Think Long-Term When Reducing Holiday Expenses

Let’s face it.  No matter how hard we try, it’s a challenge to save money during the holidays.  Even the most well-intentioned shoppers usually find that they spend more in December than any other month.  However, the holidays don’t have to be a total drain on your budget.  You can even turn seasonal expenses into long-term savings.  Here’s how: 

With the holidays in full swing, it’s difficult to find time to get everything done and even harder to find a reliable babysitter to help while you enjoy parties or go shopping.  Use the Christmas Crunch to your advantage and consider starting a babysitting co-op with other parents to help reduce babysitting expenses when you all need it most. 

Credit Card Savvy 

For most consumers, it’s hard to get through the holiday season without using a credit card.  If you can swing it, curtail the urge to put it on plastic.  Research shows that consumers are willing to spend more, sometimes up to twice as much, when using credit cards.  Following an all-cash strategy can help you spend less overall as well as avoid that sticker shock when you open your credit card statement in January.

While cash-only may be the ideal route to go, there are ways to benefit while putting it on plastic.  If you do carry a balance from month to month, put your purchases on the lowest rate card you have to reduce interest charges.  Additionally, find a card with not only with a low rate but one that rewards you for your purchases in a way that works for your own lifestyle. 

Gifts That Make (Financial) Sense

Everyone wants the latest electronic gadgets this year, and cell phones are typically at the top of many lists.  If you're shopping for a phone, remember that you're not only paying the initial sticker price -- you're also committing to a monthly fee for the next 12 to 24 months.  Now may be a good time to research the major mobile providers, re-evaluate your plan and find the best deal for you.

One example is the customized service bundles offered by Sprint, saving you hundreds of dollars over the course of a year.  Sprint's Everything Messaging family plan, for example, allows two users to share minutes, unlimited texting and video/picture sharing for $99.99 (compared to $120 or more elsewhere).  If your teenage daughter doesn't need the voice minutes, you can sign her up for a plan with unlimited texting and data with fewer minutes.  

By studying the wireless options, families can save at least $480 on their service and put it toward car payments, groceries or children’s college savings.  Consider dropping your landline to save even more.   

Get Creative with Supermarket Specials

Grocery stores compete for your business during the holidays more than any other time of year.  Many offer turkey, ham and baking ingredients such as spices and pie filling as loss leaders to entice you to walk through the door to spend more.  Take advantage of these deals and stock up in order to maximize long-term savings throughout the winter.

Let the sales spur your creativity. That may mean searching for new ways to use the pumpkin pie filling or walnuts you found on sale last week.  Use the opportunity to try a new recipe and impress your friends and family.  Thinking outside the box can open up a whole new world of possibilities for the ingredients that are readily available.  Plus, you just may discover a favorite new dish!

I’m Dreaming of a Green Christmas

For many families decking the halls means adorning the house with a breathtaking display of holiday lights.  However, all that holiday flair comes at a price.