Are you trying to avoid a New Year debt hangover this Christmas? For many families, the approaching holidays are something they both look forward to and also dread financially.
Many forget that it is also the ‘longest’ financial month of the year, where we tend to overindulge as we get into the festive spirit.
6 Ways To Have a Fun, Festive, And Frugal Christmas
Without being like the Grinch who stole Christmas, here are some money habits that can prevent you from overspending.
1. Decide On a Present Rule
When it comes to Christmas, we always have that moment of deciding how big we are going to go in terms of the amount of presents and for which family members.
It’s a good idea to sit down early with family and friends and bring up the conversation of presents. Perhaps some family members are going through a bad financial period which would mean buying presents could be an impossible task.
Most families seem to have the “children only” present rule, or set up a Secret Santa to make it more affordable for everyone.
Secret Santa Rules
Draw names out of a hat so that everyone has to buy only one gift. A maximum price is set in advance and everyone has to stay within that budget. The fun part happens at Christmas when everyone has to guess who bought them what present.
2. Make Good Use of Christmas Deals And Vouchers
By making good use of deals by either buying a brand other than your usual brand, or finding a deal that is too good to pass up, you can ensure your Christmas will be a frugal, yet fruitful, holiday.
Most retailers also give reward points on loyalty cards, which can rack up significant discounts on certain products.
Remember, just like recycling used to be considered a chore, buying with coupons and vouchers can become a part of your purchasing process.
3. Switch Your Supermarket
While we all tend to go for the more luxurious food stores this time of year to “buy something nice”, the truth is, the cheaper retailers do go through just as much effort to bring you great Christmas deals.
What could be a delicious pastry or leg of lamb at Woolworths, could just as easily be bought at Checkers and, sometimes, with greater variety.
4. Buy What You Need And Avoid Waste
What is the one thing we all know about Chrismas time? There is always an abundance of food.
While most hosts will like to ensure they provide a plentiful spread, it’s easy to overestimate the amount of food you will actually need.
These portion planners can even estimate how many snacks you will need, based on the hours the party will last for, as well as great snack ideas.
5. Cut The Drinks Bill
The cost of alcohol rises significantly, each year, in keeping with Sin Tax. Christmas is the one time of year where alcohol flows freely and, as a result, so does your bank account.
Make use of wine deals from various supermarkets as well as online retailers such as CyberCellar who offer brilliant festive deals.
Check out their latest article, 6 Wines for your Christmas Dinner.
6. Get Designer Brands At Discount Prices
If you are a seasoned clothes shopper, you know you don’t always have to buy expensive brands to achieve the same look. This goes for tech, household, and other types of products as well.
If you can’t live without your brands, check out clearance and outlet stores where you can find big names like Gucci, Pringle, Mango, Diesel, Polo, Lacoste, etc. for seriously reduced prices.
The products are often available for a fraction of the usual price because they are last season’s stock.