Are you looking for ways to save money for Christmas gifts. Don’t let Christmas take you by surprise! You have 364 days to save for Christmas and avoid going into debt.
Here are all the ways you can save money to buy Christmas gifts.
7 Ways to Save for Christmas Next Year…Now
Start by dedicating a specific place to put your Christmas savings. Whether it’s a savings account at the bank, an envelope in your home safe or even a cookie jar.
Make A Budget Cut
Review your family expenses and find something to cut out. Cut out cable or reduce your cell phone minutes. If you reduce a monthly expense by $20, put that automatically into savings and by next Christmas, you’ll have over $200.
Start Buying Now
The day after Christmas is the best time to start filling your gift closet. There are many items significantly marked down or on clearance. Buying items on clearance and spreading your purchases out, will help reduce going into debt during the holidays.
We are starting this week making presents for my nephews and sister. I have a Pinterest board dedicated to gifts we plan to make this year. There are loads of good ideas that go way beyond popsicle stick picture frames and loom potholders. The fort kits we made a few years ago are still talked about and treasured by my nephews. My mother also received one to keep at her house for when the grandchildren come over to play.
Start Earning Rewards
Sign up for a reward program like Swagbucks and earn points that you can put towards gift cards. Swagbucks allows you to search the web like you normally would, all while earning points. Once you’ve accumulated a set amount of points you can redeem them for merchandise or gift cards.
If you use a credit card, make sure you have a card that does not cost you anything and that you are earning rewards on every purchase. We have a cash back card and at the end of each year we get several hundred dollars credited to our account.
Give the Gift of Time
Take your nieces and nephews on a day trip with your own family. Often the admission price to a fun place as well as the experience is a great gift that he or she may not have had the opportunity to do.
Think outside the box to a local children’s museum, zoo, aquarium, Lego Land, or even an afternoon movie date. Teaching a skill such as cooking or photography is another inexpensive way to give of yourself without breaking the bank.
Pick 2 days next year to have a garage sale. Use these days to get rid of clutter around your house. Commit to putting money earned into the Christmas savings account.
Start taking advantage of items that are free after sales and coupons. Candles, batteries and hair accessories can make great gift basket items for teachers or co-workers. Take the time to use sales and coupons for your grocery shopping and commit to adding every dollar you save, to your Christmas savings.
Change the Way You Give Gifts
If your family buys presents for every single extended family member, start the conversation now to change the way you exchange gifts. One good place to start is by purchasing gifts for the kids (setting a reasonable amount for your budget) and then making something for each the adults.
Give Something Up
This is a great project to do as a family. Sit down and have each member commit to giving something up. Maybe it’s Mom’s coffee purchase on the way to the office or lunch out with co-workers. The kids might choose to cut pizza nights back to once a month instead of every Friday. It could be as simple as ordering water to drink when you eat out.