7 Tips to Stretch Your Christmas Budget

No matter the size of your holiday budget, finding ways to stretch your hard earned money is a smart idea. There is no shame in looking for ways to get the most bang for your Christmas buck. Here are 7 simple ways to help stretch your holiday budget to the max.

  1. Sales

    Whether you are buying a turkey or a video game, stores are in the habit of offering big discounts during the holiday season in an effort to pull consumers into their stores. Without a doubt the most effective way to save money during the holidays is to shop smarter.

    Before you set out to buy anything take the time to do a quick internet search and see which stores are offering the best prices on the items you plan to purchase. Apps like ShopSavvy and Walmart Savings Catcher can make this process much easier as well. Don't forget that you can often save money shopping with reputable online retailers as well, especially when combining discounted online prices with free shipping offers.

  2. Coupons

    Another great way to save money during the holidays (or any time of the year for that matter) is to use coupons. Websites like RetailMeNot.com make it a breeze to check for available coupons for thousands of retail locations.

    Remember, many brick and mortar stores will honor the coupons of their competitors as well. It is often possible to double up the best sales prices available with a competitor's coupon for even bigger savings.

  3. Price Matching

    It is common for big box stores (e.g. Target, Walmart, Best Buy, etc.) to match the prices of sales from other stores. If you want to save a ton of money without driving all over town, just take current sales papers (in printed or digital format) from other stores along with you.

    Some stores will even price match with online retailers such as Amazon.com. Wal-mart, for example, will match the sales prices of other retailers on everything from holiday foods to toys and video games.

  4. DIY

    Perhaps my favorite money saving idea for the holidays comes in the form of do-it-yourself gifts. DIY gift ideas can range anywhere from homemade holiday goodies to scrapbooks to hand painted ornaments with your children.

    If you’re running short on crafty ideas, websites like Pinterest.com can be a huge help. Plus, as a bonus, handmade gifts are often the most treasured and most remembered gifts received, standing out in a sea of store bought products.

  5. Rewards

    Christmas is a great time to cash in the rewards and bonuses you have been banking on your favorite rewards credit card. Rewards can often be redeemed for a variety of products and/or gift cards - all of which can make great presents for the loved ones on your Christmas list.

  6. Give the Gift of Time

    The idea that only "stuff" makes good Christmas gifts is completely false. Another great gift idea can be to do something for your loved one instead of giving them an item.

    For example, you could make a coupon (or even just a thoughtful Christmas card) which your loved one can cash in for a free month of house cleaning, baby sitting, tax preparation, car washing, a home cooked meal, tutoring session, etc. The possibilities are virtually endless.

  7. Volunteer

    Let’s face it. It’s easy to get sucked into the social pressure to buy the biggest and best gifts for your family. As a mom, you may especially feel pressure not to let your children down during the holidays.

    Many consumers take out loans or rack up a small mountain of credit card debt in order to make these expensive purchases. Stop. There is a better way.

    You can reminder yourself and your family of the true meaning of Christmas through volunteering to help those less fortunate than yourselves.

    Whether you put together a gift for a child in a third world country (AmbassadorsToTheNations.com) or volunteer at your local soup kitchen, there is nothing like giving your valuable time to others to help put your priorities back in order. What better lesson, or gift for that matter, could you give your children than teaching them to care about the needs of others?

Set yourself up for a much more enjoyable holiday season this year by following some of the simple tips above.


michelle-l-black-credit-and-money-expert

Michelle Black, Founder of CreditWriter.com and HerCreditMatters.com, is a leading credit expert, author, writer, and speaker with over a decade and a half of experience in the credit industry. She is an expert on credit reporting, credit scoring, identity theft, budgeting, and debt eradication. She is featured monthly at credit seminars, podcasts, and in print. You can connect with Michelle on Twitter (@MichelleLBlack) and Instagram (@CreditWriter).