The holidays are coming in hot and we’re already thinking on how we can save money to buy all those gifts for our friends and family.
Trust us, we know the drill, and that’s why we’re going to go over the best four strategies to save money for the holidays.
Keep expenses to a minimum:
Let’s keep it simple to start, this is where the bulk of your savings will come from, after all they’re called savings just because you save and don’t spend. You need to keep expenses to a minimum in order to finish the month with some money left, money you can set aside for those costly holidays.
Start thinking about what you need and what you don’t need when you hit the super-market or the grocery store, as this is where most of people’s money is spent on average.
Put every coin of one type away:
Another cool method to save money is to decide on one type of coin, and from that point onward never spend that coin type ever. This is a fun game that will have you saving a lot of money in a way you don’t really notice you’re saving.
Each time you get change and that type of coin appears, put it away. Every day before bed, check your wallet for that coin type and if you have any of that type take it out and put it in a jar.
Save along with your better half:
There are a lot of reasons on why saving with your better half is a solid choice:
- You’ll compete to see who saves more;
- You have someone to prevent you from giving up;
- You will keep each other motivated and disciplined;
…and finally, at the end of the day, you’re both saving!
This will increase the amount of money your household can spare on gifts and holiday spending.
Make lifestyle changes:
Another thing you should have in mind is that saving will make you take some actions to change your lifestyle. For example, if you hang out in bars too much, you’ll have to cut that off in order to meaningfully save.
On the other hand, if you play pokies, then leave the bets on the site and play free pokies instead. It is all a matter of how much you want to save.
Cut on restaurants and desserts:
Finally, another place where we spend a lot of money without our knowledge is on restaurants and desserts. For starters, you spend a whole lot more if you eat out than you would spend if you were making your own food and taking it to work. On the other hand, even if you make your own desserts, desserts are one of the most expensive dishes to make, so you may want to cut back on them.
At the end of the day, it is up to you to prove how much you want to improve your holidays by saving, but we hope our suggestions and ideas helped you take a step in the right direction.
