The holidays can be a wonderful time of year when gathering with friends and family. With the multiple holiday parties and gift giving, it’s easy to spend more than you want. Here are some tips to help keep your holiday spending in check this season.
-
Make a budget – and stick to it.
Yes, easier said than done, but it’s good to try your best. Look at your existing budget, and then determine how much you want to spend for holiday parties and gift giving this year. After you get to a number you are comfortable with, make a list of the events and people you may need to buy gifts for, and break out your chosen budget between those. Try to add a little cushion for the unexpected items that may arise. Having a set amount for each individual piece will ensure that your larger budget is adhered to!Another tip to help you stick to your budget – use cash. If you take out your allotted budget as cash, you will always know how much you have left to spend.
-
Use your skills!
Do you have a unique skill that you could put to use? Are you an expert knitter? Can you make a decadent strawberry rhubarb pie? Is your garage a woodworking shop? Using skills you have to make things as gifts can save you a lot of money. Consider giving variants of a similar item that allows you to buy the raw materials in bulk. For example, if you’re a woodworker, consider making cutting boards in different shapes, or if you’re a knitter, use the same pattern but different colors. -
Do your research.
If you have a list of items you need to purchase, make sure you look at multiple places that are selling it to see if one is priced lower than the others. Is one store offering any special sales on the item? Is someone selling one second hand that is in great condition? Doing research on items that you know you want to purchase can save you money! -
Don’t overdo it.
It’s easy to get caught up in the holiday spirit and want to give elaborate gifts and decorate like crazy. Take a step back and look at what you have that you can reuse, and try not to purchase unless absolutely necessary.
Whatever your holiday plans are this year, Saco Valley Credit Union is here if you need us! Contact us today at 207-282-6169.