Top Tips for Simple Holiday Savings

 _{By Bromwich+Smith Staff | 737 words | Reading Time: 3 minutes and 41 seconds | Date: 2022/12/13}

The holiday season, is a magical time filled with joy, and anticipation but also full of and stress and concern.  Add in the COVID19 pandemic, inflation rates, increased grocery prices and the stress levels really start to rise.  Many Canadians have struggled and continue to experience debt stress.  Let’s at least ease some of your holiday financial stress with these tips for simple holiday savings.

1. Plan for everything! Holiday entertaining is an essential part of the Christmas season, and this year after years of being apart from loved ones we are looking forward to in person gatherings. Taking some time out to plan how many meals you will host, how much baking you’d like to do and how many hostess gifts you may need can save you a lot of time and money.  Once you have a list of the food you will need, make room in your fridge and freezer.  Start shopping flyers, online sales and special offers. Spread out your holiday shopping as much as you can. Know that you can always gift yourself the gift of No. If you or your budget are not up for hosting- it is ok to say No! Take the pressure off your shoulders this year, and only commit to those events that you want to participate in, and those that you can afford to.
2. DIY gifting.  Do you have memories as a child making gifts for family and friends? Maybe some of your holiday décor is a blast you’re your past. Often, the best and most treasured gifts are home made.  Most mom’s have a drawer full of their kids’ hand made gifts and as adults, we sure appreciate the work and talent of a home-made gift.  Explore what you love to do. Maybe your butcher, a baker, a candlestick maker! Jokes aside, find what you love and your loved ones will love it too! The best part is that you may be able to find a side hustle with your loved hobby! Many people are looking for homemade items and you can advertise your skills online. Keep in mind, we suggest homemade gift out of love but also as a cost saving strategy so be sure to pace yourself with online inspiration and really focus on spending less on a DIY gift than you would if you were to buy a store bought gift. The possibilities for homemade gifts are endless! 
3. Online shopping Tips. Online shopping has become the main way we shop and there is no sign of online shopping slowing down.  Online shopping, just like in person shopping has its pros and cons.  Here are some simple tips to keep in mind with your online shopping:
   1. Know the refund/exchange policies and save your receipts, sometimes you can take advantage of the price drop in January
   2. Look for and be sure to use all coupon and promo codes
   3. Watch out for offers that could have you overspending. This includes the new Buy Now Pay Later trend
   4. Clear your cookies and history for browser security, and to ensure you are getting the lowest prices! Ever notice the more you check on that dream vacation, the higher the prices seem to be?
   5. Be sure to check your credit card or online banking statements regularly to watch for any errors or fraudulent charges
   6. Know your credit card billing cycle and spread your shopping over 2 cycles if you can. Try to pay off your credit card purchase right after ordering, to ensure you keep your budget in check.
4. Set one financial goal for 2023 and start a small,  saving plan now as a gift to yourself.  Many banks allow you to open several savings accounts for free and set up an automatic monthly withdrawal to those accounts.  Spread the cost of Christmas time gifts, meals, hostess gifts etc. over the entire year, divide the total you want to spend by 12 and put that portion into your savings account, automatically each and every .  Imagine a January where you are not feeling the pressure from the overwhelming Christmas bills!  Give yourself the best gift ever this year, the gift of a debt free January! 

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