There’s still time to do #7 – and it could save you hundreds of dollars.
Follow this simple hacks and you’ll have more money for you.
1. Create a temporary Christmas account
Open a separate online savings account to deposit your regular savings. Most banks offer a special “introductory” interest rate for the first few months which will generate cash.
2. Be charitable
Think about giving to a charity. Not only will your kind gesture help a worthwhile cause or someone in need, it may also give back to you in the form of a tax return deduction.
3. Enjoy a picnic
Instead of going to a restaurant, arrange a festive picnic and ask everyone to bring a plate of food. It will be more fun and could save you lots.
4. Get a better deal
Call your bank, insurance, phone and internet providers and ask them if they can match a competitor’s rates or beat their prices. You’ll be amazed at what they’ll be prepared to do just to keep your business.
5. Eat lunch for less
The cost of buying your daily coffee and lunch can easily top $20 per day. Consider preparing your own food and morning coffee. Not only will this be better for your health, you could also save more than $500 between now and Christmas.
6. Do a one-stop shop
Doing one large Christmas food shop rather than several small trips will cut down on impulse buys and wastage. Prepare a list and stick to it.
7. Rest your trainer
Put your expensive personal trainer or gym membership on hold leading into Christmas and grab a few friends to exercise together instead.
8. Shop smartly
Consider buying friends or family a gift card for more expensive items so they can be purchased during the post-Christmas sales.
9. Be a secret Santa
Put names in a hat and get everyone to pick out one person for whom they’ll buy a present for. This means you’ll only have to purchase one gift instead of many.
10. Trade your card for money
Put away your credit card for a month and pay everything with either cash or your debit card. This way you’ll only pay with what you have.
David Koch helps you decide if you should start planning for christmas gifts now so you can enjoy it debt free.