The holiday season can be the very best time of the year. It is often a time of homecoming, celebration, and opportunity to connect with friends and family. However, for many people, the holiday season can also be the most stressful time of the year. There are many reasons for this, but money often tops the list; the holiday season is expensive. People spend close to $900 dollars on gifts each year, and when combined with food and travel, it is no wonder we are all a little frazzled when we check our bank accounts in mid-December. It doesn’t have to be that way. Here are four money-saving tips that can keep cash in your bank account and dial the stress way back this holiday season.
Start a Holiday Fund Early
If you know that you are going to spend $1,000–$1,200 on gifts, food, and travel over the holidays, start saving for them as early as possible. If you start stashing $100 dollars or so each month into a holiday savings account, you will have all the money you need when the holidays roll around. Even if you start a little bit late, that is ok, too; just increase the amount of money that you are saving each month so you meet your goal at the end of the year, and have all the holiday money you need. And if you aren’t disciplined or otherwise able to save each month, any little bit that you are able to stash over the year will make your holiday cash outlays that much more manageable when December rolls around.Make a Shopping List
The worst thing that you can do when it comes to gift shopping is to simply go out, without a plan, and shop away. You’ll more likely than not forget to get all the gifts that you need and end up breaking your holiday budget in the process. Instead, make a list of what you are going to get for each person. Do a little online research to determine how much each gift will cost, and then get an estimate of your expenditures, to ensure you stay within your budget. If you do this early enough, you can watch the papers and internet and hunt for bargains, saving you even more money.
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