3 Tips to Help Save Money to Offset Holiday Spending

By Brooke Drake, November 5, 2014, Save Money

BE - save for christmasIt’s the beginning of November: not only is the year almost over, shoppers have less than two months before Christmas. With parties, presents, and family gatherings, the holiday season brings much excitement and festivities, but it unfortunately can result in the “Big D.” And I don’t mean Dallas – I mean debt!

This year, we want to help you plan ahead by providing these 3 tips to help save money so you can hopefully offset some of the holiday spending.

1) Grocery Shopping with Purpose

While these suggestions can help you save money throughout the year, they’re especially helpful during the holiday season.

  • It’s all about the generics, which cost less and can help  lower grocery expenses. In most cases, generic products are just as good (if not better) as their brand name counterparts, so you don’t have to sacrifice taste for savings.
  • Make a list and only buy what is on that list. Be strong! While that sample tasted great, it doesn’t mean you have to bring it home.
  • Utilize the items already in your pantry and freezer. This is a great time to use up food in the freezer or remaining canned goods or pasta in the pantry. This lowers your food expenses while making some room in both places for upcoming festivities.

2) Utilize Rewards Programs

Many credit card companies offer rewards for their use; however, rewards often times go un-redeemed. So this month, check to see if you have accrued any rewards, and if so, review all the choices to see if any can be used for Christmas presents. A lot of times companies will offer various types of gift cards, which can be great to give away as presents.

Also, if there is a cash back offer, opt for that program as you can earn cash back on your spending, which is beneficial for your bank account. If you do have a cash back rewards program, use that credit card for all your spending this year so you can reap the cash back rewards for next year’s holidays.

3) Out with the Old Before Bringing In the New

Hosting a good ol’ fashion garage sale can be a great way to clear out the clutter of old or unused items with the beauty of earning extra money. If you don’t have enough items to constitute a garage sale, then sell the items you do have on Craigslist or Ebay to make some additional money. Personally, I like to list all items that are too big or bulky to ship on Craigslist and use Ebay for the items that are easier to ship.

Do you have any tips for helping save money to offset increased holiday spending on presents and parties? Share them with us in the comments!

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