Budgeting Tips For Christmas Toys

budgeting tips christmas toys

When it comes to shopping for the Christmas season, there are so many costs to consider. Christmas toys are the most important, of course, if you’re a parent, because there’s nothing as magical as watching your kids open up their gifts under the dazzling tree with dazzling smiles on their faces. But just because that’s your priority, budgeting is still a challenge. After all, there are all the other costs of the holiday season, from traveling to visit your parents to buying that perfect dress for the office Christmas party. That’s why it’s so important to budget for Christmas toys. The last thing you want to end up with is a ton of debt at the beginning of 2019. 

Luckily, there are some great ways to budget for Christmas toys. If you follow these strategies, you can buy some great gifts for your kids without breaking the bank. 

Create An Actual Budget 

The first step to successful budgeting is to create an actual budget. Even though it’s easier to pretend that you can afford everything you want to, this is only going to lead to stress later on. And as a parent, you can’t just spend willy-nilly; you need to be responsible, so you can afford important costs later on related to school and other activities your kids engage in. If you’re realistic, you’ve been spending a lot of money recently, because as of Thanksgiving the shopping doesn’t end. And it isn’t going to end probably until the kids are back in school after Christmas break. 

That’s why it’s so important to budget. Be realistic about not only how much money you and your partner make, but also about what you need to put into savings to pay off your mortgage, schooling, and debts. Once you’ve calculated that, determine which costs are absolutely necessary during the Christmas season (e.g., flights for the family) and which ones aren’t (e.g., a fancy dress you want but don’t really need, because nobody cares if you’re wearing the same one from last year). Once you’ve determined all these costs, you’ll know how much you have left to spend on gifts. 

Considering that total retail sales have been predicted by the Deloitte holiday retail survey to increase 5 to 5.6 percent this year, budgeting will make a huge difference in how much you spend. 

Buy Used Toys And Refurbished Electronics 

One of the best ways to save money on toys is by buying them used. Even though it might not have the same glamor as buying something new, chances are your kids won’t know the difference—and isn’t that what matters, at the end of the day? Lots of stores have return policies that require them to sell returned items at a lower price, even if the product is in mint condition or has been slightly used without any sign of that use on the packaging. Take advantage of that. Check out online options like eBay, too for Christmas

The same goes for refurbished electronics. At a store like Apple, for example, a computer is considered refurbished even if it was never even bought but didn’t pass an initial quality test. They’ll fix the problem, and then have to sell it at a reduced price, even though it’s as good as new. Many technology stores do the same thing, which is great if you have a kid who’s into video games or creative endeavors like making music. 

Consumers surveyed by PwC said that they would spend an average of $1,250 this holiday season on gifts, travel, and entertainment; by saving with this strategy, you’ll spend less than that. 

Shop Online 

Another great way to save money is by shopping online for gifts. Even if you need to go to a store to gauge your kid’s excitement about different items, you can always write a note in your phone and buy it online later. Using a price comparison app like ShopSavvy makes a huge difference because you can find it cheaper elsewhere. 

E-commerce stores also have a lot to offer. Because they’re only paying for putting the products online and shipping them, they can sell high-quality products at a low price. Take Jizels, for example; they’re an online shop that sells customized adult toys. At a brick-and-mortar store, this would cost way more, but with them, you save. There’s a reason that services like Social Gone Viral exist, and it’s because so much is happening online right now, from time spent on social media to shopping. Last year, online sales accounted for 13 percent of total retail sales. 

Have A Fun And Affordable Christmas

These are some of the best ways to budget for Christmas toys this holiday season. You don't have to be a Scrooge to save money this holiday season. As a parent, what other ways do you budget to get gifts for your kids? Share your thoughts and experiences on Twitter @BootstrapsBiz #BootstrapBusiness right now.

I hope you enjoyed this blog post about how to budget for Christmas toys and gifts this holiday season.

Interested in more articles about budgeting for the holidays?

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• Tips To Stay Productive And Thrifty During The Holidays

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