6 Ways To Save Money Ahead Of The Holidays

As you start thinking about the holidays, you may feel a bit bummed about your budget. Why? Because, if you’re like many people, you may have lost your job or income due to the coronavirus shutdowns.

Does that mean this holiday season has to be completely void of gift-giving? Not necessarily, as you can cut spending in certain places to start building that holiday fund.

1. Sell used stuff.

You may want to buy new stuff to put in your house, but what about the old things taking up space right now? Unless you use them, you can put old items for sale on apps or the Internet to generate quick cash.

People hunt for bargains on used items all the time, so there’s definitely a market for it. Just go through your and pick out what you’d like to sell, snap a pic, and put it online. Garage sales work too, but if you want to put your things in front of as many eyeballs as possible, look at sites like Facebook Marketplace, Craigslist, Poshmark, OfferUp, eBay, and Letgo.

2. End unnecessary subscriptions.

Look around, and you’ll notice that subscription services have popped up all over the place for everything under the sun. While they may not cost a ton by themselves, stacking a bunch of $10 per month subscriptions will add up and cut into your budget, so start being more selective of what you pay every 30 days.

For instance, if you have several streaming subscriptions to services like Netflix, Hulu, Disney+, etc., you may want to pause a few for now. Chances are, you don’t use them all, and that extra money can translate into additional holiday gifts.

3. Eat in.

Although COVID-19 made it harder to eat out, you may still be splurging on other people’s cooking. This can become quite expensive, so cut back and start cooking at home.

You’ll save a ton of money by not dining out, and you’ll save a lot of calories too that can be reserved for all of those delicious holiday foods that are getting ready to appear.

4. Cut the cord.

If you already have some subscription services that offer entertainment, it may be the perfect time to cut cable. The average person pays over $100 per month for this service, so cutting it can bolster your budget bigtime before the holidays hit.

5. Go generic.

Are you used to filling your grocery cart with only brand name foods? Opt for the generic alternatives, and the savings will add up each time you hit the store.

You don’t have to skip out on every brand name item, but skipping some can help you cut food costs to leave cash for buying gifts.

6. Lower your AC or heater.

Utilities can take a big bite out of your budget. You can reduce these costs by using your air conditioner or heater less often. Fall temperatures tend to be milder, so take advantage of that. You can also do things like closing your blinds or using a programmable thermostat to keep cooling and heating costs low.