Josh Elledge - Chief Executive Angel
7 creative ways to have money for the holidays
The same problem plagues families year after year. Despite the fact that the holidays come the same time every year, we tend to let them sneak up on our budgets. Before we know it, Thanksgiving is only a few weeks away, kicking off the gift-giving season – not to mention the special foods season – and we're not financially ready.
Every year I advise starting your holiday shopping as early as possible. That alone spreads out the financial burden of special holiday purchases. On top of that, it gives you more time to watch for the perfect deals to get the gifts you want to buy for Christmas.
To help you over the next several weeks, I put together a list of 7 creative ways to have money for the holidays:
1. For the next several weeks, don't do anything, buy anything, or go out to dinner – without it being deeply-discounted.
By limiting your additional spending to only deeply discounted activities and purchases, you'll be shocked how much money you can free up. Sometimes all you need to buy one more gift is to skip the drive-thru line in favor of whatever's already paid for at home.
2. Buy in season and cook simple meals.
The holidays are already full of rich, heavy meals. So leave those for the special days, and go light. You can save a ton buying plenty of meat and produce in season at the lowest prices, and putting your oven and slow cooker to good use. This is where meal planning really pays. A good meal plan can make delicious, filling meals for a family of 4 for under $12, usually much lower. That beats dropping $30 out for a family – and that's at least 2 more Christmas gifts paid for.
3. Go back to that good, old-fashioned, do-it-yourself mentality.
Have a family project day instead of hiring someone to rake the yard or trim the trees, string popcorn and make paper snowflakes instead of buying new decorations. Think about what you have coming up for which you normally pay out of pocket – but that you really could do yourself or do without altogether – and make a new plan to handle it without spending a dime.
4. Skip the paid tickets – go to cheap or free local events only.
Throughout this time of year, there are plenty of free things to see and do with the family: festivals, craft fairs, nature walks, local school games, plays, and concerts. Compared to the price of taking the whole family to a paid event, like the movies, you can save over 75% , plus make memories, and support your local community to boot.
5. Don't get swept away by early (or otherwise) Black Friday and Cyber Monday sales.
Make certain that the things you do end up buying – if anything – are true deals. The hook to being certain is that you must know your prices. When you get swept away in the hype, you overspend – and the result is a strained December budget, putting a damper on the whole month and every celebration you have planned.
6. Cut the cable, or other subscriptions.
If you aren't in a contract that is costly to exit, consider alternatives to subscription services like cable. Many shows can be watched on the internet, including current shows. CBS network, for example, has a cheap subscription service where you can see the shows the day after they air for as low as $5.99 a month. All you need is a streaming device, like a laptop or phone. Want to still watch on the actual tv? If you have any internet-ready device, with an HDMI port, and an HDMI-enabled tv, you just need a standard, double-HDMI end cable. Plug one into your device (like a laptop), and one into the tv, and watch. Cutting cable alone, even if you decided it was just for a couple months to have Christmas money – could give you all the money you need for gifts, special food, party snacks, and more.
7. Use coupons for everything!
I've been an advocate of coupons and I'll continue to be for as long as they exist. When it comes to coupons, most people think of grocery savings – and it's true, by just using coupons, you can cut your grocery bill by hundreds a month. But there are so many more coupons out there – for nearly anything and everything you need to do or buy. You can save on fast food, car washes, haircuts, karate lessons… the list is nearly endless. To find the coupons you need for the things you must have this holiday season, check out Retailmenot.com, SavingsAngel.com/Groupon, and SavingsAngel.com/Livingsocial.
