10 Ways to Save Money This Christmas

Since we’re in an economic recession, it might be nice to look at some ways to save money this Christmas. We can all still have a very meaningful Christmas season and show love to our friends and families without having to slaughter our own personal finances. Here are ten ideas:

1. The Christmas Card Trick – Take Christmas cards from last year, neatly cut off the half with writing on it. Now you have a fresh new Christmas card.
2. Shop Online – This saves gas and (sometimes) time. Unfortunately, you could find yourself surfing the web for as long as it would take you to go out and buy it at the store. But you can find the best deals on products using web features like “Google Shopping.” That saves the time of going from one store to another during the busy traffic season.
3. Bonus Points – Do you get bonus rewards for your credit/debit cards or sky miles from your airlines? Use some or all of those bonus points towards getting gifts for others this Christmas.
4. Thrift Stores – This is where some of us need to swallow our pride. I just went to four thrift stores here in Richmond, Virginia last week in search for a few small items (computer speakers, a shirt, etc.). While perusing one of the stores, I noticed that they had just received a donation of what appeared to be boxloads of brand new, unopened children’s toys. Perhaps Target got a damaged pallet and just brought the whole thing to the thrift store, even though most of the products inside were just fine. It can be like searching for gold at some of these stores, but the gold is there – even new stuff.
5. Ask Your Family and Friends for Wish Lists – This might be another issue of pride – as you do not want to give the impression that you “don’t know” your friends and family well enough if you have to ask for a list. Some people are good at knowing the perfect gift without asking, but I’m not. My wife and I exchange lists so that each one of us has some idea as to what would be worth while to purchase. If you try to guess what someone wants and then you’re wrong – then that money is pretty much wasted (unless you consider that “it’s the thought that counts”). Make your money go further by getting people what they really want and need.
6. Try to Avoid Gift Cards – This is not a universal law, but a general suggestion. Gift cards can be good sometimes, but for the most part, they are not the best “bang for the buck.” I heard that there is about a 20% profit for businesses when they sell gift cards. Now that does not make sense, but it is true. Companies love to sell gift cards because they know that not all the money will be spent. For every $100 in gift cards a company sells, only $80 will be redeemed. That’s because people forget to use their cards or they use part but not all the card in a purchase. Then the remaining $1.83 goes unspent and expires at some point in time. Furthermore, you could buy a gift card for someone and then the company goes belly up in two months. All of a sudden, the gift card is no longer good because the company went bankrupt or out of business. And it’s not just small companies that go bankrupt, as we all know too well.
7. The “Priceless” Gifts – A few years ago, my wife and I sang a song for her uncle as a Christmas gift to him. He loves the song “O Holy Night.” We printed the lyrics with a nice font and framed the lyrics, which did not cost us much. Then we gave him the framed lyrics and sat at his piano and sang it to him. There are TONS of things we can do for other people that require little or no money. You can write a song, a poem, or a short story. Get some low-cost materials and make sometime (like a craft or woodwork or a painting). You can offer a coupon redeemable for services rendered or simply for time spent together. You could cook a meal or dessert for someone. Use your skills, talents, and hobbies to give people those unique gifts that they will never forget.
8. Give Money, Time, or Skills to a Charity – This might seem counterintuitive. But this is what Christmas is all about – selfless gfits. Just the act of giving without any hope of getting anything in return will put us in the right attitude during Christmastime. When we are in the right attitude of giving, then somehow we do not succumb to the pressure to SPEND, SPEND, SPEND at all the retail stores. Compassion is the opposite of consumerism. Furthermore, God has a way of rewarding cheerful givers (in whichever way He so chooses).
9. Do Not Spend More Money Than You Have in Your Bank Account – This might sound like simple math, but this is why our country is in so much turmoil right now – because of debt-based spending. Putting that DVD player for Uncle Bob on credit and then paying interest on it until late 2009 is NOT a good use of money. Save yourself the interest payments by only buying Christmas presents with “cash on hand.”
10. Potluck Christmas Parties – You do not have to host a Christmas party and spend tons of money on food for people to enjoy themselves. People come for the friends and family, not the food (well…I come for all three, but that is beside the point). If you put on a big production Christmas party, save some money by toning down the caviar and shrimp. Either simplify the menu or have a potluck. Or you could have people bring ingredients and then you all bake and cook together.

I hope these ten things help. For a website the combines numbers 7 and 8 in the list above, check out www.adventconspiracy.org