Holiday money-saving tips (and other ideas!)
Online Extra - Dec/Jan. Finance
Naperville Magazine
We have a large family, so these may be helpful holiday tips:
• Set a reasonable budget and absolutely stick to it -- no matter what.
To make that easy, set the budget, get cash in an envelope, and only pay for Christmas out of that envelope. No cheating. Using cash provides an easy way to keep track of your spending. You think twice about a purchase when you have to part with cash that is not replaceable.
• Give the gift of time. Spending some of your valuable time is a gift that you can't put a price on. Just gifting someone with a night out with you -- even if it is just to get a cup of coffee -- is a treasured gift of one-on-one time.
• Use recycled paper to wrap gifts in, or decorate paper grocery bags. The kids can have great fun with this project. Get creative.
• Email your Christmas cards. It is really fun because you can include pictures of your year.
• Forget expensive ornaments, make your own. There are lots of ideas on the Internet.
• Shop in your closet for your outfits, it has probably been awhile since you wore those things, you don't have to break your budget on a new outfit.
• Bake, cook and eat at home. Involve the family, it is really fun.
• Play games instead of paying for entertainment.
• Instead of spending money, have the family agree to volunteer somewhere to help others -- It is the reason for the season, after all.
-- Grace B.
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Plan a budget for all of your buying and stick to it. If you shop early, before the actual buying season, you can find a lot of the "must haves" on sale. And don't forget that online buying can be your friend - usually with no tax and free shipping. Even if you are opposed to online shopping, many local stores will match the online price and some offer a 30-day price match guarantee.
One of my pet peeves is sending out dozens of Christmas cards to people that you haven't heard from in years. Why? Just because they made "the list" 20 years ago? Shorten that list to close family and friends. At $1 a card, it adds up fast.
-- Marc O.
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We just came across a great and inexpensive gift idea. Over the past two decades, we have taken so many videos using our camcorder. Recently my husband had them converted to DVDs, and we actually sat down to watch them for the first time since they were originally taken. What we uncovered was a treasure trove of video of family members when they were just young children, parents/grandparents that are no longer with us, and some truly hilarious footage of pets and friends. We'll be making copies of these and giving them to family and friends for a fun movie night!
--Beth K.
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I have a friend who did the neatest thing last year when money was tight. She gave the gift of her time. She made "appointments" with close friends and family and they did simple things like bake cookies, go for a walk in the forest preserve, etc. She did this throughout December and into January. The thoughtfulness can't be matched and it cost almost nothing. Love it.
-- Michelle D.
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• Here are some non-crafty, but still thoughtful ways to give this Christmas. Dig out all the gift cards you haven’t used yet and use them to buy gifts. (Ok, admittedly less thoughtful, but if you haven’t used them on you yet, use them on the people you love.)
• Consider a white elephant exchange. We have a rule that the gift you give can’t be something you bought for the occasion. It’s re-gifting at its finest. Incorporate a fun game with some gift stealing, and you’ll have laughter and memories that money can’t buy. Gifts that make a return appearance have added extra excitement to the tradition.
• Have a gift exchange limit. When my husband and I were newlyweds on a tight budget, we had a $20 limit for the gifts we gave each other. The first year he surprised me with the most beautiful heart Christmas ornament. It’s my most treasured Christmas gift. That began a tradition, and I have the most gorgeous heart-covered Christmas tree.
• Try theme gifts. Give everyone on your list a goofy t-shirt that suits their personality, find out what they’re favorite children’s book is and give them a copy, give classic board games, a bit of nostalgia goes a long way here. My parents certainly don’t need any more stuff, so for the last 20 years, my sister and I chip in and buy them a gift certificate for a night in a bed & breakfast. They’ve traveled all over the state and have had some great adventures. The last B&B was actually a renovated tug boat. This keeps our spending down quite a bit, and they truly look forward to finding out where they’ll be sent next. (This is a huge timesaver too – a few clicks and the certificate comes in the mail.)
• We haven’t done this for the holidays, but I’m sure it would work. Each year for my mom’s birthday we give her a day of our lives. We commit to spending one full day with her doing whatever she likes. Sometimes we window shop in the town she lives in. Other times we make a meal together or go to a museum, or whatever she feels like. Presents are nice, being present and enjoying each other is super nice.
--Anthony S.
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Follow your favorite retailers on Twitter or Facebook. Often they have discount codes available to those that subscribe. Even being on their email list often gets you numerous codes for discounts. For example, I'm on Gap's email list and receive an email a week with 25 - 40% off all the time.
When shopping online I always hunt for promo codes or free shipping. Retailmenot.com, freeshipping.org are some examples. I hate paying full price online.
Of course, there is always the obvious with Groupon or Living Social deals where you can always get great deals on restaurants, spas, or even cooking classes.
Free activities for families. Check nearby towns and park districts for winter events. Most have tree-lighting ceremonies, lights festivals, ice sculpture festivals or Christmas walks for free.
For family members, pictures are great ideas, especially for spouses or grandparents. Create a photo album at shutterfly.com or picaboo.com. (pics of the kids, vacations, major events, etc.)
Entertaining: Pot lucks are always good. On the Rachael Ray show, she recommended when having a pot luck -- have each person print up several copies of the recipe. Place a plastic stand-up picture frame next to the dish, and place copies of the recipes in the frame. It tells people what the food item is, and those that really enjoy it can just grab the recipe.
-- JoAnne O.
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Ours is not a gift idea but an idea on how to save money on gift wrapping, which really adds up when you have literally dozens of gifts to give. For many years, we gave gifts to both of our parents, our aunts and uncles, to my husband's siblings (I am an only child), and to many of their children. In order to save wrapping paper money, we bought foreign newspapers the day after they went out of date by paying just a fraction of the daily price. We wrapped the gifts in the foreign language paper, used a spool of cheap red twine as the ribbon, and turned the front of last year's cards into name tags. Some people said they found the paper interesting to try to read, and we felt very worldly. P.S. another friend says to iron the newspaper so the ink doesn't bleed.
--Karen G.
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The family has gotten much larger, and it is no longer possible to buy gifts for everyone, so we now only purchase gifts for the young children.
For the adults and teenagers, we do a White Elephant Grab Bag. Each person participating brings something that they have at home that they no longer want. It must be in good condition -- not damaged -- and can be used by a male or a female. Everyone enjoys wrapping their white elephant so you do not know what it is. We pick numbers, and the lowest number gets first pick and opens their selection for all to see. The next person can either take what that first person has (so that person gets to pick again) or can take a present from the pile - it continues in this fashion.
We have a terrific time as people take what someone has or try not to reveal that they really like what they opened! Everyone also gets rid of something they no longer want. And if you end up with a new White elephant, you can bring it back for the grab bag next year! Or some people end up trading with each other after the grab bag selection is done.
--Deb L.
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How about Groupon or Living Social deals? Some good stuff, pretty cheap. For entertaining during the holidays, you also can get you a bit more bang for your buck if you want to buy someone a dinner for $25 or $50, with deal savings.
One little trick to saving for anything is to buy a stock (yes, they can go down, too). But using Computershare, you can buy a stock in a relatively stable utility and earn interest on the dividend, as well. Some can be had for as little as $25 to start. $25 a month, plus 3 percent dividends adds up over time with little or no commissions. Makes a nice gift too for nephews and nieces, as a custodial account.
--Jim K.
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• Buy the kids things, but draw numbers for the adults.
• Don’t forget so many stores are now offering layaway at little or no cost.
• Christmas cards have become email cards with personal messages—does save on the stamps.
• If you’re ordering online, make sure the gift is sent to the recipient – many will throw in gift wrap for free, or at least a gift receipt. No sense you getting it and then resending.
• If you have young kids, use brown paper bags for wrapping and let them decorate for parents, friends and especially grandparents. We’re suckers for this kind of stuff.
• A unique gift: Buy an inexpensive wallet and fill it with $1, $5 or $10 gift cards or certificates.
--Debbie E.
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Recipe jars are always nice, where you put together the dry ingredients for cookies, soup, etc. in a mason jar and wrap with a cute ribbon, etc.
--Christine N.
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This year I will be baking small (3x5) pumpkin bread loaves to give as gifts. You can start early by freezing batches wrapped in clear plastic wrap and tin foil. Once I'm ready to distribute, I will wrap them in festive curling ribbon and attach a personal note.
-- Amber W.
PUMPKIN LOAVES
3 1/2 c flour
3 c sugar
15 oz pumpkin puree
2 tsp baking soda
1 tsp nutmeg (optional)
1 tsp cinnamon
4 eggs
1 c veg oil
1 1/2 tsp salt
2/3 c water
Combine all ingredients in mixing bowl. Pour into nine mini loaves (3x5) or two large loaves. Bake at 350 degrees for 45-50 minutes.
***
I bake biscotti -- lots and lots of biscotti. I have five recipes that are my tried-and-true favorites. The advantage of biscotti over other cookies is that they can easily be baked a couple of weeks ahead of time. Biscotti are supposed to be hard. Keep them stored in an airtight container, and keep your (and your family’s) hands away from them. For a festive touch, melt chocolate and dip one side or one end of the biscotti, and let them cool on a wire rack. Store the dipped biscotti separately or dip them just before you give them away.
For an elderly parent or relative, buying them something can simply mean that there is one more thing to dust or pack away. They would probably more enjoy the gift of your time spent with them. It doesn’t have to be spent doing work for them, or a fancy dinner, although those would probably be appreciated as well.
--Denise P.
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For small kids who give presents to aunts, grandmas, etc., put some amount (you decide how much) of Epson Salt in a small bowl, drop a few drops of food coloring in it, mix it all up well, and they make pretty bath salts. Get a couple of small bottles, stick a pretty sticker on the front of the bottle, and there you have it. It's been very hard to get any kind of bath salts except Epson salts, as most of the fancier salts have been taken off the market. Grannies love this gift.
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How about homemade goodies, like cookies, candies or cakes? Then there's always the basket idea like a breakfast basket with pancake mix, syrup, coffee, etc., or a spaghetti dinner basket (bottle of wine included). What about a craft basket for a child with paper, glue, markers, crayons, etc.? Or, you can always do a gift certificate booklet, where you promise things like babysitting, cooking dinner, or yard work.
--Patti R.
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I suggest making up things like Chex mix, puppy chow mix (http://www.cooks.com/rec/view/0,1710,158182-234196,00.html), white trash mix (http://www.cooks.com/rec/search/0,1-0,white_trash_mix,FF.html) -- food like that and put it in Christmas jars -- Anchor Hocking makes some, resale shops have plates you can buy for cookies, or even Gladware has Christmas containers. I keep it on hand for hostess gifts... Also you can buy trail mix and put it in something.
Gifts don't need to be big things. My teacher friends like food gifts because they don't have time to cook before the holidays. I have gotten/given magazine subscriptions. My friend on a limited budget gives me a nice tube of lotion from Jewel; she also gives us mixed nuts that are in a holiday package at the grocery store. I have gotten a basil plant with a hand towel. I have given a three pack of golf balls. I love getting a bulb and watching it grow. Again, you can get a container from the resale shop and give enough potting soil, etc. For those receiving gifts who are very strapped for cash, a sheet of stamps may be helpful.
My mom used to make mini loaves of quick bread, and her friend would make up batches of appetizers and freeze them. She would bring an assortment that could be used later.
--Jane M.
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My idea would be to create a scrapbook of Christmas pictures. The scrapbook does not have to be fancy, even a simple photo album would do. I started taking pictures of Italian goodies that my family makes around the holidays. Another idea that I got from my mom is to give mason jars that have the ingredients needed to make hot chocolate or chocolate chip or oatmeal cookies. As far as entertaining, watching home videos from years ago can be fun.
-Stefania C.
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We love to wrap in the colorful Sunday comics, and we save almost all of our wrapping paper and gift bags each year. Talk to your family about picking names, so you only buy one present.
and of course the best is, invest 10 years growing raspberry bushes, when you have saved enough berries each day make recipe(s) of jam and give them as gifts at Christmas time.
-- Judy L.
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How about this one, the giving is more better than getting. Take a family trip to the grocery store to shop for a group that is collecting groceries for those in need. Make a joint card and sign it, then go carol at a nursing home for a few minutes and go home for a light meal over candle lights going around saying what makes a family, what makes Christmas special, and what it means to give something to someone less fortunate.
Or do what I do on Thanksgiving, have a "invite a stag or stray" meal. Include those who have no family that you are aware of and make them part of yours for your wondrous feast and fun.
--Pat C.
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The grab bag is the cheapest way to go! The girls buy a $20 gift for girls and the guys the same. Then play the trading game! It's fun for everyone to watch and cost effective. The idea of giving the money to a charity is amazing for kids to experience too!
--Gina R.
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Everyone has to buy an item for the individual they pick from the grab bag from infomercials that air on TV, and the price point is set at $19.99 (or whatever dollar amount). It is so insanely hilarious what people turn up with, and no one has to go out into the nasty malls during the holidays.
-- Diane O.
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When our kids got to be college age, my family started having a grab bag for all of the nieces and nephews. Each of the aunts and uncles drew two names. It's much easier and cheaper to buy for two rather than for all. Now that they're all out of college and have families of their own, we just buy for the grandchildren.
Rather than buy gifts for each other, my siblings and I pick a charity each year and each of us donates what we can afford to that charity.
--Kathleen K.
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My wife and I often gave friends a batch of a recipe they liked. My homemade mustard was usually a hit. One year, my wife made a batch of black-eyed peas, and the recipients loved it because it served as their super glue supply for the year. Really, a homemade food item was usually well received.
--Steve P.
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We have started drawing names so that each adult buys a present for one other adult in the family, with a $50 limit on spending. Of course, we all still buy gifts for each of the children. We put out a stocking for each person (including adults) and each family member is asked to bring a stocking stuffer for each one. This opens the opportunity for lots of gag gifts and silly gimmicks resulting in lots of fun and many amusing photos (reindeer noses, silly hats, etc.). Also, if we are all going to be together for a couple of days, we will draw names for a "secret Santa" who will leave little notes and surprises for their recipient.
Your request also jogged another memory of a favorite gift that I received several years ago for Mother's Day. My oldest daughter had interviewed each of the kids with questions such as: "What is your favorite childhood vacation memory?" "What is your favorite food that Mom cooked for you?" or "What is your most memorable birthday present?" She wrote these questions and answers on little slips of paper and put them in a decorative basket. I could take one every day for the month and read it -- so the gift just kept on giving (and I have kept it for several years and re-read these). This low-cost gift is a very favorite of mine.
And, of course, there's the old standby gift of a personalized coupon book that entitles the bearer to a back rub, walk to the park, family game night, etc.
--Cindy A.
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Cookie exchanges, white trash parties. recipe exchanges from family recipes as gifts, string popcorn and cranberries on the tree party, and have an old-fashioned Christmas tree without lights. Wrap gifts with mailing paper (khaki brown) and tie with brown string, then loop artificial cranberries in the bow. They come in a bunch for about $2 for 10 little bunches. Have the kids make hand decorated tissue paper to wrap gifts, use finger paint and dip cookie cutters in the paint and decorate the tissue paper. So cute in red or green to wrap a gift!
--Pam M.
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• Shop at Aldi - guaranteed good food at great prices (bring a refundable quarter to rent a cart and your recyclable bags)
• Shop at Menards - great prices on practical gifts and lots of rebates so some gifts can even be free.
• Send e-cards instead of regular paper mailed cards to save on cost of cards and postage.
• Instead of seeing a holiday show, pile everyone in the car, and turn on the sing-along carols while driving around looking at lights and decorations, even better in a hybrid car. Or if the weather is tolerable, walk through your neighborhood or downtown Chicago.
• Have a tree decorating party, a chance to look forward to the holidays, and reminisce about favorite ornaments.
• Make a triple batch of a favorite cookie/bread/candy to give to everyone who you just don't know what to give, spend time decorating and wrapping, so it's beautiful as well as delicious.
• Buy ribbon at the fabric store during one of their great sales.
• Use almost any clean container for a box; encouraging the "oh, a box of crackers, just what I always wanted" comments. Quite entertaining.
• My #1 recommendation saves money and warms the heart. Remember the reason for the season; focus less on the volume of presents for others, and yourself, and focus more on the value of presence with others during this very special time of year.
--Beth B.
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Make a budget and do a family grab bag list. Buy a family gift rather than individuals. Like last year we bought Xbox for each family. Now that's a little extravagant, but that's the idea!
--Patty B.
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How about the old "I owe" coupon book to be used by someone as needed. Examples are baby sitting , running an errand, painting a room, or yard work, and the ideas are endless. Coupons can be simple or crafty depending on the giver's talent.
--Sue M.
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So many things can be done to save money, and have fun at the same time.
• We make homemade ravioli, freeze it and package it. Yes, we even make and roll out the pasta, but you can use eggroll wrappers to cut down on time.
• A friend once gave her son and daughter-in-law, who were new homeowners, the gift of time, and landscaped their yard when spring came.
• I have received coupons made by my daughter, for free happy hour. I have saved them, whipped them out and redeemed them!
• I save any "loyalty rewards" from stores (Nordstrom's, Sears, Macys, etc.) and use them to purchase gifts for holidays.
• I also give certificates from restaurant.com, and I make dated Christmas ornaments or friends. Not too expensive, but thoughtful and well received.
--Kate J.
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Last year my son, his wife and one-year-old came into town for Christmas. They had not been in town since our grandson had been born. Their visit was short but there were a lot of people who wanted to see them. We hosted an open house on the afternoon of Christmas Eve and were surprised by how many people were able to come. I would do this again anytime. We put the invitation in our Christmas cards so we got a two-for-one on that, and emailed a few people also. Did not request an RSVP to take pressure off of anyone feeling the need to commit.
--Gail A.
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• Determine a gift budget, take out the predetermined amount of CASH from the ATM, and only spend the cash you have. No credit cards allowed!
• Give a gift from the heart. It sounds corny, but we make a rule in our family to make a gift or do a good deed for someone. Also, no store-bought greeting cards. Make your own holiday cards and save a bundle on cards and postage.
• If you come from a large family, pick names on Thanksgiving and only buy a gift for that family member. You need to make sure EVERYONE agrees to this plan beforehand to avoid any hurt feelings.
-- Mark Z.
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One word - Pinterest. Great place to find homemade gifts, decorating ideas, easy recipes, holiday tips etc.
Also, for our holiday party, we have close friends do a BYOB, and everyone brings an app/treat to share. That way, people bring what they want to drink and we're not left having bottles of alcohol that no one touches. It's really a chance for everyone to just get out of the house and visit.
-- Carrie B.