The holidays are coming up fast, so if you’ve taken a look at your finances and felt a pit in your stomach, you may have realised that you need to do some serious saving if you’re going to make sure that everyone gets a present, Christmas dinner goes ahead and you don’t need to put everything on the credit cards.

Here are some ways to save for the holidays:

Budget

It sounds so easy, so why is it that so few people are budgeting these days? Often, we prefer to stick our heads in the sand instead of taking responsibility for our finances, but in order to be able to save, we need to know exactly what’s coming in and going out of our bank accounts.

Spend some time writing down exactly what you make each month, and then list your outgoings. Where can you trim some of these expenses? The trick is to pay yourself first- putting money straight into your savings before you pay all of your bills and spend money on going out- that will ensure that you have a goal you can stick to and keep you motivated each month as you watch the money pile up.

Wipe the cards

Credit card debt is some of the worst debt to have, and you’ll notice that the interest rates are much higher than almost everything else. If you’re hoping to pay off your cards before Christmas, it can certainly be done- but not if you’re focused on only paying the minimum payment each month. Look into consolidating your credit cards and moving your debt onto a card that has 0% interest- some will have this for 6 months or even up to a year, which will mean each payment you make will be paying off the balance and not just the debt that the bank is charging. 

Stay in

Sure, it can seem boring to stay in, but as the weather gets colder, it just makes more sense to relax at home anyway. Many people will head to Las Vegas over the holidays, but when you look at how much flights, accommodation, eating out, gambling and drinking will cost, you’ll be thousands of dollars in the hole- probably without much to show for it.

The answer? Gamble at home by playing casino games at Magical Vegas. It can be done on the couch or sprawled in bed since it’s a mobile site. Along with the chance of winning, Magical Vegas also offers you the Vegas feel through its Live Casino games. Think of all the adrenaline and endorphins that come with it, without the expense of actually heading to Las Vegas.

Think small

It might sound strange, but small changes add up, and while you’ll barely notice most changes, your bank account will begin growing. Give up that gym membership you never use, cancel those magazine subscriptions you never read, hire out your spare room on AirBnb a few days each month, stay in and watch movies or have a pot luck dinner with friends instead of going out, and you’ll save a lot of money for the holidays.