The year has come to an end and we are inching closer to the holiday festivities. If you have been saving all year round, you might be feeling confident that you will maintain that same discipline to continue saving over the Christmas period. But how viable is that? If it’s not travelling upcountry, it is your friends calling you for a random plan to spend time together.
Meetups, buying Christmas decorations, gifts, hosting parties, and being charitable all require spending money which will derail your saving plans and routine. Do not worry. You are not the only one going through this challenge. Whether you are building or buying a house, having a plan in place will help you
It is hard to enjoy the holidays while you are panicking about how much you will save to afford your dream home. If you are asking yourself, “How can I save during the holiday season?”, there are a number of things you can do to ensure you don’t overspend.
Cut Down on Your Spending Habits
If it is mandatory you engage in holiday activities, prior planning and knowledge on how to save money during the Christmas season will help you enjoy your holiday without it affecting your saving plans of buying a house.
For instance, if you plan on spending most of your time out of the house with family and friends, you can avoid renewing your internet subscription. If you have to meet up, why not organize a potluck lunch where everyone carries a different kind of food? If your parents offer to give you leftovers, don’t be afraid to carry them home. No matter how small the changes may seem, they will go a long way in helping you spend less and save more during the holiday season.
Be Open With Your Family and Friends
During the Christmas season, it is not easy to maintain the discipline and focus to consistently save every month when you are planning on buying a house. The simplest way to stay on course is to inform your friends and family about your saving plans. Even though you don’t want to share such personal information, sometimes it is the easiest way to do it to get people off your back. Because always saying no to their invitations will have them questioning why you don’t want to spend time with them.
Having open communications with your family and friends about what you can and can’t do won’t put a strain on your relationship post the holiday season. They will also appreciate you being honest from the get-go.
Look for Cheaper Activities
There are families who always have to give each other gifts during the holiday season. If your family is one of them, you can look for Christmas gift ideas that are not expensive for you. Alternatively, you can offer to cook a meal in a small family gathering set up or have an outing at an affordable restaurant. Anyone who participates in the outing should pay their own bill to avoid overspending on something you hadn’t planned for.
As for your social circle, you can participate in secret Santa and having a limit for the maximum spend instead of buying your friends and coworkers separate gifts. Another way to save money is to shop by redeeming your points from the supermarket instead of paying cash.
Look Out for Sales and Coupons
Many shops and sellers hold sales and give discounts on their items during the holiday period. That is why you need to be a strategic shopper. Getting the perfect gift is time-consuming. It won’t be as easy as going to your favourite store to pick something up. If you want to get items cheaply, you can sign up to their mailing lists to get the offers in your mailbox firsthand. Then unsubscribe later to avoid impulse shopping after the holiday.
Recycle Your Outfits
There are many formal gatherings and parties which happen around this time. The theme to your office party could be a black tie event. You might also want to attend your friend’s office party. Don’t forget it’s wedding season. All these events require you to look good. There is no need to have a separate outfit for each occasion. No one will notice you are wearing the same outfit. And if they do, well, so what? You’re the only one who knows why you are not out here shopping for different clothes for every occasion.
Buying a house is a huge investment. We hope these tips will help you to meet your saving target over the Christmas period.
Enjoy Your Holidays!