By Ryan Laspina
Analyst, Red Flags and External Reviews at APUS
No time of year makes us indulge more than Christmas and the New Year holidays. Whether it is eating too much food, drinking too much or spending too much money, the holiday season causes us to overindulge. But there are ways to save a few dollars this time of the year:
- Reuse gift bags, wrapping paper, tissue paper and so on. It may seem like a small saving, but the cost of gift-wrap materials really adds up. If you get a present in a gift bag, reuse the bag for a gift to someone else.
- Remember that giving and receiving homemade and/or sentimental gifts is not the “cheap way out.” Sometimes, those gifts mean more than an expensive piece of jewelry or an electronic device.
- Make New Year’s Eve about being around the people you love and care about, not about the party. Bar tabs, dinner bills, tuxedo rentals and fancy dresses for New Year’s Eve can really hurt your wallet. Keep your celebrations simple as you ring in the new year.
The holidays are a special time when most people do not want to think about budgeting and saving. You can still enjoy the holidays with your family and friends without spending lots of money.
If you do decide to indulge during the holidays, make a New Year’s resolution to really focus on budgeting and saving throughout 2017. This way, the holiday season next December won’t take such a big bite out of your wallet.