Easy Ways to Save for Expensive Times

Birthdays, Christmas, holidays, social events. For families, the expenses associated with these times of the year can be high and as such, it can put a huge drain on finances. Whilst no one wants to go without, it can be hard to save in this economy and not miss out on some things you are used to having. You want to provide everything you can for your family and this includes treating them to the gifts they have asked for. It can be stressful to know where to find the extra funds at times but there are a few simple ways you can prepare for the times of the year where you tend to spend a lot more than usual.

Save, Save Save.

Whether you choose to put away a big lump sum at once or squirrel away a little bit as and when you can. It will all help. No one wants to get into debt to be able to give their family a great birthday or Christmas. So start saving early, put a budget into place and ease off some of the stress of having enough money.

If you are struggling to find the money to put away, look at your expenses and where you spend your money. Track your spending and make some small cutbacks like reducing the number of lunches you buy at work or coffees you drink on the go. Take your own coffee and/or snacks to save you buying whilst out and about. Save on petrol by walking more and leaving the car at home for smaller journeys.

The amount you can save this way may look small but if you spend $5 for coffee even 3 times a week, putting this into your savings account instead will soon add up.

Look at reducing some of your household expenses to see where you can save.

• Increase deductibles.
• Don’t pay for things you need relating to any insurance coverage.
• Improve your credit score.
• Reduce heating and utilities by using less and lowering your thermoset.
• Make a meal plan to help you reduce your spending on food. Add coupons to grocery shopping to help save more on what you buy.
• Reduce spending overall by paying cash and leaving your card at home. Take a set amount out with you and don’t go over that.

Plan Ahead.

Leaving everything until the last minute can sometimes end up costing you more. Write down everything you need to purchase for gifts, holidays etc over the year. Then plan when you buy what you need by finding dates that retailers reduce their seasonal stock or have sales. Buy out of season and put stuff away to save money.

Write a list of gift ideas for everyone. Look for the best games for the gamers in the family or offers for your kids favorite collectible toys or even offers for trips away, spa treatments or experience days. This will give you the time to look around for great gifts at even better prices to help you stick to your budget.

A great idea is to create wish lists for different family members and then you also have something to share with other family members who too need gift inspiration for that person.

Go homemade.

This is a great way to make savings. Make your own gifts and decorations for your family celebrations. Put your skills to the test and gift some out of the box ideas that you can treasure for years to come. Think upcycling clothes or furniture for around the home over buying new.

This is a great way to gift something extra special and show someone how much you care. So get the kids involved in making some homemade decorations you can reuse around the house each year. This can be fun for everyone and lets the kids get involved too. Let them discuss ideas for making family members gifts that they think they will love. This can be a present off them instead of or alongside a bought gift too.

There are many ways you can adapt your way of thinking and finances to accommodate those times where you need to spend more money than usual. The above suggestions are easy ways to get started however things such as creating additional income streams are also viable options too should this be something you need to consider. But with some forward-thinking and careful planning, those big expenses needn’t seem so daunting with a few small changes throughout the year.