BASSETERRE, St. Kitts – 'TIS the season for overspending! Excessive Christmas gifts and entertainment that drains your bank account faster than you can say Merry Christmas.
Christmas shopping can really wreak havoc on your budget and with the economy in a slump, many persons are not getting that Christmas bonus, and some are even facing salary deductions or unemployment.
There are many who are looking at ways to spend less this season for the simple reason that there is not enough cash to go around and no one knows what the coming year will bring.
There are so many ways to save money, and the holidays are certainly one of those times when we need to implement as many money-saving guidelines as we can.
Believe it or not, you can spend less and still enjoy the Christmas season with a bang. No need to allow yourself to get into end of the year debt.
Here are a few tips to keep you afloat during Christmas and maybe all year long!
PLAN AHEAD
Before making a trip into downtown Basseterre, or even going online to shop, make a list that states who you need to buy for, what you are going to purchase, and how much you are expected to spend, and stick to it. Only allow yourself to alter the list if it is very necessary.
GO BARGAIN HUNTING
There are a lot of great store deals going around during the holidays. Checkout the store flyers or the media before shopping to see what bargains are going to be offered and take advantage of them. Compare the prices from one store to another as one item may be much cheaper at one store than it is at the other.
GIVE TIME INSTEAD OF GIFTS
Instead of giving gifts that would probably end up in the back of the persons closet, try offering your time which is much more meaningful and less expensive. Gather the family together for Christmas lunch or dinner, and make it a potluck affair! Add some music and finger foods and make it a family party! By doing this, it can save you and the other family members a whole bunch of money and make the lunch/dinner much bigger and better.
DO GIFT EXCHANGES
If you feel the need to purchase gifts, a good way to do this without spending a ton of money is by gift exchanges. The entire family can come together, draw names and purchase a gift for that one person, by doing this, everyone gets at least one gift and you get to keep more money in your pocket.
CREATE FUN NIGHTS AT HOME
Entertaining the family by going out can get expensive be it by going to events or even a night out on the town. Instead of going out to the movies or restaurant, why not stay in and play board games, tell stories or drive around town and look at Christmas decorations. Enjoy a movie on the television or online while eating popcorn, cake, or even cookies! When the holiday is over you will be amazed at how much money you have saved!
AVOID THE “SPEND MORE, SAVE MORE” PHENOMENON
Stores often offer great deals during the holidays, one of which is usually “the more you spend, the more you save” deal where you have to spend more money in order to get a bigger discount. You do not always save more money in these cases and in reality, some of what you buy just to get the greater discount is not necessary. Save yourself some money by just purchasing what is necessary and make do with the smaller discount.
Saving money this holiday season might require starting new Christmas traditions and changing the way your family celebrates the holidays, but it is possible with a little flexibility, creativity, and a sense of adventure. Have a happy, thrifty Christmas!
