Top 7 Tips to Control Your Spending During This Year’s Festive Season

Last Updated July 17th 2019
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Money is very much an important part of the holiday season. As much we appreciate the spiritual and magical part of the festive season, as well as all those valuable and important things that cannot be seen with your eyes but can be felt with your heart as Saint-Exupery says.

Money is no less important for the holiday season. Money is the lifeblood of the majority of the holiday activities you are planning. Because of the holiday season, as we know very well, costs some money.

To be more specific, around 500 British pounds per a member of a household in Great Britain just for Christmas alone as 2017 reports show.

We can only expect the festive madness to continue this year, at least these are the predictions of the renowned Mintel statistics and reports.

While every marketing and advertising attempt and endeavour out there make us believe that the festive season is simply the best time to spend, and splurge, and pamper, scope some jaw-dropping shopping deals, while shoppers continue to indulge on deep discounts, money will continue to make this world go round during the 2018 holiday season!

As much as many people often remind that money is not the key to happiness, we prefer to think that freedom is a key to happiness and money give you a freedom, so the more money you have, the more freedom you enjoy.

Celebrating the festive season on a budget is definitely not an option for many. After all, you need money to buy something as simple as the mistletoe in order to create some sort of a festive atmosphere of excitement.

Not to mention that you would like to spread some cheer by buying gifts for the entire family, decorate the entire house, pamper yourself with a holiday away to reward yourself for the long year of hard work.

However, here is a reality check for you – as much as holiday shopping is a lot of fun, hunting down a few festive discounts too, the Christmas feast tend to leave you with a thin and light wallet every year.

Believe us, even unplanned purchases and impulse buys will not be that harsh on your savings if you make sure to keep your budget in check and follow this list of seven very helpful tips and hacks assisting you in managing your money effectively.

At the end of the day, following these 7 tips to control your spending this festive period will help you not only avoid going overboard on holiday spending but also save up some money.

The more money you save, the more money you will put in investments that could generate you even more money and make you significantly wealthier and prepared for all festive seasons to come!

You might also like: Most People Have No Idea What an Investment Is, Do You?

Tip 1: Jingle bells, budget all the way!

create budgets for the holidays

Start things off by creating a budget that can work with your holiday guests, the people you plan to surprise this year with a gift, and, of course, with your wallet.

Do not go overboard and do not spend money you don’t have or money you need for something else outside the festive season.

Consider all the costs a holiday party could require including decorations, drinks and food, little presents, games, and all other details that can quickly pile up into a pyramid of money you cannot afford.

Work with what you have and don’t go beyond what you don’t have as a budget.

We all want to throw a spectacular party or make our loved ones feel extra pampered and happy with some jaw-dropping gifts but this is not the case every year.

If you have to, you better bite the bullet and cut off some unnecessary costs you cannot afford.

A list of all the people you want to buy a gift for or invite to celebrate on your party can be a major helping hand in this case as it will navigate and guide your holiday shopping and assist you in cutting off non-controlled spending.

Do not forget to include even the smallest details in the list, things like stocking stuffers can easily pile into a significant number in your bank account.

Festive parties can get very expensive and we often tend to get overboard with food and drinks so try to be reasonable and buy only what will leave you with fewer leftovers as possible.

Drawing a defined line at where your budget starts and where it ends is very essential to control your holiday shopping habits and help you save some money you can invest later on.

We at Trading Education often like to think of holiday spending like a trading strategy on the forex or stocks and shares markets. When things turn out to be too dicey and there is a potentially high risk of ending up with a major loss of a lot of money you otherwise need for living, you better manage the risk and prevent the crash on time.

See also: The Number 1 Financial Regret You Want to Avoid At All Costs

Tip 2: Do your research and hunt down the best deals

hunt down the best deals

Holiday discounts and sales are always advertised as a great bargain but this is not necessarily the case.

However, you need to buy a lot of presents, decorations, cards, props, food, and drinks for the holiday parties and you are still going to do it during the festive season so why not hunt for some discounts and sales.

Think of it as cutting off unnecessary costs and saving up some money you can invest into something important later on and you will see that all the hard work of doing research, keeping up with the discounts everywhere, and cutting discount codes, vouchers, and coupon codes off the newspaper worth it at the end.

So make sure to know where and when the best deals are. In order to research thoroughly and be able to find some great deals, here are a few simple yet very effective ideas.

Always compare the online price and the price at the store, sometimes there is a difference or a discount for online purchases. Less expensive items often go on a sale the week before Christmas so consider some last-minute shopping. Of course, look for some coupons online, in the newspaper, in circulars, etc.

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Tip 3: It’s the most wonderful time… for alternatives!

A gift does not have to be extra expensive in order to be meaningful and make someone happy.

Often the things we do with love for the people we love are just enough. This holiday season you can think of alternative gifts or alternative ways of gifting in order to cut off the unnecessary holiday spending.

Yep, store-bought items are often great but alternative gifts such as something DIY you made yourself, a poem you have written for someone, or an experience you can offer to someone for free is much more magical and exciting.

So make sure to consider alternatives such as handmade and DIY gifts such as crafts, baked goods, music playlists, a massage, even a link to one of the amazing free educational courses we at Trading Education are offering which can change someone’s life and provide them with a purpose and a career.

Instead of giving presents to friends, you can offer to arrange a dinner or a dessert gathering. You may even end up surprised by how many of your friends will be relieved that they can save money this holiday season.

Tip 4: Buy all the gifts Ho-Ho-Honline

buy all the gifts on a budget

You definitely don’t have to break the bank in order to surprise and pamper your loved ones. Buying on a budget can be as meaningful and pleasant for your family and friends and sometimes the best deals are available online only.

According to a recent report by the Mintel’s Retail and Apparel Analyst Alexis DeSalva, during the 2018 festive season, people are planning to shop for gifts across a variety of stores, both offline and online but the growth in online shopping is still likely to continue and there is no wonder why.

With so many online retailers and so many gifts that are one click away, online shopping is a great way to save money from online-only discounts and free shipping but if you are not careful enough you can easily fell into the trap of bad spending habits and make some impulsive purchases while not noticing your bank account numbers getting lower and lower.

Online shopping is truly amazing but it requires a good discipline as many things in life. As we at Trading Education like to think, discipline is a key characteristic when you try to save up or make some money. Discipline is also highly valued in endeavours such as the forex trading, stock trading and crypto trading alike.

Don't miss: Learn Online Forex Trading for Free

Tip 5: Work, save, travel, celebrate, repeat

work save travel celebrate repeat

Coming together as a family and enjoying and celebrating the festive season with all your family members is one of the most special and magical things of the Christmas season.

Unfortunately, considering the life the modern-day person has, we often live and work away from our families. This is why travelling is one of the biggest expenses for many people around the world during the festive season.

Hotel and accommodation costs, flight tickets and other transportation methods, it seems like everyone is going overboard for the upcoming Christmas holiday season and all this pretty much upsets your bank account, to say the least.

However, enjoy Christmas with your family is still important to most people and they are willing to dive into the chaos of holiday travelling and all its disastrous costs and hope to survive.

Fortunately, there are some ways that can help you cut off some of the costs and fees including: follow airlines and airports on social media and keep an eye for promotional codes and discounts they may publish; travel with a carry on only to save up on additional baggage fees and make sure your luggage won’t get lost due to the increased air traffic and the crazy number of passengers; do not bring gifts in your luggage, better ship them to your family; eat before you get on the plane and skip on the expensive airline food and snacks; shop around for travel dates and airlines; travel with a large group to reduce costs with shared expenses.

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Tip 6: Have yourself a merry little extras cut-off

It is easy to be carried away with the overall cheerful atmosphere during the festive season and decide to indulge yourself with what seems like some little joys you otherwise won’t consider all year-round.

However, all those holiday extras, as we call them, can quickly put an expensive price tag to the last month of the year.

Some will invest some hard-earned money in a new pair of shoes or two, others would like to remember Christmas 2018 with a photo session with Father Christmas.

No matter what you fancy this Christmas, do not forget that the money you are splurging on some unnecessary holiday extras can actually be used for something more meaningful such as making an investment.

As an example, investing in education or investing your spare funds in a trading account is a far better way that could bring you a profit. So make sure to cut back all the festive extras, otherwise, these will quickly eat into your budget.

People also read: When Is the Right Time to Start Investing? 

Tip 7: Do not splurge on gift wrapping

do not splurge on gift wrapping

Many of us opt for a professional gift wrapping just because we are not naturally good at doing that. However, paying someone to wrap the gift, no matter how stunning the end result is, is something that will definitely eat into your festive budget.

You have a few options in order to cut back this expense. First of all, some retail stores are offering free gift wrapping during the holiday season.

You can also opt for a more simple packaging such as a gift bag, it doesn’t take a genius mastermind to put the present into a beautiful bag.

Finally, you still have enough time to practice your gift wrapping skills! In case you still don’t want to do that and opt for a professional assistance, we suggest you use all this spare time in mastering something far more prescient so why not start learning forex trading?! 

In conclusion

You don’t want to be pressured to save up money every festive season, right? Sometimes we just want to splurge and pamper ourselves and our family and friends, spread the cheer and joy.

In this case, you should consider some alternative ways of making an additional profit. Forex trading is a great part-time activity that offers some opportunities to make a profit and possibilities of increasing your wealth.

One of the main factors that can significantly affect the success of your forex trading endeavour is the world-class forex trading education.

At Trading Education is provide you with a lot of chances to learn forex trading and explore your opportunities to become a forex trader through plenty of valuable and reliable hubs of information, knowledge, and skill development including free online courses when you register on the website, interesting articles, interactive quizzes, and entertaining and informative videos.

If you have enjoyed this article, make sure you like and share it with your friends so they too can benefit from these 7 simple festive tips to keep your bank account from reaching empty during this Christmas. Merry Christmas to you all!

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