By Kenneth Sullivan
The day after Thanksgiving kicks off the Christmas-shopping season—the time when retailers offer major discounts on various products for the holiday season. This day is known as Black Friday. Once the shopping season officially begins, we focus on purchasing decorations, food for dinners and parties, and presents for loved ones.
From homes to businesses, we love to brighten our neighborhoods and communities with festive decorations—twinkling lights, wreaths, bows, ornaments, and classic holiday figures (Santa Claus, reindeer, angels, snowmen, etc.). On top of that, we spend the season planning parties and family gatherings centered around large meals and gift exchange for family, friends, and colleagues.
However, buying all these decorations, hosting dinners and parties, and purchasing gifts all at once can become incredibly costly. Filling a table with expensive food, stocking a room or building with decorations, and buying presents for a long list of people can easily push people into debt and lead to long-term financial consequences. Even the beautiful array of holiday lights can spike our energy costs, resulting in an expensive electricity bill in January.
Fortunately, many family-budgeting experts and online home-management resources offer the following tips on how to save money while celebrating a joyous Christmas:
KEEPING TRACK AND CONTROL OF HOLIDAY SPENDING:
On Gifts: Talk to the adults in your family about skipping individual store-bought gifts entirely. Instead, focus on drawing names out of a hat to help you decide a specific person to buy for. This limits your shopping list so you don’t have to purchase gifts for everyone.
If shopping for children, utilize purchases from the “five-gift rule,” organizing five specific categories: something they want, something they need, something to read, something to wear, and something to do.
To keep packaging costs under a few dollars, avoid high-priced gift bags and luxury wrapping paper. Instead, pick up affordable, festive boxes and gift-wrapping supplies from discount retailers.
On Decorations: Before buying new decorations, you should take inventory to see what unused or forgotten decor is still in good shape. Check your closets, storage bins, basement, or attic.
Alternatively, you could create your own Do-it-yourself decorations without spending a dime. Gather pine cones, fresh evergreen shrubs, or tree branches from outside and arrange them in simple glass or mason jars. Pair these with soft, reusable string lights or a few candles to craft elegant, rustic centerpieces for tables or window sills.
Another way to make DIY decorations without spending money is to create incredibly pleasant-smelling, long-lasting tree ornaments right in your kitchen. Use a simple dough of applesauce, ground cinnamon, and basic white school glue. Roll out the dough, use standard cookie-cutter shapes, poke a small hole for twine, and bake on low heat until firm.
AFFORDABLE FEAST PLANNING: Host a holiday potluck by providing the main protein and ask your guests to contribute side dishes, appetizers, or desserts. Doing this, you don’t have to carry the financial burden of buying and cooking the entire meal yourself.
Instead of paying for a massive holiday turkey, choose a small whole chicken, affordable turkey legs, or turkey crowns roasted alongside classic root vegetables like carrots, potatoes, and parsnips. It is an easy way to cut your grocery bill significantly without sacrificing a traditional festive meal.
Keep a record of all the gifts, holiday groceries, and new decorations you buy. It will help you stay aligned with your overall spending. Do not wait until January to review your record.
USE LIGHT-EMITTING DIODE (LED) STRANDS OF LIGHTS: LED strings utilize up to 75% to 90% less energy with excellent durability. Standard Incandescent strands use a lot of energy and generate mostly heat rather than light.
REDUCE LIGHT BURNING HOURS: It is strongly recommended that we not leave holiday lights burning 24/7 or all through the night. Cutting light-operating hours in half immediately reduces your lighting power consumption in half. So use a mechanical timer or a programmable smart plug to limit your light display to a five- to six-hour window from sunset to bedtime.
Overall, these tips can help you stay within budget while still enjoying a joyous Christmas celebration.