With the pressure of the rise in heating costs as well as other basic necessities such as groceries, how can parents make sure they have enough money to put food on the table and presents under the tree this Christmas?
Here's a few recommendations on how to have a fun holiday season, even on a tight budget:
Start Saving Now
The best time to start saving for the holiday season is now, don't wait a few weeks before Christmas. Look for a way to earn a bit of extra money, perhaps you could babysit a neighbors child, or have a garage sale before the weather gets cold. Save whatever extra money you earn for holiday expenses.
Start Shopping Now
Begin your holiday shopping early to save big on your purchases. Last minute holiday shoppers face huge crowds and inflated prices and end up spending much more than those who finish their shopping in October and November.
Shop At Second Hand Stores
There are many great items that can be found at second hand stores or "thrift shops." Not only will you have fun hunting for treasures that will make great Christmas presents you won't need a lot of money to get a lot of gifts. Thrift stores are filled with children's items such as toys and stuffed animals, and young children couldn't care less whether or not their presents are second hand.
Get Crafty
Another way to save money during the holiday season is to make cheap presents that look like expensive ones. Knitted items like hats and mittens, hand-sewn children's pillows, and homemade Christmas ornaments are just a few ideas. There are tons of fantastic craft and gift ideas available online, just make sure that you spend less on craft materials than you would have spent on a store bought gift.
During Oprah's "Favorite Things" show for 2008 she introduced the idea of "writing letters" as a gift. Writing a special loving letter to a friend or loved one is a great gift idea and doesn't cost a thing.
Surviving The Holidays During a Finacial Crisis
Families who are doing everything possible to save and are still financially strapped may choose to turn to payday loans or credit cards to fund Christmas.
This option could save the holiday season for your family but remember that by borrowing money you will be paying even "more" money back, so have a repayment plan in place before you begin shopping on credit.
If you decide to take out a loan then sit down and figure out exactly how and when you'll be paying it back, and how much the loan interest will cost you. If you know that you won't be able to pay the loan or credit card money back then don't do it.
During these financially difficult times it's not easy for parents to provide holiday presents to their kids, but remember that spending time together as a family is the best gift that your child could every receive.
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