They say Christmas is all about giving. While we want to look at the word, “giving” in a positive way, this word equates to “spending” as well. When you spend, this means you take a portion out of your salary or savings to give something to those who mean a lot to you.
What if we tell you that you can still save a few hundreds (or even thousands) despite the Season of Giving?
Here’s how to do it:
1. Sell some of the things you own.
Do you have purchased clothes you haven’t even worn? What about the duplicate pasalubongs you’re supposed to send to your family that are sitting in your cabinet? How about items that you were supposed to place inside the balikbayan box but you already forgot?
Save some space and get some cash by selling them. Offer them to your colleagues or sell them online for extra cash this Christmas.
Or another good idea would be to give those extra items as a gift instead. This way, you don’t have to worry about making that trip to the mall, especially on this busy month.
2. Set a budget.
It may sound like a broken record, but if you really want to save, then you need to make a budget for everything, especially during the Christmas season. Having a budget allows you to control your expenses and set limitations.
Start by listing all of the people you plan to give gifts to (if you can, with your ideal gift). If time permits, shop around to give you an idea how much your ideal gift costs. This allows you to set aside a specific budget for each person.
3. Share a gift with someone.
Do you have a friend you are closest with? Why not share gifts with them to cut your spending into half. This is a good way to save more since you have someone to share expenses with. Nonetheless, this will only be a good idea if you plan to give gifts to your boss or fellow workers.
4. Always pay in cash.
This is another must-do rule during Christmas. Using a credit card to pay for your purchases may be convenient, but there is a higher possibility that you won’t be able to pay on time; hence incur interest or penalty fee.
If you want to save more, then paying in cash is the best way to go. Plus, you are more conscious of your spending because you know how much is left in your wallet.
5. Consider getting a sideline.
Christmas is a busy season for everyone. Why not take advantage of it by offering your services for a fee?
Ask around and see if there are any temporary job openings, say in a mall or restaurant. You can also ask your employer for extra jobs for additional earnings.
If you prefer staying in your place, then you can try answering surveys or complete online reviews. There are tons of websites that offer this type of service where you can be paid. This is good enough to give you something extra for the holidays.
6. Try online shopping with cashback services.
This is popular these days. Cashback sites are websites that partner with online retailers where you get a “money back” for every purchase made on that particular retailer site. The higher the purchase, the higher the cash back will be, which you can use on your next purchase or even have it encashed by crediting it in your bank account.
Still, don’t use this as an excuse to shop and go beyond your budget. You’re after saving and not spending.
More importantly, practice self-control. Gift-giving is not measured by how expensive an item is. What matters most if that you remembered that person and you give something that s/he will appreciate. After all, that’s what Christmas is about, right?