Wealth Connexion shares some tips on how you can save money this Christmas
The holiday season is upon us, and you might be feeling the financial stress of it all. It’s easy to underestimate and overspend during Christmas, so here are 10 handy tips to save money this Christmas.
1. Stick to a budget and track your spending
Making a budget and sticking to it is the best way to save money during Christmas. Keeping track of your spending can show if you’re close to reaching your budget, or if you have some more money to spare.
2. Create a list
Planning out your Christmas shopping beforehand will save you the time and stress of shopping around. This applies to gifts and to your grocery shopping. Plan your menu beforehand and purchase the non-perishables earlier, that way you won’t have a lot of food waste.
Making a list of what you’re going to spend can also help you keep track of your spending during Christmas.
3. Make the most of sales
Take advantage of half-yearly sales to get your Christmas shopping done. If you missed out on these, there are sales throughout November and December closer to the holiday period. These sales are also a great time to stock up on Christmas items, whether they be cards, wrapping paper, or even gifts for next year.
4. Try Secret Santa
Gift-giving can be the most costly part of Christmas. Instead of buying a gift for each individual in your extended family, suggest Secret Santa instead. You only need to gift one person and it’s fun to find out who your Secret Santa is. You can also suggest this to your friends.
5. Stick to cash
Sometimes the best way to keep track of your spending is to pay by cash. This can be for smaller things like decorations, cards, food, or wrapping paper.
6. Regift
If you have unopened and unused gifts sitting in a cupboard, it’s time to find them a new home and regift them. There’s nothing wrong with giving away a gift you once received, and it can be better for your wallet.
7. Get crafty
Homemade gifts are always meaningful and are often more cherished than bought gifts. Challenge yourself with a new hobby, whether it be crafts, sewing, kitting, painting, etc.
Add a personalised touch to your Christmas decorations or cards by making them yourself with materials that you have on hand.
8. Buy second hand
Pop over to the op shop and browse through the Christmas decorations that they have. You can find some unique, pre-loved pieces here, and you may also be able to find the perfect gift.
9. Keep the receipts
Sometimes gifts can come faulty or damaged, so it’s best to keep your receipts on hand so you can return or exchange these gifts. Keep note of the warranty too so that you can get items repaired when the warranty is still valid.
Merry Christmas from Wealth Connexion
Here at Wealth Connexion, we understand the importance of creating wealth to prepare for retirement. We offer a range of services such as aged care financial advice, Wealth creation strategies and management for retirement, and personal risk protection. If you’re interested in our services, please get in touch with our friendly team, and we wish you a Merry Christmas and a safe holiday!
