5 Money saving tips to keep your budget on track during the holidays

5 Money saving tips to keep your budget on track during the holidays

Let's face it, the holiday season is usually the time of the year when a lot of moms and dads tend to go a bit over their monthly budget and fail to save money because of the numerous celebrations as well as giving out gifts.

However, with these tips, you can still have fun during the holidays while still managing to save money!

1. You don't need a lot of food during your Noche Buena

Some people tend to spend their Christmas bonus on their Noche Buena. However, this really isn't a good idea because it's much better to save your bonus for the next year.

Instead of buying a lot of expensive food, you can just buy 2-3 main dishes and have a simple Noche Buena. After all, the most important thing would be to focus on your family and just enjoy the holidays during Christmas.

2. Cut back on the money gifts

You don't always have to give all of your inaanaks cash gifts during the holidays. You can buy sweets or small toys to give them as gifts.

It also helps prevent children from expecting money during the holiday season as it's not a good idea to let kids get used to it.

3. Shop early and avoid the Christmas rush

If you shop early, you'll avoid the Christmas rush and potentially save even more money. That's because it's really not worth the hassle trying to get in on those "Christmas sales" which more often than not, don't really give you a lot of savings.

4. Simplicity is key

You don't need to be extravagant during the holiday season. After all, the essence of Christmas lies in giving to others as well as focusing on Jesus Christ.

Try to be less extravagant and focus on having a simple yet more meaningful celebration this Christmas.

5. Work with your budget

Another important tip would be to set aside a budget for Christmas and make sure to work within that budget.

Don't try and extend your budget, even by just a small amount, because that would defeat the purpose of having a budget in the first place.

Plan your budget in advance and make sure to work with it and think of creative ways of how you can go about it.

Source: livinglifeph.commoneyadviceservice.org

READ: Teach your kids to spend their ‘aguinaldo’ wisely!

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