How to Make Every Penny Count During the Holidays
The holidays are here and you know what that means? Chestnuts roasting on an open fire, Jack Frost is nipping at your nose and busted budgets all over the place. After all, you’ve scrimped and saved all year long and now is the time to indulge. Right? Wrong.
All frugal moms know the holidays are a time to take their game to an entirely new level. Sure, there are things you can make at home. And why buy a tree when you can use an evergreen from your backyard? But the task is never easy. As your kids are constantly pining over the latest and greatest holiday gizmo and you probably want to relax as well.
But just because the holidays are here doesn’t mean that you need to feel like you are all alone when it comes to saving your family from financial danger as here are some tips on how to make every penny count during the holidays.
There’s No Place Like a Savings Account for the Holidays
At least for where your money should go. Think about it you work all year long and then the holidays come, and you don’t have any money saved up. This is probably not positioned to be in and a way to get out of this trap is to set up a special savings account for your holiday spending. Doing so will force you set aside a little bit every week to cover the cost of presents and other items during the holiday season.
Guess what? Setting up a holiday savings account doesn’t need to be torture either. If you have a tag sale, then you can take a portion of the proceeds to set aside for Christmas cheer. The same holds true if you are looking to sell a junk car for cash.
For example, frugal moms in the high desert seeking a little extra money for the holidays could easily make the most of cash for clunkers in Utah. This way you can get enjoy the holidays without having to deal with the fallout when the holiday credit card bills arrive.
Two more tricks when setting up a holiday savings account. First, ask your employer to directly deposit the amount you want to save each week into a separate account. This will ensure that you never really touch the money. Next, don’t get an ATM card for this account as this will make sure you don’t succumb to the temptation to take out your hard-earned money on a whim.
‘Tis the Season – for a Second Job
Taking on a part-time job during the holiday season is nothing new, but it is something which money people forgot about. The reason is simple, our standard of living kept rising to the point that many people simply forgot how their parents scrimped and saved to make the holidays special.
But as a frugal mom, you know that the presents under the Christmas tree just don’t get there by themselves. As such, you understand the need to bolster your revenue – especially during the holidays. The beauty of taking on the right second job is that you might also be able to take advantage of the employee discounts some employers offer. Sure, this might seem like you are paying the company to work for them, but if a few hours of your time will help you save on your Christmas list, then this is a great way to make every penny count.
Keep a Close Eye on Your Budget
Our waistlines aren’t the only thing which tends to get out of control during the holiday season – our spending habits do as well. This calls for taking the time to review your budget and then to keep a close eye on it. Only in this way can you make sure that your spending doesn’t get the best of you.
An additional benefit of watching your budget during the holiday season is that you might find opportunities to save and this new-found money can be used to help cushion the blow from your holiday spending.
Make the Most of Sales – Before and After
If you want to save money, then you will understand the power of sales, coupons, and even mobile discount apps. These are great opportunities to make every penny count and you can even have fun finding hidden discounts that none of your friends know about.
For example, how can you benefit from the post-holiday sales to get a head start on your shopping for next year? Or, if you really want to ramp up the chance to be frugal, then get your kids into the act. In this way, you are not only saving money today, but you are teaching the next generation to make every penny count for years to come.
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