1. Plan Your Budget and Make a List – Be like Santa who makes a list and checks it twice. If you haven’t made a list and planned out your budget or have not gone shopping yet, you can prepare a last-minute list. Spare several minutes today and see how much money you are thinking of spending for this entire season. List everything you want to buy for gift giving. List down parties, family dinners, and gatherings that you are likely to spend some money on. Finally, stick to your plan.
2. Look for Deals and Discounts but Avoid Impulse Buying – It is best to look for deals and discounted products and services. You can do this online or offline. However, try not to buy out of impulse just because you are chasing the savings. Think carefully on how important and useful the purchase would be.
3. Create Your Own Personalized Gifts – Making your own gifts is like hitting two birds with one stone. You not only save some money, but you can also add a personal touch to your gifts. If you still have time to spare, try making your closest family and friends little but memorable custom gifts.
4. Pay in Cash – instead of using your credit card, it would be wise to pay in cash so that you can monitor how much you are really spending. It is easy to get carried away when you use your credit card. If you want to limit your spending, just bring the amount you plan to spend and just maximize it.
5. Organize a Potluck Party – Instead of buying everyone dinner, you can suggest a potluck party where everyone can share a dish. Aside from it being financially practical, you also give guests a chance to celebrate the spirit of sharing.