Christmas is the most wonderful time of the year – but not for your budget. The long list with presents and the crazy holiday shopping can burn a hole in your pocket.
As financial and money experts and huge fans of the winter holidays, we know a thing or two about saving money without killing the holiday spirit.
Check out our simple money-saving tips which will help you have amazing holidays without breaking the bank.
1. Make a list and check it twice
Making lists may sound boring but it’s necessary if you want to put your holiday spending under control and save money on gifts.
During the holidays we all have this inner urge to splurge which make us buy more gifts than the people on our list. That’s why you should make a list of all the people you plan to give Christmas gifts to. Write down their names and decide what presents you’ll buy in advance.
Also, it’s good to check the prices beforehand and set your Christmas budget accordingly.
2. There’s nothing like a handmade gift (and it’s good for your pocket!)
With the boom of DIY video channels and social media networks like Pinterest, it has become super-easy to make handmade crafts. The best thing about handmade gifts is that they’re unique and made specially for the receiver. Plus, they can help you save lots of money during the busy Christmas time.
Short on ideas for DIY Christmas gifts?
No worries, there are tons of great ideas curated in Pinterest collections (check Christmas Gift Crafts by Cyndie Duhanthis) or you can check the Nifty channel for some inspiration. Our advice is to start with something easy to make and avoid spending too much on expensive materials.
3. Learn from Scrooge
Scrooge is the main character in one of the most popular Christmas stories – “A Christmas Carol” by Charles Dickens. He’s known for his mean and cold character, but you can learn something from him – Scrooge cares about money, and so should you.
Splurging on expensive Christmas presents and unnecessary stuff may put you in trouble when the holiday cheer is over. You may end up with empty pockets for the New Year, so be a scrooge and stick to the initial budget you’ve set. Look for discount coupons and use price comparison websites to find the best deals.
4. Don’t let your spending out of sight
Keeping an eye on your spending is essential no matter if you shop online or in the mall. It’s easy to get caught up in the shopping mania, so be careful. Set spending limits on your debit card and enable in-app spending notifications for each purchase you make.
With the LeoPay app, you can do just that and lots more. You can set spending limits of your choice and adjust them as needed. Plus, you can keep track of all payments made with your LeoPay VISA card during your holiday shopping spree.
5. Organise Secret Santa
If you have a large family, avoid buying everyone a gift and organise a Secret Santa. And yes – there is an app for that!
You can use DrawNames to enter the names of all relatives and assign a Secret Santa to each family member. It’s fast, fun and easy, and the best part is that you’ll buy only one Christmas gift.
Follow these simple tips and you’ll avoid holiday debt. The LeoPay team wishes you happy holidays!