The holidays are upon us, and according to a report from the Retail Council of Canada, the average Canadian will spend about $900 per person for the holiday season this year despite inflation and rising costs.
While the holiday season makes it tempting to splurge and run up those credit cards, here are a few tips to help you reduce spending this season.
Shop with a List
The allure of holiday sales and promotions can make it tempting to overspend. Combat impulse buying by creating a detailed shopping list on your phone. Having a clear plan helps you stay focused on your needs, minimizing the chances of unnecessary purchases while navigating the mall.
Control Amazon Spending
In the age of online shopping, Amazon’s convenience can lead to overspending. Take control by turning off the 1-Click purchasing option. Navigate to Your Account › Your Payments › Settings › Your Purchase Preferences and turn off the 1-Click spending button. This simple step adds an extra layer of consideration before finalizing your purchase.
Compare Prices
Before making any purchases, conduct a quick online search to compare prices. With numerous retailers offering competitive deals, seizing discounts can significantly impact your overall spending. Be proactive in finding the best deals online or in a store.
Set a Spending Limit
Establish spending limits with family and friends in advance to avoid the financial strain of holiday gift-giving. Communication about budget constraints can help everyone enjoy the season without the stress of overspending. Additionally, consider the charm and sentimentality of handmade gifts, which often carry more meaning than store-bought items.
Send e-Cards
In an era where technology connects us instantaneously, consider sending e-cards instead of traditional paper cards. This environmentally friendly option reduces waste and eliminates the cost of postage. Redirecting these savings towards more meaningful aspects of the holiday season can enhance the overall experience.
Adopting these money-saving strategies can significantly impact your overall spending. I wish you and your loved ones a joyful and budget-conscious holiday season. Cheers to a wonderful and financially responsible celebration!