Category : Budget | Sub Category : Holidays Posted on 2021-03-29 13:47:38
Save Better, Enjoy Better
HO HO HO, its the best time of the year, during the holiday, you gather with friends, relatives, and spend time with the ones you love. Many are still shopping for Christmas gifts on Christmas Eve, when you should be sitting at home drinking hot cocoa and watching a Lifetime movie. Do not wait until the last minute and spend more money and stress out more for Christmas shopping get out there and start now. First, you must figure out a budget. According to Financial Planners, a household must not spend more than 1% of their monthly income on the festivities during Christmas. For example, if the monthly income is $1200, spend no more than $120. This can also mean 1% of annual income if your expenses are more. For a combined income of $150,000, spend no more than $1500. Wouldnt it be better if you can save that money or make some extra cash?
Having a good balance is important for making a good Christmas dinner, inviting friends, and enjoying the holidays. Without money, nothing is possible. Yes, people can collect and together contribute towards a wholesome affair, like in a community, which is a great way of saving money. In other words, you can start collecting money and saving it towards the Christmas Fund starting a few months before the day.
Reduce the household expenditure on food, power and utility bills, heating and cooling to save cash for Christmas. You can bring in some cash from small investments that you have made in the past, whether on goods or services. You can make use of additional funds from an extra hour or two of overtime before the festivities.
If you have enough stuff at home that you do not need anymore, start by prioritizing them, making a list, and selling them online at the best prices possible. Platforms like eBay, Craigslist, Facebook Marketplace are good examples to start with. If there is enough audience, and popularity, someone will buy them. This will help in two ways. First, because of this, your home will free up, become clean, neat and tidy for the festival. Second, you will earn cash from them.
Reuse, repurpose, and resell items to save money. If you follow these rules, then you can celebrate Christmas with almost no money at all. Start with catching last-minute deals, from offline shops and stores. Skip the traditional tree and save money. For example, start with trimming the budget on food, expenses, and pick up extra work. We have mentioned all these above for ease.
So, to figure out the best deals and save for Christmas, you can do several things. We have mentioned the best and basic ways everyone can save some money. Depending on your family situation, scenario, and some methods may suit you better than others. To give an overall opinion, savings cannot happen in just a day. You have to start working towards it at least 3 months prior to the holidays.