Despite a slowly recovering economy, many travelers are expected to feel the pinch well into 2010. Whether at the pump, grocery store or shopping center, consumers are grappling with skyrocketing prices and are finding it more difficult to stretch their hard-earned dollars. However, by planning ahead and retooling their spending habits, travelers can wind up with deeper pockets than expected. With frugality being the new cool in this sagging economy, here are a few money-saving suggestions that will help you stay merry and debt-free this holiday season:
1. Create a Budget: Keep yourself organized by creating a spreadsheet that details what you plan on purchasing, how much each item costs, and how much you reasonably expect to fork over. You may come to realize that you’ll have to scale back on some of the big ticket products and research goodies that are more wallet-friendly.
2. Book Sooner: The earlier you book, the more likely you are to capitalize on great holiday deals before it’s too late. Though holiday travel tends to come with a higher price, you can still book hotel rooms for $100 or less through December. (And, yes, that includes premier cities like New York, San Francisco and Boston.) Las Vegas is arguably one of the hottest bargain destinations right now, with rooms in various Strip hotels starting at less than $30/night. Don’t forget: Book now and you’ll save later!
3. Shop Smart: It goes without saying that travelers in search of great savings should frequent discount stores like Wal-Mart and avoid the more upscale retailers. Compare prices on everything from groceries to electronics, and don’t neglect to keep the coupons in your local newspaper handy. Want to save even more on holiday gifts for 2010? Go holiday shopping AFTER the holidays! Though that may sound counterintuitive, you’ll be able save 50-90 percent on excess inventory that retailers couldn’t be happier to unload, from gift tags and Christmas cards to wrapping paper.
4. Pick Paper over Plastic: This point ties well into tip #1. Set aside a reasonable amount of cash for holiday expenses, and limit the use of credit cards as much as possible. This will help you exercise self-control in your spending, thus tempering the urge to splurge on high-priced items or lavish holiday parties. While trying to keep a lid on purchases, consumers should remember that cash is still king.
5. Entertainment Without a Price Tag: Who says that fun during the holidays should involve money? Instead of shelling out green at the local movie theater, you can dust off your DVDs, curl up on the couch, and enjoy a movie night in the comfort of your own home or hotel accommodation. You can also partake in holiday concerts, parties and other festivities across the country, many at little or no cost to you.
Contrary to popular belief, travelers can indeed get their holiday shopping done without spending an arm and a leg. Now that you’re armed with the tips listed above, go ahead and spread some holiday cheer – without breaking the bank of course!
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