How to Save Money During the Holidays

When we think of the holidays, we think of Christmas or Hannukah, but when thinking of the holidays from a financial aspect, it encompass an entire season. From November including Thanksgiving, Black Friday, Christmas, Hannukah, Kwanzaa and New Year’s, it’s just celebration after celebration. From a financial perspective, the virtual bookkeepers know money is spent in many more ways than just gifts: dinners, office parties, new clothes for these celebrations as well as for attending various houses of worship, traveling, charitable opportunities and more. So how do you keep spending to a minimum during these couple of months of endless celebrations? Keep reading this blog to find out how to save money during the holidays while still taking part in all the festivities and traditions.

Virtual Bookkeepers Say Budget, Budget and Budget Some More

How can you save money during the holidays without setting up a budget? The trick is to not restrict yourself too much though. You want to be realistic and leave yourself a bit of wiggle room for last-minute purchases or perhaps unplanned events. Maybe your car breaks down in the middle of December, maybe you need to buy a fancy gown for attending a gala sponsored by your spouse’s company, or maybe your aging parents decide to have Christmas dinner at their house and you have to travel. When setting up your budget, remember the little things too. From donations and toy drives, to holiday decorations and last-minute gifts you weren’t expecting to give, these can all add up.

If you’re going to have a budget, the virtual bookkeepers strongly suggest you keep track of it. You can have a separate account for the holiday season, you can also have one dedicates credit card for those few months, design a spreadsheet for yourself, or even have a box full of the holiday receipts. However you decide to keep track of your holiday spending is up to you, but make sure you do it and check in with your budget.

Capitalize on Traditions

Host dinners at your place and let the kids join in the preparations. Tour your neighborhood and pick the holiday decorations inner. Go to your local Christmas tree lighting ceremonies. Visit Santa at the mall. Find out free events and performances happening in your area. Host a movie night, a pizza party night or go caroling as a family. There are many ways to enjoy the season, and embracing traditions is one way to save money during the holidays.

Embrace Coupons, Skip Extras

Black Friday can lead up to many savings, but it you don’t feel like camping outside to score a deal, start making small changes as you gear up for the holidays, leaving you with more money for the costly season. For example, you can do without the regular cappuccino habit you have, saving you around $5 daily, leading up to at least $100 in savings. If you have a manicure and pedicure on a weekly basis, try skipping it a few times in the prior months or even during the holiday season. The virtual bookkeepers suggest you also go out less, spending less money on restaurants, entertainment and the like.

Another way to save money during the holidays is to embrace coupon clipping, as well as purchasing gifts on sites such as Groupon. The season is synonymous with eating so a lot is spent on food, but cutting back the cost on groceries, you’ll be saving big. As far as gift giving, you can get pretty original by offering loves ones local experiences such as massages, kayaking, tours, spa treatments and more…all while still saving money during the holidays.

The virtual bookkeepers wish you a healthy and prosperous holiday season, filled with family, laughter and great food! We hope this blog helps you save money during the holidays, so you don’t have to be paying off debt for months to come afterwards.