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There’s nothing like losing your job a month before Christmas to add to the stress of the holidays. Yep, that’s right…it’s November and I’m officially a BROKE single mom. How do I plan to afford Christmas when Mom is broke you ask?
1-Start Saving Early
In anticipation of the holidays, I always try to start saving early on and putting money back throughout the year. Remember, saving even $20/week=$1040/year.
2-Budget
If you don’t already have a budget for the holidays (or for all your finances for that matter), you need to get on that…like yesterday.
First, you have to figure out how much you can afford to spend on Christmas. How much can you comfortably afford for Christmas that won’t put you in debt in the New Year?
Next, make a list of any expenses you might spend money on during the holidays. Your list might include things like:
- Christmas Lights/Tree/Decorations
- Christmas Dinner/Holiday Meals
- Family Christmas Cards/postage
- Gifts (children, family members, work colleagues, etc)
- Stocking Stuffers
- Gift wrap (wrapping paper, bows, bags, tags, etc)
- Christmas Outfits
- Family Christmas photos
- Christmas Activities with Kids/Family
- Crafts
- Holiday Travel
Finally, go through your list and determine which items you can cut entirely, which you can spend less on, and which are absolutely necessary. Remember, Christmas does not have to cost a fortune. Your kids and family will always remember the time spent together and memories made much more than the price tag spent on the holidays.
3-Homemade Christmas Gifts
Deciding to go homemade for Christmas gifts is a great way to save some money, plus add a thoughtful and meaningful personalized touch. Check out the post here for Homemade Christmas Gift Ideas.
4-Shop on the Cheap
When trying to afford Christmas on a tight budget, don’t be afraid to shop around. Check out places like Facebook Swap & Sell, Craigslist, consignment shops, discount stores like TJMaxx or Ross’s, thrift stores, and even dollar stores.
5-Sell your Old Stuff
If your house is anything like mine, you probably have plenty of things lying around or in a closet somewhere that could be sold for some extra cash. Selling them on Facebook swap & sell or Letgo can be a great way to make a few extra dollars and get rid of some clutter.
6-Use Cashback Apps when you Buy
If you DO spend money on gifts, make sure you aren’t leaving money on the table. Cashback apps are a great way to maximize those Christmas dollars. Check out:
7-Buy Christmas gifts for Less People
For large family gatherings or office Christmas parties, suggest a White Elephant swap or Secret Santa instead of buying for everyone.
8-Take advantage of Black Friday Deals and other holiday sales
If you spend some time looking at Black Friday ads and comparing deals, you can find some great bargains on items on your list.
9-Earn some extra cash with a Holiday Side Hustle
Who doesn’t want to earn a little extra cash around the holidays? Check out these holiday side hustle ideas and get busy earning!
10-Save money on Food
Big holiday dinners can get costly. Here are some ideas to cut the costs:
- Use Coupons
- Buy in bulk when possible
- Minimize side dishes & unnecessary items (I don’t know about you, but we always have entirely too much food left over. Cut the excess to save some money and minimize waste.)
- Join and Use Store loyalty programs
- Go potluck style (divide up the cooking and save some money by having everyone bring a dish or two)
11-Try Paribus
Have you heard of Paribus? If not, you definitely need to check it out here. Paribus reviews your online spending and negotiates a price match just for you, then credits the extra money back to your account. How awesome is that
12-Minimize the Kids’ Gifts by adopting the 4-Gift Rule
Can we all just agree that the spending and amount of gifts for our kids has gotten WAY out of hand? Why not adopt the 4-Gift Rule this year: Something to wear, Something to Read, Something you Want, and Something you Need.
13-Quality Time over Quantity Gifts
Kids will always remember the time you spent with them more than the AMOUNT of gifts or money spent. Make it a point to spend more quality time with your kids doing family activities, and less money this year.
Check out this post to find ideas for Free or Cheap Christmas Activities for Kids.
See, you can afford Christmas, even when Mom is broke.
Hopefully I’ve given you some ideas for how to make Christmas special, even on a tight budget. Do you have a tip for how you’ve saved on the Christmas spending? Head to the comments and let me know!
Then please pin and share this post with your friends!
