It’s the time of year for holiday parties, delectable meals, frosty temperatures and good cheer with family and friends. These traditions, however, often have expenses attached. Many people factor in gift shopping as a major cos t this time of year, but often overlook other holiday-related financial commitments.
So, why not set a goal to try and spend less than $100 on the holiday season? Here are seven hacks on December’s finances to help you get there!
Try a potluck. Dining out with friends and family is a great way to celebrate the holidays, but fancy desserts and festive cocktails can be expensive. Take the celebration to your home! Potluck meals are a fun and affordable alternative. Consider providing the main dish and ask guests to bring their favorite side dishes or desserts. Potluck meals can reduce your grocery bill and the time spent on preparing an entire meal. Estimated cost: $35
Give from the heart. Instead of store-bought presents, create your own gifts this year. Baked goods and crafted items make unique and often inexpensive treats. If you’re not much of a baker, think about offering your time and talent as gifts. For example, offer to wash someone’s car, baby-sit or cook dinner for a family member in the new year. Sometimes the gift of time is the more valuable than a wrapped item.
Estimated cost: $0-$25
Trim the tree and your wallet. Adding to your holiday decorations every year can be expensive, but there are ways to do it on a budget. Instead of heading to a big-box store for new ornaments, consider shopping at consignment stores. They often have unique holiday treasures this time of year that will be considerably discounted compared to department stores. There are also fun and inexpensive decorations like DIY paper chains, ornaments and home-strung popcorn and cranberry garlands. And some of the best, free decorations could be right in your own backyard! Pine cones and tree branches are great for decorating and bring a little of the outdoors inside.
Estimated cost: $15
DIY greetings. Instead of searching for the perfect greeting card, consider sending out an e-card. Most e-card websites will allow you to insert pictures and send personalized greetings at no cost. Plus, you’ll save on printing and postage. If you feel particularly sentimental about sending a note in the mail, try creating a card on your home computer and printing it at your local print shop. Don’t forget to budget in for envelopes and stamps.
Estimated cost: $0-$15
Wrap it up. Beautifully packaged parcels are a marker of the holiday season, but the cost of supplies can add up surprisingly fast. If you’re shopping in department stores, check to see if they offer free gift-wrapping services — many do this time of year, so take advantage! Also keep an eye out for pop-up locations that will wrap your gifts for a small, charitable donation in return. And look for ways to wrap creatively at home with newspaper comics for the kids or simple ribbon.
Estimated cost: $0-$5
Frugal fashion. Heading to a holiday party with nothing new to wear? Save the expense on this one-time event, and instead, gather up your closest friends for a clothing swap. Ask guests to bring their favorite outfits, shoes and accessories to exchange. Mix and match items with friends, and you’ll all walk away with a brand new outfit for the next holiday gathering — for free!
Estimated cost: $0
Postpone the trip to grandma’s house. If the thought of busy airports and expensive flights gives you the holiday blues, then consider delaying your holiday travel. Consider video chatting with family members far away on Christmas morning and opt to book a trip to visit later in the winter when flights are less expensive.
Estimated cost: $0
Limiting what you spend in December can be a fun way to start new holiday traditions with loved ones and will allow you to begin the new year feeling good about your finances.
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How to Spend Less Than $100 During the Holidays originally appeared on usnews.com
