Friday, Cyber Monday is the best time to purchase goods at lower prices. This is the best time to buy big-ticket items. You should be a little proactive.
Do not miss out on deals because it is highly likely that the item you need has already been bought by someone else before you show up in the store. You still need to be very careful about your budget. There is a high chance that you will end up overspending.
If you are looking to buy presents for your friends and family, Black Friday and Cyber Monday sales will certainly help you save a lot of money.
- Do a secret Santa gift exchange
If you own a big family and your budget is not luxurious, you should try to do a Secret Santa gift exchange. According to this system, each person in your family buys one gift for someone else in the group. This reduces financial burden on your pocket. Now you are responsible for buying only one person in your family a present.
Each member in your family would get a present without causing a lot of financial burden. This is the best thing about this process. However, you should set a price cap. Because you are to buy a present only for one member rather than all, you might be tempted to break the spending limit.
- Choose experience over material gifts
You should choose experience over material gifts. Try to purchase gifts that last longer. If you have selected a gift that you know someone in your family needs, you should buy that gift, ignoring the fact that it is not so expensive. The value of a present does not need to be determined based on the price tag, but it should be calculated based on the experience it offers to the recipients.
When looking for gifts for your family members, you should try to choose items that they need. You can ask them in advance what they need. Even if it is just a pair of pyjamas, you should not be shy about buying them. It makes more sense to buy something you need.
- Plan a potluck Christmas meal
Hosting a Christmas meal can cost you an arm and a leg. It does not sound complete without turkey, veggies, Yorkshire pudding and the like. Sometimes, the meal includes everyone’s favourite dishes. This makes the meal more expensive and time-consuming.
If you want t save money, you should arrange a potluck meal. Everyone who is attending a meal party should bring special dishes from their homes. This will reduce the burden on you of making dishes for everyone. When everybody brings dishes, drinks or desserts, it not only helps you regale with a luxurious meal, but it also helps save you a lot of money.
- Reuse and repurpose
Decoration is a must, but it is expensive. However, there are certain ways to reduce the cost of it. You should try to use a strategy of reuse and repurposing. Take stock of your existing decorations. Before you buy anything new, figure out if you actually need it.
It is not necessary that you fill the entire place with decoration. Less is more. Focus on sophisticated decoration. This will make your place look good and yet will not cost you a lot of money.
- Keep energy costs low
Energy bills are always a concern after the Christmas celebration. If you are already on a tight budget, you should be very careful about high energy bills. Heating and decorating lighting can immediately hike your bill. Be mindful of your energy consumption. You should use less lighting. It is not necessary to make your whole house full of bright light.
If you use a heating system, make sure that you do not keep it turned on throughout the day. Turn it off from time to time. This will help you save a lot of money on energy bills. Lighting is necessary to decorate your house, but be careful. You should switch from traditional lights and bulbs to LED lights. LED lights consume less electricity and therefore result in a lower electricity bill.
- Explore low-cost family activities
A Christmas celebration is incomplete without family activities. You really do not have to spend a whopping sum of money on entertainment. You should rather determine fun activities that you can do with your family without shelling out money. For instance, you can look for free local Christmas light displays, winter walks, community events and so forth.
If you do not feel like going out, you should plan a cosy night with your family at home, watch a favourite movie, drink a hot chocolate, and eat popcorn. To have fun on Christmas, you really do not have to spend a penny.
The bottom line
If you want to save money this Christmas, you should create a budget. Once you know how much money you want to spend and where, you can easily stash away money until Christmas. In addition, you should find out ways to save money on energy bills, reuse and repurpose old decorations, pursue low-cost fun activities, do a secret Santa gift exchange, plan a potluck Christmas meal, and shop during Black Friday.
