From learning how to stretch a dollar relative to holiday gifting and entertaining to finding easy ways to cut back on expenses, here are 5 money saving tips to help you stay on budget this season. While we all want to give gifts that the people in our lives will enjoy, there are easy ways to spend wisely, save more, and even earn additional money during the holidays.
Top 5 Money Saving Tips
1. When shopping for holiday gifts, head to big box retail stores (like Target) and major online retailers (such as Amazon). Frequently they offer doorbuster deals (which often are less than $10 per item) and deep-discounts that help you save money while scoring great gifts for friends, family, and acquaintances.
2. If you have several people (like co-workers) to buy gifts for, opt for value sets. During the holidays, major retailers (such as Sephora and ULTA Beauty) carry Gift Sets that contain multiple products. As an example, for only $32, the Buxom Winner Takes All Lip Set includes 6 deluxe lip polishes and creams. Each lipstick could be given to your colleagues as little gifts, which ends up costing you $5.33 per person.
3. When possible, do the bulk of your holiday gift shopping during Black Friday & Cyber Monday Week. For the best online deals, check out this huge list of money-saving coupons and sales. During this time period, top retailers (such as Nordstrom, ASOS, Forever 21, etc.) cut prices on products by up to 50%, which means you’ll score big, while spending less.
4. When it comes to holiday entertaining, host a Potluck Dinner. This dramatically cuts your food costs, as it requires your guests to each bring a dish to share. In addition, it makes your guests feel more involved in the party, as they have something of value to contribute and often enjoy the process of preparing their favorite recipe to share.
5. To earn extra cash during the holidays, look through your closet to find items that are in good condition but that you no longer wear or use. These items can be sold on Amazon, or via fashion-centric sites like Tradesy.
Recently a wealthy friend of mine (who owns several successful companies, two luxury homes, and multiple cars, including a Maserati) encouraged me to buy the best-selling personal finance book – MONEY Master the Game: 7 Simple Steps to Financial Freedom by the renowned inspirational leader and motivational coach, Tony Robbins. During our conversation about personal wealth, my friend shared his money saving tips. He told me that no matter what you want to do, you need to start right now (apparently Tony Robbins made that point during a seminar). That simple but poignant message resonated with me.
So often in life, we think about the future and envision the life we want. But, we frequently come up with seemingly-valid excuses (like current tasks, projects, and chores) to procrastinate. When it comes to wealth creation and saving money, there’s no better time than the present to get started on your personal financial goals.
By following the above 5 money saving tips, you can easily save more and spend less this holiday season. So, get started on your path toward wealth creation today!
[Disclaimer: This post is for informational purposes only. Image Credits: Shutterstock]