The holiday season is a long-anticipated time of the year, especially for families with children (young and old alike). The warm glow of twinkling lights and glitzy decorations, the delightful smells of gingerbread and peppermint wafting through our homes, the festive tunes playing everywhere you go. It’s indeed the time for everything merry and bright—oh, and it's expensive!
The holidays have always been my favorite time of the year, especially while raising eight kids over the past 24 years. I begin listening to Christmas music long before Thanksgiving (feel free to roll your eyes!) and can’t wait to deck the halls as early as possible (just ask my kids, they say I become obsessed with the season). To me it is indeed “the most wonderful time of the year,” but it’s also the time of year where our finances can take a hit.
Here are 7 ways you can save some serious cash this holiday season.
- Tip #1: List It
- Tip #2: Buy Discounted Gift Cards
- Tip #3: Refrain From Extras
- Tip #4: Give Experiences Instead of Stuff
- Tip #5: Save On Free Holiday Shipping
- Tip #6: Purchase a Family Gift
- Tip #7: That’s a Wrap
Here is more information about each.
Tip #1: List It
I’ve long been a list person, even before I became the busy mother of eight kids. I never leave home without my master list notebook which I have sectioned into categories such as “Housekeeping Projects,” “Grocery Items Needed,” “Menu Recipes and Ideas,” “Appointments,” etc. One of my categories is also “Holiday Gifts.” I printed a template I found on Realsimple.com and use it all year long but especially when I start my Christmas shopping. Write down everyone you want to buy a gift for. It’s OK to put a dollar amount next to each of their names. I also list the people who I will tip for the holidays like our rubbish removal people, mail carrier, dog groomer, etc. because it’s important to have a complete handle on all the money you’ll be spending, particularly if you are committed to sticking to a budget.
Tip #2: Buy Discounted Gift Cards
There are always people on your gift list that might be a little more tricky to shop for than others. You may be itching to give your babysitter an adorable hooded vest adorned with sequined snowmen, but deep down you know it will never see the light of day in her cutting edge, trendy wardrobe. When you’re not sure what to buy, gift cards are always a safe bet. I purchase a handful every holiday season, but I never pay full price for them!
There are multiple places you can pick up discounted gift cards at a reduced price. In fact, you can decide between pre-owned and new gift cards.
Pre-owned discount gift cards exist because sometimes people receive gift cards they don't want. For example, they might not prefer the brand of that gift card or the store might be too far away. People can sell their unwanted gift cards for cash offers that are less than the face value of their cards. Gift card resellers then sell these cards for a little bit more but still less than face value.
New gift cards on sale are simply gift cards that are sold for less than face value. Additionally, sometimes merchants offer bonuses for buying a full-priced gift card rather than discounting the initial activation such as a second free gift card, or a great coupon for a future purchase. There are several reputable places you can purchase both pre-owned and new gift cards. Check out giftcardgranny.com, cardpool.com, and ebay.com.
Tip #3: Refrain From Extras
During the frantic season of the holidays, it’s so easy to splurge on little extras that can ultimately crash your budget. Treating yourself and “the girls” to an unexpected lunch with a bottle (or two) of wine, grabbing a new pair of “must have” boots for yourself, paying for those cute matching snowmen sweaters for you and your kids—you get the picture.
Cutting back on those extras can have a big impact on your bottom line, but this also takes some discipline. If you commit to sticking to a holiday list as mentioned in tip #1, you will be better able to stay on track and resist those tempting but unneccesary purchases. That money could have paid for a few stocking stuffers so before you splurge on those little extras, be sure it’s really worth the price.
Tip #4: Give Experiences Instead of Stuff
Shopping for eight kids each Christmas can be daunting. Though I love to shop, the older my kids got, the more tricky and expensive their wish lists became.
Several years ago we implemented giving them experiences rather than stuff, and it has been a huge success. Now we give experiences such as a weekend getaway to an indoor waterpark, tickets to events and concerts, passes to museums, day trips on the train to Boston, and gift cards to their favorite restaurants that they can choose to use with us or friends.
Tip #5: Save On Free Holiday Shipping
If you love the convenience of online shopping like I do, be sure to take advantage of “Free Shipping Day” which takes place on December 15. Free Shipping Day is a one-day event held annually in mid-December. On the promotional holiday, consumers can shop from both large and small online merchants that offer free shipping with guaranteed delivery by Christmas Eve. With over 400 businesses that participate, you are sure to save big bucks on gifts for the entire family, and you can enjoy being at home baking gingerbread men with your kids rather than hassling with long lines and traffic.
The days following Christmas are also ideal for getting a jump-start on purchasing decor and wrapping goods for next year.
Tip #6: Purchase a Family Gift
Once our kids started getting older (we’ve had five teens at a time!) we moved away from lots of individual toy purchases and instead invested in one large gift for the family. One year we upgraded our entertainment center (new flat screen HD TV along with a Bose music system), another our computers, and one year upgraded everyone’s cell phones. This eliminated a lot of frivolous purchases of items that ultimately no one really wanted anyway, and resulted in improving our family’s overall lifestyle with a major product that they could really enjoy all year long. I poll the family in early fall to see what everyone would like to see as an upgrade in our home and that gives me plenty of time to look for a great deal. This year our family room is getting a makeover with a brand new leather sectional and phone docking stations. (The gift that keeps on giving!)
Tip #7: That’s a Wrap
After this year’s holiday season settles down, take a few moments to review your spending and make plans for next year. Did you manage to stick to your gift list? Did you have too many impulse purchases? Were you constantly tempted to buy a little something for yourself each time you hit the mall? I take notes in my “master list notebook” to refer to the following holiday season. For instance, two years ago I found a trendy, affordable gift shop hidden away in town that I purchased most of my stocking stuffers at. Their gift assortment was eclectic, fun and very affordable. I made note of it so that the following year I could return and have a one-stop shopping place for stockings, teacher’s gifts, etc.
Also, if you’ve got the time, energy and storage, the days following Christmas are also ideal for getting a jump-start on purchasing decor and wrapping goods for next year. I also use this time to purchase one very inexpensive but unexpected New Year’s gift for each of my kids. It’s been a tradition of ours for years now, and my family looks forward to receiving that “one last gift” at the end of the holiday season.
How do you keep you save money during the holidays? Share your thoughts in the comments section at http://ift.tt/1zMEe2L, post your ideas on the Mighty Mommy Facebook page. or email me at mommy@quickanddirtytips.com. Visit my family-friendly boards at http://ift.tt/1wyJKr5
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