The holidays are right around the corner, and since the average American spends over 1,000 dollars on gifts and travels over the holidays, it’s a good time to do what you can to save a few bucks. After all, you work hard for your money, so why waste it? If you want to make it through the winter without a depleted bank account, then check out these three helpful ways to save money during the holiday season.
Coupons and Sales
If you’re planning to buy some gifts for your loved ones, then you should try to take advantage of whatever deals you can find. With the advent of online shopping, you can easily compare prices and find the best sales. The recipient won’t know or care about how much was spent on the gift, so it only makes sense to put in a few extra minutes to buy things on sale.
Track Your Spending
Just because it is the holiday season doesn’t mean you should throw your budget out the window. You should still have a budget although if you planned for it throughout the year you should have allocated more money for November and December than for non-holiday months. So if you are like the average American you should have saved up an extra $1000 to spend. But however much you’ve saved you still have to be careful that you don’t spend more than you planned and that means tracking your spending. This can be done with anything from paper and pencil to an app for your phone or tablet.
People who don’t operate with a budget tend to spend a lot more. It’s easy to lose track of your spending, but a bunch of small expenses can really add up. To save money this holiday season, you should put together a comprehensive budget that realistically reflects your means and expectations. You shouldn’t set a budget that you can’t afford, but you also shouldn’t make a budget that’s so strict that you won’t follow it.
Black Friday and Cyber Monday
These special sale days are a great time to save money on Christmas presents or things you have been planning on buying anyway. BUT you have to be careful that you don’t buy things just because they are on sale. If you save 50% on something you don’t need, or won’t use, you haven’t really saved money… you’ve actually wasted money. So don’t buy impulsively. Plan the things you are going to look for on sale and only buy those items.
Conserve Energy
Use energy-efficient LED bulbs wherever possible and turn them off when not using them. Winters are generally colder so they require that you heat your house. While your heating system can make your home a safe and comfortable place, fuel is expensive, and you can end up spending a lot of money on heat in the cold months. Keep windows and doors closed to keep the heat in. Spending a few dollars on caulk and weatherstripping can save you hundreds on your heating bill. Be sure your windows are actually latched (not just closed) to ensure a weathertight seal. You may want to reach out to a professional for proper heating maintenance which will ensure that your system is operating at maximum efficiency. When your heater works properly, it can burn fuel much more efficiently and save you a lot of money over the cold season.
No matter what you may have for the holidays, there are always opportunities to save money. There is no point in spending more money than you have to, so it’s worth putting in some extra effort to save when you can. While a few dollars here and there may not seem like much, your savings will add up, and you’ll come out of the holiday season in a better financial position.
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