The Christmas holidays are upon us, which means it’s the season for spending, spending, spending! Most people love Christmas, and if you’re lucky enough to have people to celebrate it with, you’ll want to spoil them. It can be an expensive time, which is why online loans can come in handy when you need them most. Use these tips to save money.
It’s understandable to get excited about spending money on the people you love, but you have to be careful. Your income should first be used to pay all bills and expenses listed on your budget, with spending money allocated for Christmas gifts. If you overspend, you’ll run out of money that you needed for the utility bill, for debt or even for groceries.
In this situation, you have a lifeline. You can apply for online loans wherever you are. Online loans provide funding when you need it, to help you get through to your next paycheck. There are many private lenders available, but being able to apply online is a bonus. The online loan application process is usually effortless and user-friendly, with leniency towards people with bad credit – which is another bonus. The requirements are generally minimal, which makes the application easier. And you usually get same-day approval, which means you don’t have to wait long for the money to clear.
Use “Secret Santa” As A Gift Giving Method
If you’re fortunate enough to have a big family and a large friend group, you’ll want to buy everyone a personalised gift. Unfortunately, this can get expensive. And when you’re purchasing many gifts, you compromise on quality.
Why not try the Secret Santa game? If you’re buying gifts for your friends, you can make it affordable for everyone by each pulling one name out of a hat. The person you draw from the hat is who you get to spoil, and you can settle on a budget that everyone keeps to. That way, everyone gets a decent gift that is personalised, and it won’t break the bank.
Another gift game you can look into is similar, but more fun, and works well for a bigger group. If you’re buying gifts for your team at work; this game makes it enjoyable and affordable for everyone. Each person buys two gifts under a set and agreed upon budget.
When the day comes to exchange gifts, number them. Each person draws two numbers out of a hat and receives two presents according to the figures they drew. Giving and receiving gifts is fun for everyone, and the element of surprise is an added benefit. Just make sure that each gift is neutral enough for anyone to enjoy. Some ideas include edible gifts, experiences, gift vouchers, or books.
Avoid Costly Traditions
Christmas time is full of traditions! Tree decorating parties, cross-country gift-giving, and more. But it can bring out the competitive side in some people. If you decorate your home or host a party with friends, be careful not to one-up your peers. Your ego can cause you to spend too much money competing with another person, where you could spend your finances better elsewhere.
If you’re looking forward to a few Christmas traditions of your own, try to keep the expenses realistic according to what you can comfortably afford. If you and your friends go to the spa for facials on your first official day off work, it can be expensive. Why not gather at a friend’s home, apply face masks and pamper each other while you enjoy their company with good food and wine. It’s more cost-effective but still allows you to follow your year-end tradition.
Everyone Contributes At Parties
How many Christmas parties do you attend every year – three or more, excluding Christmas Day itself? These parties can be expensive – especially for those hosting them. But getting everyone to bring something to share or contribute at the party makes it much more manageable for the host. It’s a win-win situation. You save on money, everyone is guaranteed food or drink that they like and nobody is restricted from eating, and people can share their favourite party foods together.
The Christmas period is a costly time of year for most. Whether you’re buying gifts, hosting parties, or travelling to visit loved ones and attend functions, you’ll need to be careful with your spending. Along with these tips to save money, make sure to have the option of online loans available in case you need a financial safety net.