6th December, 2023
By Victoria Oluwayemi
As the holiday season approaches, the anticipation is different this time possibly due to concerns about the soaring prices of food items.
However, with thoughtful planning and a dash of creativity, families can still savour the joy of the season without overspending.
With inflation affecting the cost of essential food items, let’s look into 8 savvy strategies to navigate this festive season without breaking the bank.
Plan and Prioritize
Crafting a detailed budget can be the first step in managing expenses during the holiday season. Identify essential items for your enjoyment early, prioritize accordingly, and allocate funds to each category, such as food, gifts to share, and clothes to wear.
Comparison Shopping
With prices fluctuating, comparing prices among different stores or online platforms can help identify the best deals. Utilize price-comparison apps or websites to scout for discounts and promotions on essential food items without compromising quality.
Embrace DIY and Potluck traditions
Consider hosting potluck-style gatherings where each guest you host contributes a dish. This not only eases the financial burden but also encourages a diverse spread without overstretching budget. Additionally, embracing do-it-yourself dish and homemade treats can add a personal touch while cutting costs.
Stick to a Shopping List
Avoid impulsive purchases by creating a detailed shopping list based on your budget and meal plans. Stay focused on purchasing essential items and resist the temptation to deviate from the list, as this can help curb unnecessary spending.
Early Bird Shopping and Bulk Buying
Take advantage of early sales and discounts offered by stores. Buying in bulk, especially for non-perishable items, can often result in significant savings in the long run. Consider group buying with friends or family to enjoy bulk discounts without excess.
Flexibility in Menu Planning
Be open to adapting your holiday menu based on affordability. Opt for seasonal and locally available ingredients, which might be more budget-friendly and fresher than imported goods.
Utilize Loyalty Programs and Coupons
Many stores offer loyalty programs or coupons that accumulate points or provide discounts towards the end of the year. Capitalize on these programs by using accumulated points or coupons to offset costs during shopping.
Start Saving Early for Next Year
Use this holiday season as a lesson in financial planning. Consider setting aside a small amount each month for next year’s journey to alleviate the strain on future budgets. Remember, don’t ‘over-detty’ your December.