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Your bank account doesn’t have to suffer just because you want to give Christmas gifts.

Use these five tips to help you save money while still making your loved ones and friends happy with the holiday presents.


Determine your Christmas budget

As hard as it can be, still one of the most effective ways you can budget your money this holiday season is to actually create one. A specific budget set for your holiday spending is what you need. Determine as soon as possible the total amount you can spend for gift giving. This way you can be financially prepared. During the weeks or months leading up to Christmas, put excess cash to your Christmas fund.


Make a list of names and set an amount limit for each gift

List down exactly what you want to buy for each person on your list. This activity will prevent you from impulse purchases. Another advantage is you’ll be able to keep track of the amount you can afford and stick to your budget better. Creating a budget and sticking to it will make your Christmas goals a reality!


Stick to using cash when you shop

It could be very tempting to use credit this holiday season with a lot of promos going here and there. Using your credit card could lead you to impulse shopping causing you to spend more money. Below are some benefits of paying with cash:


  • Put limits on what you buy
  • Forces you to live within your means
  • Provides you awareness on your expenses


Maximize your gift budget by using discount vouchers and online deals

There are a lot of deals that happen during the holiday season. If you’ve made your Christmas gift list and found any on a special offer, buy it. Also, don’t forget to compare prices from different stores. This step will take a few minutes of your time but is a great money saver. However, be wary of amazing deals too. Some will only cause you to spend more money instead of saving.


Don’t be in debt just for gifts

Gift giving doesn’t have to be an obligatory task every Christmas. If the budget is tight, a thought greeting, or gesture may be the answer. Focus less on the material things and more on the celebration. It’s wise not to be in debt just to be able to give presents.




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