It happens every year: you have a plan to save or start shopping earlier to eliminate the last minute gifts and the expense that goes with it. But, unfortunately, despite your best efforts you're not prepared. You could cut the gift-giving down to a minimum to reduce the amount you'll have to spend. But, again if you have young children you'd rather sell an organ than disappoint them. While you may not like the idea of creating more debt, an installment loan could be the option you need. First, it would give you cash to shop with without taking away from the necessary monthly bills you need to pay and secondly, you can spread the payments over a year or two to minimize the additional amount added on to your monthly expenses. Online companies like Blue Trust Loans have lower interest rates than the predatory payday loans and give you several repayment installment options. In addition, by making the monthly payments on time you can also help to improve your credit score.
Spend only what you can afford
You should never go into debt for the holidays. Yet every year you seem to find yourself in the same position, broke. If you have a large family and you buy for every member, cut down on the numbers. Call a meeting with your siblings and parents to discuss maybe just purchasing for the children and then putting all the adult names in a hat. This way your only buying for one adult. If you want to take it even further eliminate the adults and pick from a hat for the children in the family. Every child will get a nice gift instead of having to spend $5. You can limit it to say $20.00. This way you'll have money for your immediate family without having to go into debt.
Use your talents
The holidays are a time to rejoice with your family. If you do crafts, woodworking, knit or sew, give a gift from the heart that you made. You'll be surprised at the hugs you'll get for spending your time and efforts to create something special. The same goes for baking. If you love to cook and you have recipes for cookies, bake up a few dozen and package them up fancy and give them out. You don't need to spend a lot of money to make someone feel special.
Check prices before shopping
You already know this but it's worth repeating, a sale isn't always as good as you think. Some stores in recent years have actually increased the prices earlier in the year and then around the holidays put them back to where they should be. Before heading out to the mall with your list of wants price check local stores. Believe it or not depending on how much you're spending you can actually save a few hundred, enough to pay for your holiday feast. And speaking of the holiday meal, bring coupons and make sure to check the flyers for all the local supermarkets. Sometimes they have different items on sale and you can really clean up by visiting a few stores. It may take a little more time to complete the job but in the end, you'll enjoy having the extra money in your pocket.
Holidays are a wonderful time of year where families get together to spend quality time enjoying each other's company. If you keep the spending in check you'll also be able to enjoy the day after as well.