The thought of Christmas makes many cringe from the fear of financial crisis. It is easy to get caught up in the moment, which is why it’s so important that you take control of your finances when you can. In reality, while giving is perhaps very important, it is the time you spend with your loved ones that matter. Evidently, we do not remember what we had each Christmas, but we remember those we were with during the festive season. Sometimes, your presence may be just the right gift.
Nevertheless, if you are willing to spend this period, here are few steps you should follow to avoid overspending:
Give a homemade gift:
Rather than waste money in choosing the right store packed item to gift out this Christmas, choose to give out a homemade gift. Never underestimate the value of a homemade gift, or even your skills. There is no one on earth who does not have some sort of skill or hobby that can be used to give someone a gift, plus it makes the gift unique and distinctive as it shows that you put in your heart and soul while thinking of the recipient’s likes and needs.
Buy only what can be taken back:
True, that you do not have a legal right to return an item just because you do not like the present you got or just because you change your mind, it is best however, to get items from stores with good will policies, that can allow you return the gift and get a refund or get an exchange, provided you have not used the item, and it is still in its original package with its receipt. Keep the receipts in case something needs to be exchanged. Imagine buying a shoe for a niece only to find out that you got the wrong size of shoes, it would cost double if you buy at a place with no return policy, but imagine, for example, you return to a shop owner at Isale Eko, and you are allowed to exchange the shoe, just because you are her customer.
Avoid Excess:
While we all want to have a luxurious Christmas, it is wise to buy according to your needs, by prioritizing what you really need, and you can cut down unnecessary expenses. Identify where you can reduce your expenses and save money. This Christmas, identify your needs or basic necessities. Then, identify the things you want but could do without, if you had to. While eating may be really important, eating out, or unnecessary entertainment and recreation, may not be that important. You can plan entertainment ideas with your family rather than perhaps, buying a table at a comedy Concert.
Smart Shopping:
Try to get the best value you can when shopping for gifts, look for offers in the shops, three-for two deals and so on, but remember the value is only there if you actually need the three items. Stick to cash, you will spend less than using debit and credit cards. In addition, create a list and work from the list to avoid unplanned, impulse shopping. Also, leave the children at home. Please, remember the shops only close for one or two days, so there is no need to stock up on food.
Be open with your spending:
When we struggle all year round, with little cash to spare, we often feel we need to take a break at Christmas, it is true that we want our children and our loved ones to have the best. However, that doesn’t always mean spending a fortune, particularly a fortune you don’t have. Rather than becoming Father Christmas himself, be open about your finances with your family, even Santa has been hit by the recession. That way, you would spend more on experiences that would get you, your money’s worth. All those relatives in the village may not necessarily need all of those gifts you assume they need. Take the time to be with those you love – and those you love will not want you to worry, and to struggle for six months to pay for the gifts they didn’t need.
