It’s Not Too Late to Be Frugal for the Holidays!

With only a week left before Christmas, you are probably feeling one of two ways. You may feel like you have blown your budget and it’s too late to do anything about it. Or, maybe you have been faithful to your plans of staying frugal during the holidays this year. Possibly, you are somewhere between these two scenarios. I thought I might offer some ideas to help you get through the remainder of the holidays – it really isn’t too late to enjoy the holidays and keep your money in your pockets.

If you still have shopping left to do before Christmas, stay away from the expensive department stores and shop instead at stores that offer good discount prices. Don’t be lured into buying more gifts for those on your list that you have completed shopping. I know I get “insecure” after I have finished my shopping, and start to question whether the presents I bought are the best I could do. I might see something else that would make a better gift. I’ve learned to accept that I don’t have to always buy the perfect gift. I’m also starting to downsize the amount of presents I give. This might take a few years, but you can begin this year to alter expectations. You are the only one that can control the expectations you create for the recipients of your gifts.

Spend a night with your family listening to Christmas carols with the only light coming from your Christmas tree. Reminisce about the year – have each person take some time to talk about their favorite memories from this year. A variation of this theme for the New Year’s holiday is to spend an evening discussing hopes, dreams, and goals for the coming year.

For recreation, check the newspaper for local community activities such as choral groups, pageants, high school choirs, and other holiday events that are free or require low priced admission.

Drive around different areas of town to enjoy the brilliantly decorated homes. Every few nights pick a different area – better yet, park the car and walk around a few blocks really soaking it in.

Rummage through the pantry and freezer and create meals that are simple and don’t require a lot of energy or money. Use the crock pot, make soup and sandwiches, eat an omelette and hash browns for dinner, and treat your leftovers like a buffet style dinner. Groceries can be expensive and meal preparation is complicated enough on the holidays, so think frugally and simplify your life before Christmas and before New Year’s Eve. You’ll not only save money, but you will be less stressed when it comes to actually preparing the holiday meals.

Enjoy your get-togethers with friends, but find ways to simplify them. Instead of making the entire dinner, make it a potluck. Bring more of your friends together on one night instead of having 3 or 4 different occasions planned. If everyone contributes one or two dishes, you’ll have plenty to eat and the work doesn’t fall to one person. If you have a variety of friends who haven’t met, this is a great opportunity to bring a new mix of people together and stir things up a little bit.

Instead of exchanging expensive gifts with friends this year – have a white elephant exchange during the potluck dinner. Everybody can either bring something from home or you can set a limit of $10 per gift. I’ve played this exchange in a variety of ways – one is to go around the room and each person can either select a gift from under the tree or take a gift from another individual that has selected one. It is normal to set a limit (such as 3 times) that a particular gift can be taken from another person. You can make up your own rules, but the main idea is keeping the cost of exchanging gifts to a minimum. I’ve played this game where people have brought a gift that they just can’t wait to get rid of from their house. This creates a really fun environment, and even though you might not leave with something extremely useful, you’ll get a lot of laughs from it.

Extend the white elephant gift idea to other groups where gift exchanges are expected or have become traditional, such as office or neighborhood gift exchanges. You can enjoy the holiday spirit and camaraderie without having to spend lots of money.

Make a list of favorite Christmas movies and check them out from your local library. You can always catch this year’s latest Christmas release on video by next year.

Plan to hit the shops the day after Christmas for their spectacular markdowns. Although this doesn’t make Christmas this year very frugal, you can save lots of money by finding some nice Christmas gifts reduced by 50% - 75% for the coming year(s). Also, make a list of items that you wish you had while decorating and preparing for the holidays this year. Burnt out lights or more ornaments needed? Are you getting low on wrapping paper? Plan to hit the stores early on December 26^th, accompanied with your list of needs and desires or special interests of others. Continue to check the stores in the following days – prices will be reduced even further, but the selection will become more sparse.

I wish you joy and peace during the Holiday Season – may your families stay safe, warm, and happy and may your money remain securely in your piggy bank!