All holiday plans are different, so looking at the things that will cost you money helps you better prepare for the expenses. Common spending categories for the holidays include:
It's also helpful to look at your spending habits in these areas. If you tend to buy excess food for your holiday gatherings, you might focus on creating a smaller, more affordable menu.
When you break down your holiday spending into categories, you can decide how much money to allocate to each. Look at your routine retirement expenses to see how much extra money you have to put toward your holiday expenses. Prioritize your holiday spending to decide where you want to put most of your funds. For instance, if traveling to see family is nonnegotiable, you might allocate more money to that category.
Instead of buying everything new, check on the holiday items you already have. Pull out your festive decorations to see if you really need a new nativity set or Christmas tree. Check on the leftover wrapping paper and bows from previous years instead of buying new wrapping supplies. You might have forgotten about gifts you've picked up throughout the year for some of your recipients. Working with what you already have reduces how much money you spend on the holidays.
Holiday gifts are often given as a way to show you care about the people in your life. Buying presents for friends and family can take up a large portion of the holiday budget. Making a list of the people you want to buy gifts for helps you decide how much you can spend on each person. If you're on a limited budget, you may want to cut back on your gifting for the year. You can show you care in other ways, such as spending time with people or helping them out in areas where they can use support.
Gifts don't need to be expensive to be appreciated. Creative homemade gifts can be more special to the recipients than items you purchase from the store. Consider your skills and talents when brainstorming gifts you can make. For instance, if you love baking, you might make homemade treats. If you enjoy sewing, you might make stuffed animals for your grandchildren. Visiting Pinterest and searching for handmade gift ideas could give you inspiration.
It's also helpful to start shopping as soon as possible. Be on the lookout for gifts year-round. This allows you to find items on clearance or on sale to save money. You also spread out the costs throughout the year rather than buying several gifts at once in the weeks leading up to the holidays. A similar option is to put aside a set amount of money each week throughout the year to go into a holiday savings account. For many people, this is easier on the budget.
Socializing with friends and joining in on the merriment of the season helps you feel joy. You don't need to skip holiday activities completely to stick to your budget. Instead, choose your activities carefully. Look for free local activities around Omaha you can enjoy with friends and family. One simple idea is to make hot cocoa at home and drink it while you drive around to look at Christmas lights in the neighborhood. Another option is planning a simple holiday party or movie night in your assisted living apartment with your neighbors.
When deciding whether or not to do an activity, consider the total expenses. For example, you might have to buy a ticket, special clothes and a meal for some options, which can add up quickly. Activities that are far away from Hickory Villa add transportation expenses to the outing.
It's easy to get caught up in spending at this time of the year. Retailers use strategic marketing to encourage increased spending. You might see other people going all out with their decorations or gifts, which makes you feel like you need to do the same.
Keep the birth of Jesus as the focus of the holidays. This can help you choose your activities and make decisions based on the true reason for celebrating. Spending time with family and doing good for others are effective ways you can focus on the meaning of the season without spending a lot of money.
