Budgeting for the holidays.
Budgeting for the holidays. Ways to save money this Christmas
Believe it or not, it is not too late to save money this holiday season. There is still time to make sound financial decisions and save your wallet this Christmas. Most of you have already spent most if not all your holiday budget on Black Friday deals, but there is still hope and a few things you can do to keep the holiday spirit alive this season without incurring debt or running into financial difficulties. Here are a few pointers to help you and your wallet get through the festive season.
1. Think Realistically
The holiday season has a reputation for being a time when people go overboard, but this does not have to be the case. Consider the following realistically:
Consider how many parties you intend to attend or host and how much it will cost to do so. Is it really necessary to attend or host all of these? Perhaps some of the gatherings could be rotated from one year to the next or perhaps it is time to gently bow out. If you insist that you must host all these events, consider cutting costs by having a potluck. Contact everyone who will be there and devise a plan for everyone to bring a dish to share.
Also consider the number of gifts you can realistically buy. It can be quite costly to purchase gifts for your entire family. You can either focus on purchasing gifts for only the children or create gift giving games with your family where you do not have to purchase all the gifts yourself. Consider having an exchange of gifts with a price limit. Not only are these cost effective, but they are also fun to do as well. Get creative!
2. DIY presents as much as possible
It is wonderful to receive a present and know that your friend or family purchased it with you in mind. It is, however, quite another to know that someone took the time, and possibly the talent, to produce that gift for you. Consider gifting one of the following homemade gifts:
Paintings, sketches, and drawings make excellent gifts if you are artistic. However, keep it small. Memorable presents include framed images or snapshots with a link to the recipient. Foods like ham, turkey, fruit cakes as well as baked goods, are usually a hit.
This festive season do not overlook one of your most valuable assets: your time. Offer to help with house chores or babysit, and you might just become known as the best gift-giver in the neighborhood!
3. Monitor your spending using online banking or by using debit cards when possible
Online banking and the use of debit cards is a great tool to keep track of and control your spending. This allows you to keep track of how much money you have spent and how much money you still have. This will ensure that you stay within your budget for those who have not gone overboard, as well as making you more aware of your swiping activities.
Using debit cards is an excellent way of saving money as it can only be used in places where it is accepted so if you are tempted to purchase items you do not need from the corner shop this will save you money as you do not have the hard cash to do so. It is also an excellent advantage that your Jannou Debit Card account is separate from your shares and deposits; this means that when you swipe, you are only using money from your debit card account, and not from your other saving accounts. After you have created your holiday spending budget, place all money you wish to spend on this account, when this money is done so should your spending. The online services allow you to keep track of that money and to monitor your budget and spending.
