The festive period rolls around predictably each year, with Thanksgiving marking the onset, followed by Christmas and New Year celebrations. Despite our awareness of this, devising and adhering to our Christmas budget can pose a real challenge. However, we’ve found effective ways to maximize our Christmas budget over the years, curtailing potential financial strain.
BUDGET TIPS
As is the case with many children, our kids yearn for new things constantly. So, when Christmas arrives, we’re never at a loss for gift ideas. Just because they are endlessly wanting doesn’t mean it’s easy to keep track of every item on their wish list. Over time, I’ve devised some strategies to mitigate this.
For example, when we’re shopping and our children spot a must-have item, I snap a photo of them holding the object, preferably with the price tag clearly visible. This allows me to remember what to look for throughout the year. I store these photos on my phone and Google drive for easy access, seizing the opportunity to buy these items whenever they’re on sale.
In addition, I have our older children email me the links to online items they want. I add these items to my Amazon cart and save them for later. I use a browser extension called Honey, which alerts me when the prices of my saved items decrease. This tool has facilitated significant savings!
SELLING ITEMS
An effective way to boost our Christmas budget is by selling old or discarded items we no longer need. With five rapidly growing youngsters, we have an abundance of outgrown clothes and toys.
CONSIGNMENT
Periodically, we comb through the kids’ clothing, rounding up items that no longer fit, which we then sell at a local children’s consignment store. Sometimes we take store credit, which is more generous than cash, but usually we opt for cash to add to our Christmas budget.
AMAZON TRADE-IN
We also sift through our electronics, trading in unwanted items on Amazon’s site. While we don’t get a vast sum for our outdated electronics, every little bit helps. Once these items are shipped off to Amazon, they swiftly credit my account, a handy boost for our Christmas budget since many of our kids want Amazon products.
NAME DRAW
Our expanding family sizes required a change of approach with our Christmas giving. Now, rather than every individual purchasing gifts for each family member, we draw names at Thanksgiving. We have separate draws for children and adults, which in combination with a $20 limit for each gift, considerably lightens the financial load.
DIY GIFTS
Since I enjoy baking and once owned a gluten-free bakery, I frequently prepare homemade goodies during the festive season. My toffee recipe is a hit with friends and family and makes for a cost-effective gift. Using this approach, the cost is approximately $1.43 per gift, enhancing our Christmas budget.
Gifting something you’re skilled at making can create delightful surprises while keeping the Christmas budget in check.
MAXIMIZING THE CHRISTMAS BUDGET
There you have it! Our tried-and-true tips for managing our Christmas budget with five children and extended family. These tactics have allowed us our holiday celebrations without wreaking havoc on our finances.
Have you experimented with any of these budget-easing tips? What do you do consistently to keep your Christmas budget trimmed and protect your finances?
