The holiday season is a time for gift-giving, but for some buying gifts has to be done under a tight budget.
While Thanksgiving weekend may have provided exciting deals for shoppers, there are chances to save money all season long.
Here are five things you need to know to survive Christmas on a budget:
- Prepare ahead of time: Shoppers should make a list of the people they plan on buying gifts for before heading out to the store, said Scott Alan Turner, the host of a financial management podcast. When looking at the list, consider some names that can be taken off or can be given smaller gifts.
- Look for extra savings: During the holiday season, there are coupons and sales galore so before heading out to the store, make sure to check them out, according to Money Under 30, a financial savings blog. With a prepared list of locations and items to buy, shoppers can better navigate when and where to pick up their gifts.
- Avoid impulse purchases: When going on a shopping outing, carefully plan the exact items you want to buy, according to International Business Times. This way when a desirable, but unplanned, item appears in front of you, you’re prepared to walk away.
- Make your own gifts: If there is a particular hobby or craft that you’re good at, surprised loved-ones with a thoughtful, handmade gift, according to Refinery29. This can be something that will both excited the receiver and save money for the giver.
- Start preparing for next year: While this year December might have surprised you, it doesn’t have to next year. Refinery29 suggests creating a separate savings account for the holidays so throughout the year, you can set aside money to be ready for the next season.