When it comes to saving money during the holidays, most people place their focus on the obvious holiday costs: the gifts, the travel and of course the big holiday meals. However, there are hidden holiday costs that most people don’t really consider because they aren’t on your radar. Here are some hidden holiday costs and how you can beat them.
How to Beat Hidden Holiday Costs
Wrapping paper and bows. Most people don’t consider this a part of their gift giving budget, but with these products not always being the cheapest, you can easily eat through 20 or 30 dollars on gift wrap alone, depending on how many gifts you have to wrap. Of course, buying this stuff after the holidays is a huge help for the coming year. However, if you run out of wrapping paper before the holidays, one idea is to use plain rolls of paper and allow your children to decorate them. You will get far more paper out of the deal and the gift will be personalized as well.
Shipping costs. If you have relatives and friends whom you buy gifts for, you might not be considering how much your budget goes up when you pay high shipping costs. There are a couple ways around this cost. One is to do site-to-store and have your relative pick it up in their hometown and the other is to join in on free shipping day. National free shipping day is typically on the 18th of December every year and when you choose to shop online at participating stores, you get free shipping on that day only for no minimum purchase.
Credit card charges and interest. The easiest way to avoid this hidden cost is to not use credit cards at all during the holiday season. If this is unavoidable for you, consider only using them for small amounts and for things like online shopping. Pay cash only for in store purchases and plan on paying off your credit cards as soon as you can to avoid fees for the long-run.
Extra gas for shopping from store to store. You may not be aware, but if you spend a lot of time out shopping and driving from store to store, you are eating through your normal gas budget. This can cost you and extra 20 or 30 dollars if you are not careful. Avoid this by setting aside one day and mapping out where you will go on public transportation or by car-pooling with others who are doing shopping and splitting the cost.
Extra electrical costs. Running all of those lights can add up quicker than you think. This is especially true if you use the old lights and haven’t switched to LED ones yet. Cut this cost by making the switch, or at the very least, only having your lights on when you can truly enjoy them such as a couple of hours in the evening. Take a look at this article on Holiday Energy Saving Tips for more energy saving ideas.
Last-minute gifts for acquaintances. These are the gifts you buy your boss’s kids that you barely know, the office gift exchange or a last minute guest on your list. The easiest way to cover these is to do a gift closet, but if you don’t have one already, consider looking at just saying no or opting out. There really is no reason to buy gifts for those that you feel uncomfortably forced into buying for and most people understand.
What are some ways you try to save money on holiday expenses? I would love to know in the comments.
More Holiday Saving Tips
8 Lesser-Known Ways to Save on Holiday Gifts
10 Low Cost Hostess Gift Ideas
Thrift Store Christmas Gift Ideas
Tips for Saving Money on Holiday Gift Purchases
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Julia says
Nice post. about the wrapping. I’ve used a package of raffia for years. It’s easy to use, coordinates with everything, and gives a nice look to a package. For to/from tags, I’ve used scraps of cardstock and sometimes a hole puncher to string it on the raffia.