The holidays are a very special time for people around the world. The holidays are the perfect time to show appreciation to your family and friends. A great way to do this is by getting everyone important in your life a special gift. Unfortunately, this can completely wreck the budget if you are not properly prepared. Here are four financial tips to help you save for the holidays.
Start the Process Early
The holiday season is the same time every year, so it should not sneak up on anyone. The potential financial burden can easily be avoided by planning, saving, and shopping as early as possible. Buying one gift after every paycheck is a great way to get all of the gifts without having to put out a lot of money at one time. The end of summer is the perfect time to start planning for the holidays.
Consider Handmade Gifts
Not all of your gifts for others have to come from store shelves. You could add a personal touch by making things yourself for loved ones. Taking up embroidery and using applique designs, for example, could allow you to create a range of things including clothing, hats, scarves, dresses, blankets, rugs, and so much more. The fact that time and effort were put into their gift is certainly something the recipient will appreciate. It’s all about finding an idea and learning the skill necessary to carry it out. Of course, you will save yourself a lot of money doing it this way!
Splurge Less Often
The holidays are all about showing your appreciation for others. If you are struggling with money, then you may have to make a few selfless sacrifices in order to make it happen. Avoid treating yourself for a few months so you can get your loved one that diamond pendant necklace that they’ve always wanted, or that new phone, or even book a trip for you all to enjoy. A great way to save for the holidays is by spending less money on yourself. Making coffee and lunch at home instead of going out will help you save hundreds of dollars over the course of a few months.
Shop the Sales
The last few months of the year are the busiest shopping times of the year. This forces stores to compete for business by offering sales on popular items. Take advantage of these holiday sales to save some money. Additionally, make sure to check for any other coupons or promo codes that stores might have. For example, a lot of people seem to shop at Walmart for their gifts, so it might be worth seeing if Raise (click here) has any coupons that could be used for some money off. The person receiving the gift will not know or care that their present was bought using a discount. It is much easier to shop the sales if you know exactly what you want to get all of your friends and family members.
Stick to Unconventional Gifts
When I say unconventional, I am obviously talking about gifts you can’t find at the mall and not the different roleplaying outfits you can buy in different themes (unless you’re into that). Unconventional? Sure… But still pretty expensive. There are plenty of ways to show your love during the holidays without buying an expensive gift. A heartfelt handmade gift will likely be cherished more than something that can be purchased at a store. If you do not have the ability to make something crafty, then you can always honor your loved ones by making dinner or participating in their favorite hobbies with them.
About The Author
Yuri Vanetik is an Entrepreneur, Private Investor, Coalition Builder, and Philanthropist in Orange County, California. He is the Managing Partner of Vanetik International, LLC, a management consulting firm which offers advisory services and strategic planning to businesses and industries. He is also the Managing Partner of Dominion Asset Management, a technology-driven opportunity real estate fund that invests in undervalued real estate throughout the United States. Yuri Vanetik brings over 20 years of professional experience in a variety of roles, and has been featured in notable publications, including the Wall Street Journal, California Business Journal, Bloomberg Law, and Forbes.
