The holiday season, although a time of joy, can be quite stressful if you’re not organised. Here are five ideas that could help you enjoy the holiday break, whilst saving for a deposit for your first home.
Give Yourself a Budget
The art of gift giving can get quite expensive if you aren’t making thoughtful, reasonable decisions. First of all – you don’t need to spend that much to give a good gift. Writing a list of all your gift recipients is the first step to getting organised. Next, decide on a budget that you feel is affordable and appropriate for your financial situation. Don’t overspend or spend outside of your comfort zone. If you have a partner, the best way to cut back on gift costs is combining your present budget. Together, you can rein in your other spending and readjust your spending to make room for the Christmas celebration costs.
Prepare Events in Advance
If you’re from a family that holds festive events, make sure you know your role! Although it’s not the end of the world when two households bring the same dish to the family lunch, it’s something that could be avoided. Allocating your Christmas menu can help cut down on unnecessary costs and wasting food. Knowing exactly what you’re expected to bring can help you budget your spending in advance and be prepared.
Remember – many supermarkets and retailers close on Christmas so make sure you get your shopping done early to avoid the last-minute shopper crowds.
Give Yourself a Theme
If you’re a lazy gift giver, try giving yourself a present theme for the year. For example, you purchase all of your gifts in bulk from one retailer or buy your recipients similar gifts. Buying in bulk can help you reduce shipping costs and the hassle of finding and purchasing many different presents (especially for young children). Bulk buying wrapping paper and Christmas decorations is another savvy way to avoid last minute trips to the shops.
The Gift of Thoughtfulness
For those who prefer to give little gifts of joy, here are some ideas for you! Baking treats for your family and friends is a great way to share joy to another household and save cash. Homemade gifts such as Christmas ornaments and decorations not only double as a gift but also can help keep your kids occupied while you focus on your own tasks. If baking and crafts aren’t your specialty, maybe thoughtful gifts might be something to try. Is there something you can do for someone that they haven’t got around to doing, such as fixing the fence, weeding the garden or babysitting the kids for a night? Lending a hand on those forgotten tasks can be a great help and take some pressure off those who need it.
Gift in a Group
A bigger, more expensive gift doesn’t have to be off the table just because you’re on a budget this year. So, just go in on it with someone else! Get all your siblings in on buying one big gift for your parents. Join forces with work colleagues to go in for a nice gift card for your boss. They say sharing is caring, after all. And sharing the cost of one big present is a great way to give well—while still caring for your budget.