Christmas is the same time every year but do you (I have been guilty of this in the past) always wait until the last minute to began shopping and since you don't have a Christmas budget, you we end up overspending. In an effort to avoid the same routine this year, here are a few tips that will allow you to be in a better financial position after the holidays are over.
Here are some questions to ask yourself when preparing for the holidays.
What is my budget?
The first thing you must do is set a budget and stick to it. The last thing you want to do is go broke for one day. If you have saved up the funds great, but if haven't keep reading I have some ideas of how to come up with the cash.
Who is on your Christmas list?
Write a list of all the people you normally buy a Christmas gift. Are there any people you can remove from the list? Last year, I decided that I was not going to buy gifts for any adults (except grandma) and I let them know ahead of time so they would not stress out buying me a gift. One of my friend's family decided that they were only buying gifts for the one granddaughter, her mother was so relieved that she didn't have to buy gifts for everyone, she brought a couple outfits for herself. So try to pare your list down.
How much per person?
Once you have your budget and list set. Decide how much you will spend prt person and stick to that amount. The earlier you start the easier it will be. Once the holiday season is in full swing, it's harder to get the deals, not because they are not out there, everyone is looking for deals so you have to be quick.
Can you DIY any gifts?
Some of you have some talent that you should put on display. Since you have 60 days, you have time to DIY some gifts. Do you make butters, balms, soaps, etc.? You can make a small basket or give a jars a body butter. You can even bake your gifts like cookies or small pound cakes and put a bow top. I'll take it!
For all of my people who are not sure how you're going to pay for Christmas, here are a few ways to make and save some cash before Christmas.
1. Retail Seasonal Help - All of the retailers are looking for part-time seasonal help during the holiday rush. There maybe a few retailers who are still hiring now. Ratracerebellion.com and pennyhoarder.com are good sites to check out for work from home positions.
2. Uber/Lyft - Do you have some free time on the weekends, drive for one of these companies? During the peak times you have the ability to make some serious Christmas money without touching your budget. According to Lyft, some drivers make $800 driving Friday nights and weekends. If you don't have a car, Uber even offers rentals in some markets (deposit required - I am not fond of the leasing part, but I wanted you to know).
3. Garage sell or offerup.com/thredup.com/letgo.com - Do you have some items or clothes you are not currently using or wearing. Sell your unused items for cash. Have a designer handbag you don't use anymore? Sell it on rebagg.com. If you are not comfortable with the online sites and apps, check out the consignment shops in your area. When I was moving and did not have time to list my items, I went to the consignment shops in my area sold some of my stuff. You don't get as much as selling it yourself but it was more than nothing.
4. Are you known for a your pies? Red velvet cake? Your macaroni & cheese? Can you fry a turkey? Create some flyers to give out at church, work, or post on social media advertising your baking/cooking skills for the holidays. With all the events that occur during the holidays, people don't have a lot time, and your famous sweet potato pie maybe the perfect addition to the office pot luck. Tip: Require a deposit (set up a paypal.me) and for Thanksgiving and Christmas set a cutoff date for orders and create a pick up/drop off schedule.
5. Are you good at writing, painting building websites, etc? Try a task site like Fiverr or Taskrabbit. On Fiverr you can help people with their Graphic design needs, marketing, writing, video, music, programming, etc. Each task is $5 but you can charge for upgrades in $5 increments On Taskrabbit, you can help people with chores they need to complete, such as, running errands, building furniture, packing, etc. You get to set your price and work on your own schedule.
6. Evaluate your expenses. What can you eliminate for the next 60 days? How much money would you save if you eliminate that expense temporarily? Can you save $25 to $50 a week? If you find some good deals on gifts you maybe able to put what's left in your savings.
As you can see I did not mention using credit. If you do not have the money, do not buy the gifts. Take it from someone who has charged Christmas gifts before, it's not worth it and you maybe happy temporarily because you were able to purchase gifts but when that credit card bill comes the next month your feelings might be hurt. My senior year of high school one of my teachers told me and my friends about all the toys she and her husband brought their kids for Christmas, a few weeks later she was telling us how broke they are because the American Express bill was $1,000 and they had the card that had to be paid in full every month. She was screaming broke for the next 2 months. You don't want that life.
I wish you peace, blessings, good sales and fat pockets for the holidays.
In the comments below, let me know how you save money on gifts during the holiday season.
