Saving for the Holidays

Christmas

With the holiday season fast approaching, it may be a good idea to assess your financial situation and plan a little bit ahead. By planning now and not waiting until the last minute, the holidays don’t have to be a time when your wallet is hurting.

Here are some tips to consider to help you save money this holiday season.

Make a budget

Creating a budget is one of the basic principles of being frugal, yet too often people overlook it. Taking time to sit down and map things out will allow you to see where and how you can cut costs. One way to make a holiday budget is to first make a list of each person for whom you will be buying. Once this is decided, you can determine how much you want to spend on each person. You can also make a list of items you know you will buy so you can start searching now for the best prices and future deals that retailers will have.

Plan holiday travel now

Travel during the holiday months can be expensive, but planning ahead can save you money. According to cheapair.com, the best time to purchase tickets for domestic flights is 49 days in advance. Websites such as google flights are good resources where you can compare ticket prices.

Do online research

If you’re unsure of which specific item to buy (for example, the brand and model for a phone), searching reputable online review services will help you make a decision. Some examples include amazon.com, cnet.org, and consumerreports.org. Doing your homework beforehand will save you the trouble of returning items later or having the recipient be dissatisfied with the product.

 

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