The holidays come with numerous expenses, including food, entertaining, decorations, holiday travel etc. All of it together, and you could easily spend thousands on your holiday prep and start the new year penniless or in debt.
Sticking to a realistic budget is the key to enjoying an affordable holiday. It will allow you to make the most of the available money and prevent you from overspending.
List your Expenses: Once you have decided how you want your holiday to look like where it would be, a rough estimate of what the expense would seem like, then make a list! A list must be completed and reviewed severally to ensure you remove/ take out what you wouldn’t be needing. The list would also give a clearer view of exactly how much you’ll need and how much it would take to bring your dream holiday to life. Here are a few things that must be on your list;
- Gifts
- Food
- Christmas Decoration
- Clothing
- Travel Cost/Expenses
Make a Budget: A budget might seem scary to someone here because you already have a mental picture of your holiday experience, and that’s okay, but as financially responsible adults, it is safe to say there is a need to clearly state how much would be spent in total on this holiday. This would prevent you from going broke in the new year.
Choose Inexpensive Holiday Activities: To spend minimally, you must ensure your holiday plans are affordable and within your budget. Everyone enjoys spending extravagantly, but if you cannot afford that luxury choose places that cost way less but offer amazing fun things you can do with the family. Visit a beautiful, aesthetically pleasing environment that entry cost little to nothing. Plan a picnic with your friends or partners in an open space. A picnic would allow you to bring your food and drink and it is a chance to take lots of pictures while creating great memories.
Shop Smart: Take advantage of the numerous year-end sales and buy most things from yard sales or second hand if you wouldn’t be bothered. This would ensure that you get everything you need but at an affordable rate. It’s a win-win for you. Also, buy products on clearance. If they aren’t perishable, and you can keep them for later.
Choose to make gifts by hand or rather pack meals if you are an excellent chef: While everyone is obsessed with buying expensive gifts during the holiday, you can give out handmade gifts that can last over time. Family and friends would highly appreciate self-made gifts, and you get to keep way more money to be spent on other things. For example, if you knit beautiful clothes, make a couple and wrap them beautifully as gifts, this would do as well, or if you are an excellent chef, create new recipes and serve during this holiday season. You’ll be doing more with less.
