Money Fix: trimming your holiday budget
To save money over the holiday season, cut down on the buying, keep to a list and a tight budget. (Nov. 24, 2011) Credit: Paul J. Richards
There are tons of ways to save money over the holiday season, starting with chiseling down the buying.
To start: Keep to a list and a tight budget. Avoid impulse buying. Shop only with cash or with a debit card attached to a limited checking account. Thoughtful yet inexpensive gifts can include a tin of home-baked cookies, gift cards, or "skins" for a favorite gadget.
Travel: Get a jump on early-booking discounts by reserving travel now. Perhaps you can use your loyalty points for cash, flights, cruises and hotels. The benefit: If you cancel the trip, sometimes the points go back on the card without penalty.
Parties: They can be more fun if they include creative, inexpensive themes, such as toy/regift swaps, caroling or potluck dessert parties.
Plan ahead: Comparison shop online through sites such as buy.com or Google Shopping, even if it means shopping by smartphone when you see an item in a store. But consider shipping time.
Limit family gifts: With children, "When you first see the ads coming on TV, or the malls being decorated, say to a child, 'I know that there are a lot of things you would really like. Let's make a list and divide them into things that are going to be expensive and things that are going to be cheaper,' " advises licensed child psychologist Laurie Zelinger of Cedarhurst. Then you can divide the list further if things can be given by grandparents, for a birthday, or by waiting a year.
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