12 practical tips to save money during the 2010 holiday season
The holidays are fast approaching and along with the colder weather comes the opportunity to start saving money this holiday season. Take a look at my top 12 money saving tips and see how many you should start doing right now.
1. Create a master gift list
Start thinking about the many gifts you will buy this year. Make a gift list with the recipient’s name, sizes, likes and dislikes, and how much you’d like to spend. I also like to point out what I bought them last season, along with which gift was last year’s favorite. Take the list with you wherever you go so you’ll be prepared, since you never know where you’ll find a great gift item.
2. Schedule festive events
Now is the time to find out when all of your family’s holiday events will occur so you can schedule them. When is your child’s holiday ballet show? When is the company party? When does the school holiday break start and end? Gather as much information as you can and write it down in a vacation planner (or use a notebook), so you don’t have any unexpected surprises later. Along with the event information, make a note of any gifts or food dishes you may need and add them to your master gift list, so you can start looking for deals.
3. Pick a name from a hat
Many families don’t buy a gift for every member of the family, but instead choose the name of a family member and only buy for that person. This idea offers a great way to keep costs down, while having fun exchanging gifts. You can set a price range in advance and even list the items you’d like to receive as gifts. If you think this idea would work well for your family, start now by hosting a family gathering for everyone to participate.
4. Design your own vacation section
The layaway concept is great, it allows us to make large purchases paying small amounts each month. You can apply this same great idea and create your own custom vacation section. Start now by buying something every month until the holidays. This way you can spread out how much you spend and avoid having to buy everything at once.
5. Great homemade gift idea
Every year I create a coupon book for each of my children. It costs me nothing, and they love getting them. Inside each booklet are coupons valid for an item or activity that they can use, just like the coupons adults use at the grocery store. What makes this special is that I include coupons for the many items I normally say no to. Coupon books work well for adults, too, and can include coupons for free dining, special outings, and deals on running errands.
6. Plan a Christmas gathering of friends
Instead of exchanging gifts, why not host a house party for your friends? Have everyone bring a plate and enjoy each other’s company, no gifts required. Pick the dates now and write them on your calendar, so there are no scheduling conflicts.
7. Earn money on last year’s winter clothes
We all have them, clothes from last winter that we don’t like or don’t fit well. Wash them up and take them to your local consignment shop for some quick holiday cash.
8. Think of Christmas items in thrift stores
To find great gifts, kids’ party dresses and frugal gift ideas at great prices, visit your local thrift store. Whatever you find now, just hide it for later.
9. Schedule free entertainment ideas
Think about the events you attended last year that you would like to enjoy again this year. Was there a church play you loved or a great choir performance at the mall? Put them on your calendar. If you don’t know the exact dates yet, write the event down at the top of the calendar anyway until you do.
10. Choose your travel dates now
If you know your exact travel dates now, you can start looking for great airfares and book early to save the most money.
11. Visit paperbackswap.com
for free books to read on cold winter nights.
12. Keep the thermostat 1 degree lower than usual
Keeping the temperature just one degree lower can save money on utility bills by up to 5%.