Week 45: Reduce Expenses, Tactic 13

What can you do this week?

• Before spending blindly today, ask yourself what’s reasonable.

• If you didn’t have a budget before today, use the below as a starting point.

• Shop early to find deals.

• Use cash or prepaid cards to avoid overspending.

• Track your purchase.

The Same Principals Apply To The Holidays

• Starting early helps greatly so in January, set aside small amounts toward the large amount you want to spend on your holiday season gifts and experiences.

• Automating transfers is the simplest way to make save and get funds “out of sight, out of mind.”

• Funds should sit in a high yield savings account and not invested.

• When you’ve accumulated the savings, have a plan for how you’ll divvy up the holiday savings funds.

  

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For Ways To Save This Season Consider The Following:

1. DIY Gifts
   Create homemade gifts like baked goods, crafted items, or personalized photo albums for a heartfelt and cost-effective alternative.

2. Shop Sales and Use Coupons
   Take advantage of Black Friday, Cyber Monday, and end-of-season sales, as well as cashback apps and coupon codes.

3. Host a Potluck-Style Gathering
   If you’re hosting, ask guests to contribute a dish, reducing your food costs while diversifying the menu.

4. Gift Experiences Instead of Things
   Offer low-cost or free experiences like a "coupon" for babysitting, a movie night, or a home-cooked meal to strengthen connections without hefty spending.

5. Limit Holiday Travel
   Stay local for celebrations or plan travel during less expensive dates, taking advantage of fare alerts for discounts.

6. Simplify Decorations
   Use natural elements (pinecones, greenery), reuse last year’s decorations, or swap items with friends to refresh your decor affordably.

7. Set Up a Secret Santa
   Reduce the number of gifts by organizing a Secret Santa exchange among family or friends, focusing on one thoughtful gift instead of many.

8. Skip Expedited Shipping
   Plan ahead to avoid costly last-minute shipping fees; shop early or choose in-store pickup to save on delivery costs.

9. Reduce Energy Costs
   Use LED holiday lights and timers to lower electricity bills while still enjoying festive decor.

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