Saving money

How To Reduce Your Christmas Spend

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By Bessie Hassan

Christmas is a time that’s notorious for spending big, but don’t let the fairy lights and Christmas cheer fool you into spending more than you need to. If you’re on a bit of a budget this Christmas, here are some things that you might want to consider to help you cut costs.

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1) Regifting

Regifting is a great way to reduce your Christmas present spend. Say you receive a piece of jewellery that’s just not your style, or it’s silver and you like to wear gold. That doesn’t mean it should go to waste. Instead, why not regift it to a friend or family member? Make sure you don’t regift to people in the same friendship circles though. You don’t want to get caught out and have to explain to your aunty why your sister is wearing the same shirt she bought you last Christmas.

2) Try your hand at Kris Kringle

If you have a large family, purchasing Christmas presents for everyone is an expense that can definitely add up. If you’re comfortable, suggest a budget per present. That way you’re not expected to fork out too much or left feeling uncomfortable when you receive a gift that obviously cost more than the one you gave. Better yet, why not try Kris Kringle? You’ll only have to worry about buying a gift for one person, which means you can increase your budget if you like, and you get the added bonus of trying to figure out who gave who what.

3) Do odds or evens for your Chrissy lunch

Whoever hosts Christmas lunch is always in for a big day, not to mention covering the costs involved in catering for the whole family. A good alternative to this is odds or evens. Whoever was born in an odd year needs to bring a sweet dish and whoever was born in an even year needs to bring something savoury. You can still keep the Christma traditions though. It’s not Christmas without a ham, some prawns and a pudding!

4) Start Christmas gift shopping early

For a lot of Aussies, Christmas shopping is a tedious task. We often procrastinate and put it off till the last minute. But if you’re rushing around the week before Christmas trying to find presents for everyone, you’re likely to: one, impulse buy and spend more than you really need to, and two, purchase a gift that is totally wrong for the receiver.

Instead, start your Christmas shopping as early as you can. That way you have time to think about how much you’re willing to spend per gift and you can shop around for the best price. There are also heaps of sales on between now and Christmas (which you can see below) where you might be able to pick up some pressies that won’t break the bank. Black Friday (24 November) is one of the biggest shopping days of the year and there are loads of deals to be had. Check out finder.com.au for a roundup of all the Black Friday deals and discounts.

5) Use discount codes

If you really want to shop savvily this Christmas you should consider discounts codes. These days you can find a discount code for almost anything. From clothing and beauty to alcohol and food, you can pretty much guarantee that there’ll be a discount code for all your Christmas purchases, so why not take advantage of them?

6) DIY gifts

Not only are do-it-yourself gifts cheap, they’re also much more personal and sometimes more meaningful too. If you’re a bit of a whiz in the kitchen, try your hand at making a jam or chutney or even Christmas themed cookies. You can even make a day of it and set up an arts and crafts station for your kids so that they can make presents for your family members and friends.

You don’t have to spend a fortune to enjoy and celebrate Christmas. At the end of the day, as long as you’re surrounded by those that mean the most to you, you’re bound to have a great festive season.

 

Bessie Hassan is the money expert at finder.com.au, the site that compares virtually everything.

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