Enjoy the holidays without breaking the bank

Take stock.

To take full advantage of the Holiday Season reasonably, set a budget. A good way to take stock of your finances is to see them in the form of budget. If you’ve never made one before, the whole process might seem daunting. To simplify matters for yourself, don’t hesitate to use our free online budget-making tool. Also take this opportunity to talk money matters with your spouse and/or children. By communicating with everyone, you will be better able to manage expectations before gifts are opened and reduce your stress.

Preparation is key.

Once the budget out of the way, take time to plan your festivities. Careful planning will help you stick to your budget for gifts, decorations and food. Here are a few ideas for keeping holiday spending under control:

• List everyone you want to give a present to, and the items you want to buy.
• Check out the best online deals to get real bargains. Black Friday discounts can make a real difference, so watch for them!
• Look for promo codes and subscribe to store newsletters that often give discounts on your first order.
• Check those flyers and don’t be tempted to buy things you don’t need just because they are on sale.

If you stick to your original gift list, you will see the difference in your spending right away.

It’s the thought that counts.

The very best presents don’t have to be brand new or cost a fortune. The gift your loved ones will cherish most will be one that you put thought into, a gift that marks a special moment or occasion you shared or that has a personal touch.

A little creativity can go a long way in keeping costs down:

• If you are crafty, look on sites like Pinterest for handmade gift ideas.
• Shop in thrift stores rather than the big-box stores. You can also find great bargains on virtually everything on Facebook Marketplace and Kijiji! Make sure you are always dealing with honest sellers.
• You can also set up a gift exchange with your family to shorten everyone’s gift list, and even set a cap on how much everyone spends.
• For a greener option, why not suggest a swap: exchange items you already own to promote recycling and rein in overconsumption.

Remember what’s important.

Lastly, get back to basics. Strike a balance between your holiday spending and the true value of these family celebrations. Keep reminding yourself that the most important thing these days is not gifts. It is being able to see one another and celebrate—at a safe distance, of course—and to stay healthy!

We wish you a happy holiday season!