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Christmas is Just Around the Corner, So Here’s How to Cut Your Expenses During This Season

The Christmas season is here, which means your wallet is likely prepared to do some much-awaited spending. No, the magical holidays won’t turn all the money you shelled out for gifts back, nor will it reward you for the stacking costs. But, it serves as a blessing and a curse for most of us – while, it is the time to give and therefore, show appreciation to those around us, it is also the moment when we justify our unhealthy spending habits.

The shops that are filled to the brim with Christmas trees, decors, and gifts suggestions don’t help in trying to cut our shopping costs. From the twinkly lights to the ribbon for the presents, these may seem small expenses in hindsight but, if you’re not careful, these can pile up to something you don’t imagine.

This could have serious implications in your savings account and it could leave you grappling to compensate for that loss in the year to come. So here’s how to save yourself from this issue:

Recycling

Recycle past gifts that you haven’t used yet

Not to be confused with a cheapskate, being practical by recycling unused gifts is only logical. It’s the thought that counts, after all, so why not give what you have, right? As long as it is still fresh from the box, you can still re-gift it to someone.

It makes sense because you haven’t used it, so you can definitely give it to others. However, if you plan to do this for all your friends, keep track of whom you are giving a present to because you may unconsciously give it to the one who originally gave it to you, which is a major yikes moment.

Secret Santa

Secret Santa is a great way to save money

Instead of forking out tons of money for all your family and friends, why not suggest the Secret Santa scheme and set a ceiling amount for the presents? This way, you’ll save more and it won’t stress you out since you will only concentrate on the hobbies and passion of the person you chose.

Budget and Plan

Before the season arrives, it pays to plan and list down the things you might need, including the decorations and gifts.  Doing a rough estimation is the key because you need to understand the amount you’re limiting yourself to for the different purchases come Christmas time. It can be easy to get impulsive once you’re at the mall to buy presents, so having a list in hand will save you cash.

It also pays to have a small journal of all your expenses. That said, it is wiser to pay cash than to use your credit card. This way you will feel that you have been spending tons when you hand over cold cash to the cashier.

Compare and Find Discounts

Look out for sales and discounts

If you are doing advance shopping, compare prices first so that you can snatch the best deal out there. During the season, there would be lots of discounts and coupons, so you should take advantage of those even though you’ll just save a small amount. Remember, these tiny savings could still balloon.

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