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Nov 22, 2021 10:06:32 AM | 5 Min Read

Budgeting Tips for Holiday Shopping as a Senior

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Budgeting Tips for Holiday Shopping as a Senior

The holiday season is finally here! While that means it's time to do some holiday shopping for your loved ones, staying on budget can be challenging. Overspending is easy to do, especially if you have a lot of loved ones you want to treat this season. That said, holiday shopping for seniors is all about staying on a budget. If you can build a budget and stick to it, the holiday season will be a lot merrier.

Keep reading to learn five-holiday spending tips for seniors, including some easy ways to stick to that budget.

Build Lists

As a senior, it's essential to write things down. Our memory declines with age, and lists help us stay on track. Holiday shopping is often about making detailed lists for pretty much everything — regardless of your age.

You can make one list or multiple lists, but they should answer the following questions:

  • Who needs gifts?
  • How much should I spend on each person?
  • How many gifts do I need?
  • What other expenses do I have?
  • What's my realistic budget?
  • Do I have any additional costs during the holidays?

While these are essential questions to ask yourself, you may have more you need to answer. Consider all aspects of your typical budget, including other costs during the holidays, to help you build the proper budget without becoming too stressed.

If you find budgeting for the holidays difficult, don't be afraid to ask your loved ones for help. The holidays can be a lot to handle for everyone, so don't feel bad about struggling. After all, the holidays are all about spending time together!

Buy Early

Another top holiday spending tip for seniors is to buy gifts early before the holiday season gets crazy. If you have ever done some last-minute holiday shopping, you know how wild things can get. As stores get busier and the shelves start to empty, this can lead to more stress and worry, which is the last thing you want. If you’re shopping online, placing early orders can ensure your gifts arrive in time for the festivities.

Getting your shopping done early can be just what you need. Not only can it lower stress, but it can also help you save money and stay on budget. If you shop too close to the holidays, shelves may be empty, and it may be harder to find your gifts, leading to overspending.

Consider a Secret Santa

Do you have 15 grandkids in your family? Do your family gatherings include over 25 people? If that's the case, buying presents for everyone is almost impossible. Not only will this leave you broke, but this also includes tons of planning and shopping.

If you have a large family, consider doing a Secret Santa. If you're unfamiliar with this, a Secret Santa is when all family members pick names out of a hat to determine who buys gifts for each person. For example, if you pick your granddaughters' name, you're chosen to buy a gift for her. However, in a Secret Santa exchange, you never reveal who purchased the present — it stays a secret!

A Secret Santa is a fun and budget-friendly way to enjoy the holidays. As gift buying can get very expensive, buying only one gift can help you save hundreds. If you're interested in a Secret Santa exchange, ask your family to join in. It can create a holiday season to remember!

Get Baking!

Are you famous for your blueberry muffins? Or do you make the best cheesecake in the world? If you're a great baker or aspiring to be, consider baking some treats as holiday gifts! Not only is this a fantastic way to spend your time, but it can also help you save tons of money. And better yet, who doesn't love a batch of cookies as a gift?

To get in the holiday spirit, try making some holiday treat baskets! And don't forget to buy your ingredients in bulk to extend your savings even more.

Baking gifts is an excellent — and delicious — way to save money and enjoy the holiday season with those you care about!

Find Those Bargains

Of course, one of the best ways to save money on gifts is to search for deals. Luckily, the holiday season is packed full of holiday sales. And if you can brave the crowds on Black Friday, you can save a bunch! But if that day is too chaotic, there are plenty of other bargains out there. Make sure to scour the internet and look through the local ads to find the best deals!

While the holiday season can be expensive, follow the tips above to have a stress-free, affordable holiday season with your family.

Topics: Aging & Retirement, Holiday Celebrations

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