Money Saving Tips This Christmas

Christmasis the season of caring, sharing and giving. However, shopping for gifts orhome decoration during this festive period can add up and be exhausting. Hereare some means to spend smartly this Christmas.

Find online deals

Manyhave the misconception that online deals are scarce during the festive period.The truth is that online deals are aplenty across various segments such asfashion, festive decoration, home appliances, food, and more. Scour the net forcoupon codes well in advance before Christmas to avoid last minute surprises. Byshopping in advance, not only do you avoid the inevitable price hike closer toChristmas, you also save on express shipping and avoid the awkward situation ofarriving with your gift still in transit.

Do it yourself (DIY)

DIYsnot only inject more sentiment and thought into a gift, it is also typicallyless costly that getting it straight from the store. Rediscover or start exploringyour crafting skills this Christmas. If you want to gift your best group offriends a common present, but is a tad low on budget, try printing out all theprevious group Christmas celebrations over the years. The effort of digging uppast Facebook photos not only fill you up with nostalgia, but the gift itself willbe a great talking point to kickstart the Christmas chatter. This willdefinitely get you on Santa’s ‘Nice’ list.

Do it with others

DIYsneed not be a lonely endeavor. Try doing up a simple gift such as apersonalized pop out Christmas card, or a photo album for your relatives,classmates, or colleagues together with a bunch of friends. Not only will thislighten the work load, it is also a great bonding activity and can be a fun andmemorable experience.

Everwanted to learn how to knit, or paint a simple portrait? This is a greatopportunity to throw your excuses out the window, and  exchange new skills with your circle offriends.

Cook up a storm

Ifyou are good at whipping up dishes, try baking Christmas tree or reindeershaped cookies for friends. Invite your loved ones over to your place for someroasted turkey and ham. Do not be afraid to add in some fusion dishes as well.After all, Singapore is a melting pot of cultures. Not only is this less costlythan going out for an expensive dinner, the private and casual setting is alsogreat for catching up.

Foran added ambience, drape fairy lights in the dining area. You need not buy thefairy lights at departmental stores. Sites such as Shopee, Taobao, and Qoo10are great alternatives that tend to be cheaper as well. Such fairy lights canbe borrowed, and even thrifted in a second hand shop.

List all needed items

Shopwith a list on hand, and check it twice before sticking to it to prevent goingon a spree for your personal items. It can be tough to stay focused with allthe fast-paced Christmas songs playing in the background, and people walkingaround with large bags of goodies for their loved ones. You may feel inclinedto join in the splurge, but remind yourself to stick to the necessary items onthe list.

Track how much you spend

Inan ideal world, your actual spending should be identical to your planned expenses.However, the truth is that these two numbers may not be the same. Tracking yourspending will be important to ensure that you are spending within your budget.In the event that you have exceeded the original limit set, knowing how muchyou have exceeded can help you to adjust other aspects of your spendingaccordingly. You can monitor it through a bunch of free apps available, or by jottingit down in your finance journal.

Impose a spending limit

Beforethe Christmas madness begins, ring up your credit card provider to enforce aspending limit on your credit card. While the limit can be lifted, this acts asa great psychological barrier and reminder to not overspend. You can evenimplement a cash withdrawal limit to your bank account by calling your bankservice provider.

Postpone your festive mood

Goingout on Christmas eve or Christmas day itself is going to cost you a bomb. Althoughthe ambience can be joyous, many things are overpriced. This Christmas, why notpostpone the festive mood to skip the crowd and get the most out of yourspending. Do without fancy dinners and postpone paid activities that can easilydouble in price during the period. This does not mean that you need to stayhome and watch TV during Christmas. There are a multitude of free activitiesand festivals available that allow you to soak in the glittering lights andspirits at no charge.

Spice up your gift wraps

Non-thematicwrapping papers can be recycled. Many wrapping papers, especially plastic wrapsor wrapping papers with a later of wax, are very long lasting. Remember to keeptrack of who gave you what wrapping paper by taping the sender’s name and datereceived on the wrapping paper during storage. You can even save littlefigurines from cakes and tie them to the present for a great overall polishedlook. It will make the gift look more customised too. By reusing wrappingpapers, you are doing your part to better the environment as well.

Reuse decorations

Manyhome decorations can be reused for Christmas. By sticking washi tape, addingsparkly sprinkles, or using paint markers on your Christmas tree ornaments, youcan give them a totally different look. You can even give pre-loved homedecorations a second life by thrifting them from the Salvation Army.

Conclusion

Budgeting wisely is often easier said than done. However, planning ahead is a sure step forward to spending within limits. Whenever tempted to splurge, remind yourself that this Christmas smartly the new year countdown will happen within a week from Christmas and you need to portion your money wisely.

(By Vanessa Ng)

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