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5 Tips to Help You Afford Christmas This Year

5 Tips to Help You Afford Christmas This YearNow that fall has arrived, Christmas season is much closer. While this festive time of year can bring many new family memories and jolly seasonal fun, it can also be stressful due to the cost of buying gifts for your family. It’s important to pace yourself when buying gifts and to also look for ways to cut back on your other expenses. Here are several ways you can afford the magic of Christmas this year.

Adjust Your Withholding Allowances

One easy way to bring home more money in your paycheck each month is to take a closer look at your withholding allowances. Many employees declare their exemptions only when they are first hired. As your life changes, like getting married and having children, you may not have realized that you could have adjusted your withholding. Making this simple change could potentially help you get more money in your wallet this month.

Stay at Home More Often

Next, you need to look to reduce the cost on some items. As Christmas gets closer, you may want to elect to stay home more often. Instead of going out to the movies with your family every Friday night, stay in and rent a movie. That way, you can save hundreds of dollars over the course of a few weeks. Choose to stay in and play a round of board games with your family over other costly entertainment options as well.

Walk, Bike, or Carpool to Work

The next thing to cut back on is gas. Although the end of summer season means gas prices may go down slightly, you can still make better choices when it comes to your commute to save more money this time of year. If your workplace is close, try walking to work a few days a week. If you want some exercise, it may be a great idea to bike there. For workplaces that are located far away, team up with other coworkers and set up a carpool club to save on transportation costs.

Get Help With Monthly Expenses

When you’re trying to reduce monthly costs, take a look at a variety of places where you can get some discounts or make some cuts. One option to try is to reduce your monthly insurance expenses. Most insurance companies allow their customers to bundle their products together to qualify for a discount, making car insurance in San Diego much easier to pay for.

Reduce Your Energy Usage

The last tip this time of year is to look for ways to reduce the increasing cost of energy. As it gets closer to Christmas, you may be getting worried about the higher costs of heating your home. Make some small adjustments to the way you use your thermostat, like turning it down at night, and you may be able to see a slight decrease on your monthly utility bill.

Getting ready for Christmas may take a little more out of your wallet than you feel comfortable with. If you have a large Christmas gift recipient list this year, you can handle the pressure if you take some smart steps this fall to save more money.

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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

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One comment

  1. “Stay at home more” is a great tip. So many people don’t realize how much they spend going out. I’d say it is the top surprise category when people first start to budget. Restricting spending in that area can make a huge difference on cashflow.
    Brad, Financial Coaching recently posted…The main reason you won’t get out of debtMy Profile

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