Holidays are exhausting. Both emotionally and financially. Advertising and social media tell us that we should definitely participate in entertainment, go to visit our parents and try to find the perfect gifts for everyone. But with a limited budget, doing all this is not easy, especially if your relatives and friends do not count the money and quietly spend it at will. If you want to make the most of the holiday season and still not go broke, try to draw clear financial boundaries.
Agreeing on the total marginal cost of gifts for family and friends is a good way to get the budget under control. If you have relatives who always give you something incredibly expensive, warn them in advance that you appreciate such generosity, but this year we would like to set a limit on gifts to each other, for example, no more than five thousand. This will save you from worrying that your gift will turn out to be much more modest again. Besides, you'll all save some money.
In addition to talking to your loved ones, take the time to analyze your financial capabilities and plan your holiday shopping in accordance with them. Make a list of everyone you want to buy gifts for, and determine for each the amount that you will be comfortable spending. This will keep you within reason and keep you from unpleasant surprises when you decide to check your account balance in January.
It can be difficult, especially if you are a sociable person and adore all these New Year's Eve parties. But no matter how fun they are, parties can punch a huge hole in your personal budget. Especially if you buy a new outfit for each of them, or even just a bottle of champagne.
Instead, determine the number of events you will attend during the holidays, and fill the rest of the days with free or inexpensive entertainment. For example, arrange a cocktail party at home, rather than in a trendy (and obviously expensive) club, or spend a cozy weekend with friends watching New Year's movies or decorating a gingerbread house.
One of the fastest ways to empty your bank account before the New Year is to buy gifts for everyone you know and love. This may seem right, after all, holidays are made to give gifts, but if you want to save money, it's important to stick to a budget.
If you have a lot of friends and colleagues and usually you try to please everyone, this time invite them to play "Secret Santa" or any other game where each participant needs to buy only one gift. This way you can even approach the choice more thoughtfully and creatively, because you don't have to come up with a lot of ideas and spend money on a large number of people at once.
Of course, a new smartphone is a win-win option, but sometimes the best gifts are things made with your own hands. Or not things at all.
The creativity and manual labor that we put into creating gifts shows our loved ones how dear they are to us. In addition, alternative gifts open up a huge scope for improvisation. For a friend, you can make a photo album dedicated to your relationship from the day you met to the present, and cook her favorite dessert for your sister. Even your time can be a great gift if you spend it with your loved ones, drinking cocoa and playing board games.
Gifts and parties are not the only thing that threatens our wallet during the winter holidays. Many people go on long trips during this period to celebrate the New Year with family and friends, which also entails expenses.
If this year travel does not fit into your budget, invite everyone to your place. Of course, this will also require money, but most likely much less than a trip to the other side of the country and even more so abroad. In addition, you can arrange a celebration according to your own rules or show your loved ones interesting places in the city where you live.
If you still can't avoid a trip, try to choose dates with cheaper tickets. Perhaps it will be before or after the holidays. But when it comes to communicating with your family, the opportunity to spend time with the people you love is much more important than the numbers on the calendar. And it's still a great way to save some money.
