It is quite common for Christmas spending to get out of control, leading to a January spent in repentance as you tally up the bills, and taking on a second job to pay off the debt. We've all heard about shopping the sales and the mythical "cutting back this year", but how do you actually accomplish a Christmas that meets your expectations, without breaking the bank? Try these suggestions for lowering your Christmas expenses:
The Social Side of Christmas
Hosting a party is a lot of fun, but a big expense. People often keep tabs on the cost of parcels under the tree but will neglect to add up what's in the fridge and the liquor cabinet. While having people over is a fun part of the holidays, look for ways to enjoy the company without a huge bill.
* Avoid eating out. If you do go out, get together at someone's house for a drink before you go, and don't order drinks at the restaurant. Return to someone's house for dessert.
* Better still, have everyone over and make the food yourself, rather than buying pre-made appetizers and entrees. Look for recipes that can be made ahead and frozen, saving you a last minute panic. By stocking your freezer with homemade "heat-and-eat" food, you are ready for unexpected company or a pot luck with your coworkers.
* Don't feel obliged to serve a meal. Invite people over for afternoon drinks and hors d'oeuvres, or for evening drinks and dessert. Make the food yourself to keep this an inexpensive evening.
* Keep the liquor costs down by making homemade liqueurs, beer and wine. While special equipment is needed for beer and wine, homemade coffee or Irish liqueurs only need a few ingredients and a blender, and are fun to make too!
* Host a pot luck dinner. You can set a theme, or if you have an adventurous crowd of friends, tell everyone to keep their dish a secret! A random assortment of mismatched dishes can be a good way to start the fun and laughter.
Giving Generously
There can be an overemphasis on gifts this time of year. The giving and receiving of gifts is a time honored tradition and an important part of Christmas, so find ways to give meaningful gifts that don't break the bank.
* Homemade gifts are always welcome for the time and effort you spent on them, as well as the gift itself. Look for recipes for gifts from the kitchen, or if you practice a craft, use it to create something personal to give away.
* See if you can get your coworkers to have a "White Elephant" gift exchange. The only rule is that you can't spend any money on the gift. This creates a wonderful opportunity for creativity and hilarity as people dig out entertaining things from their basements or make homemade gifts.
* If they don't like that idea, e ncourage your coworkers to donate to a charity instead of a Christmas gift exchange.
* Make a gift of your time instead of buying stuff. Either spend time with your friends, or tell them you will volunteer at the local food bank in their honor. Invite them to join you you may find that spending time together doing something meaningful is the best Christmas memory you have.
The Greener Side of Christmas
The current push for greater environmental awareness is a great excuse to save money and keep costs down. The mantra of "Refuse, Reduce, Reuse, Recycle" is a perfect cover for saving some green.
* Reuse wrapping and gift bags, and make sure to save as much as you can for next year.
* Reduce the garbage created from cards. Send e-cards, or cards with the text written on a Post-It note inside, allowing the clean, unused card to be used again. Take the covers off the cards that have been sent to you and glue them onto a blank piece of paper to create a fresh card.
* Refuse to purchase new ornaments. Look for ideas for homemade decorations, using recyclable or compostable materials around your house. Avoid things like glitter which cannot be recycled.
Most importantly, remember that this is a season for celebration and getting together with loved ones. You don't need to overextend yourself financially in order to show the people around you that you care about them and that you remembered them this holiday season.