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christmas caving planning tips

Five Christmas Tips to Help You Save Money on Gifts this Christmas | Your Money Habit


Spending at Christmas time is something that creeps up on everyone at the last minute and most of us forget to plan our purchases. It is important to think carefully about what you are spending and the Christmas gifts you plan to purchase so that you don’t end up overspending or adding things to your credit card.

It is possible to cut the expenses this Christmas and save without cutting out the fun.

  1. Before shopping discuss with friends and family on your present list what they might like and then research and shop around at different stores to compare the best prices. It is surprising what great deals they can find when shopping online. Perhaps you may even agree with certain friends that you won’t exchange gifts this year.
  2. Homemade gits are often the most thoughtful and they don’t cost much at all. Do you have a homemade family cookie or dessert recipe or another Christmas themed treat that can be made into gift bags for colleagues or other significant people? Maybe you have a green thumb and can share a nice potted plant you’ve been growing.
  3. Consider a Kris Kringle or Secret Santa if other people in your family are also on a budget with money this Christmas. Set a maximum price in advance to keep track of costs or collect a pool of money and buy presents that way.
  4. Instead of giving gifts no one remembers, why not create a lasting memory- a particular activity or a holiday destination that is affordable. There many discount websites with vouchers on restaurants, day trips to the Hunter Valley, spa days and outdoor activity deals.
  5. Giving gift cards is another great present as it’s quick to buy and you know the exact cost you are spending. This way, your gift recipients, can put the gift card towards a higher priced item instead of buying the whole item themselves.

Just after Christmas, why not decide on an amount of money that you want to put into a savings account specifically for next Christmas (just an online account not a Christmas club). Then you will have 52 weeks to prepare for next Christmas!

Don’t take a debt hangover into the New Year!

Find out other tips for saving this Christmas here


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