Save Money This Holiday Season

In a recent online poll, divine.ca found out that 63% of our readers will try to spend less this holiday season due to the current economic crisis. Since many of you plan to tighten your purse strings, here are 10 great tips on how to save money during the holidays!

1. Create a holiday budget and gift list. Write out a budget of all your holiday expenses and pay special attention to the gift list. Specify on the list who you are buying for and how much you plan to spend on each person. 

2. Comparison shop. If you know what you plan on buying for certain family members, be sure to compare prices among different retailers so you’re getting the best deal.

3. Start shopping now. The earlier you start, the more likely you’ll be able to stick to your budget. Also, if you do a lot of online shopping, making your purchases early will allow you to save on shipping costs.

4. Swap decorations. Instead of buying entirely new decorations for the home or tree, exchange decorations with friends or family members.

5. Carry cash. Eliminate the temptation of putting purchases on your credit cards or bank card by leaving them at home and paying for purchases in cash as much as possible.

6. Redeem your reward points. If you have a credit card with which you’ve earned a lot of reward points, redeem the points for merchandise that you can give as gifts. Similarly, if you have unused gift cards from your last birthday, consider using them to buy presents for other people.

7. Do a gift exchange with the family. Consider drawing names so that each family member buys a gift for only one other person.

8. Make it a kids-only holiday. Agree to only buy presents for the kiddies this year. This will help all of the adults in the family save during the holiday season.

9. Make DIY gifts. The most thoughtful gifts are the ones that are homemade. Baking cookies, making homemade soaps or creating a photo scrapbook are just some of the great do-it-yourself projects that make for wonderful gifts.

10. Forget the store-bought wrapping paper. Instead of fancy bows and ribbons, use cloth gift bags or brown paper packaging, which you can decorate with spray paint or glitter pens. By opting for eco-friendly gift wrapping, you’ll be saving money and the planet.